Benzinga's Top #PreMarket Losers

Shutterfly SFLY shares slipped 9.50% to $42.50 in pre-market trading as Bloomberg reported that Silver Lake Management LLC has decided not to pursue acquisitions of Shutterfly, as well as Snapfish from Hewlett-Packard Company HPQ, after failing to reach an agreement, according to a source. Lithia Motors LAD shares declined 3.41% to $77.02 in pre-market trading after the company lowered its Q3 earnings forecast. GoPro GPRO fell 2% to $83.35 in pre-market trading after dropping 4.63% on Friday. J. C. Penney Company JCP shares dropped 1.26% to $7.03 in pre-market trading. Analysts at UBS downgraded J.C. Penney from Neutral to Sell and lowered the price target from $10 to $5.