The top after-market NASDAQ stock market losers are: Penford, Pacific Biosciences of California, Netlist, Micron Technology, Copano Energy, SMTC, Coldwater Creek, Avanir Pharmaceuticals, ChinaCast Education, Oncothyreon, and Gilead Sciences.

Penford Corp. (PENX) lost 7.41 percent to $6.50 in the after-hours trading. Standard & Poor's said Cincinnati Bell Inc. (CBB) will replace Penford in the S&P SmallCap 600 index, effective Jan. 3, 2011. Penford, with a market capitalization of less than $80 million, ranks 600th in the S&P Small Cap 600 index.

Pacific Biosciences of California, Inc. (PACB) plunged 4.76 percent to $15.51 in the after-market session.

Netlist Inc. (NLST) plummeted 4.40 percent to $2.39 in the after-hours trading.

Micron Technology Inc. (MU) fell 3.50 percent to $7.99 in the after-market session. The company's first quarter profit was $155 million or 15 cents a share, down from $204 million or 23 cents a share last year, due to lower average prices of its DRAM chips. Sales rose 29 percent to $2.25 billion. Analysts had expected profit of 29 cents a share on revenue of $2.38 billion.

Copano Energy LLC (CPNO) dropped 2.90 percent to $30.78 in the after-hours trading.

SMTC Corp. (SMTX) tumbled 2.58 percent to $3.40 in the after-market session.

Coldwater Creek Inc. (CWTR) slid 2.41 percent to $2.83 in the after-hours trading.

Avanir Pharmaceuticals (AVNR) declined 2.38 percent to $4.10 in the after-market session.

ChinaCast Education Corp. (CAST) decreased 2.33 percent to $7.12 in the after-hours trading.

Oncothyreon Inc (ONTY) moved down 2.31 percent to $3.80 in the after-market session. Merck Serono, a division of Merck KGaA of Darmstadt, Germany, informed Oncothyreon on Dec. 22 that the Independent Data Monitoring Committee (DMC) for the Phase 3 START trial of Stimuvax in non-small cell lung cancer met and the DMC recommendation is to continue the study.

Gilead Sciences Inc. (GILD) fell 1.76 percent to $35.70 in the after-hours trading. The company said it is stopping ARTEMIS-IPF, its ongoing Phase III clinical trial of ambrisentan in patients with idiopathic pulmonary fibrosis, due to lack of efficacy. The decision follows an interim analysis of unblinded efficacy and safety data by the study's Data Monitoring Committee and a review by Gilead.

The Foster City, California-based Gilead said the Phase III clinical trial ARTEMIS-IPF failed to show evidence of a treatment benefit in the group of patients randomized to receive ambrisentan. The company will now conduct a thorough review of the data.

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