Morning Market Losers

Renren RENN shares declined 9.42% to $3.42 after the company reported Q4 results. Renren expected Q1 sales of $23.0 million to 25.0 million, versus analysts' estimates of $30.20 million. Central European Media Enterprises CETV shares dropped 8.35% to $3.95 in pre-market trading after gaining 6.95% on Tuesday. Orbitz Worldwide OWW slipped 7.93% to $8.24 after Goldman Sachs downgraded the stock from Neutral to Sell. Oracle ORCL shares tumbled 3.44% to $37.51 after the company reported weaker-than-expected fiscal third-quarter earnings. Oracle's quarterly profit surged to $2.57 billion, or $0.56 per share, versus a year-ago profit of $2.5 billion, or $0.52 per share. Its revenue jumped to $9.31 billion versus $8.96 billion. Its adjusted profit came in at $0.68 per share. Kandi Technolgies Group KNDI shares tumbled 3.21% to $20.48 after the company entered into an agreement for registered direct placement of $11.05 million of common stock and warrants.