The top after-market NASDAQ Losers Wednesday were: Shutterfly, Accuray, Nektar Therapeutics, BioScrip, Echelon Corp, Merge Healthcare, Astronics Corp, IAC/InterActiveCorp, FSI International and IPC Hospitalist Co.

Shutterfly Inc. (SFLY) stock slumped 9.63 percent to $22.70 in post market trading session as its first quarter earnings fell short of expectations. For the first quarter, the company expects net loss to be in a range of $0.31 to $0.43 per share on revenues of $83 to $85 million, while analysts expect the company to report net loss of $0.32 per share on revenues of $90.41 million.

Accuray Inc. (ARAY) stock plunged 7.83 percent to $5.65 in aftermarket trading session. The company stock surged more than 8 percent in regular trading session.

Nektar Therapeutics (NKTR) stock plunged 7.82 percent to $6.25 in aftermarket trading session. The company stock surged more than 8 percent in regular trading session.

BioScrip Inc. (BIOS) stock declined 7.36 percent to $5.41 in post market trading session. The company stock surged nearly 8 percent in regular trading session.

Echelon Corp. (ELON) stock declined 7.35 percent to $5.17 in post market trading session.

Merge Healthcare Inc. (MRGE) stock declined 6.32 percent to $5.48 in post market trading session. The stock has a 52-week low of $4.12, a 52-week high of $7.23 and $529.45 million in market capitalization.

Astronics Corp. (ATRO) stock declined 5.97 percent to $31.98 in post market trading session. The company announced Wednesday that it will release its fourth quarter and full-year 2011 earnings before the opening of Monday, Feb. 6.

IAC/InterActiveCorp. (IACI) stock declined 5.92 percent to $43.07 in post market trading session. The company reported fourth quarter net profit of $48.8 million or $0.53 per share compared to $87 million or $0.90 per share in the same period a year-earlier.

FSI International Inc. (FSII) stock declined 5.76 percent to $4.25 in post market trading session. The company stock gained more than 6 percent in regular trading session.

IPC Hospitalist Co Inc. (IPCM) stock declined 5.65 percent to $31.70 in post market trading session.