Market Overview

Benzinga's Top #PreMarket Losers

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Rocket Fuel (NASDAQ: FUEL) fell 24.20% to $18.76 in pre-market trading after the company reported a Q2 loss of $0.11 per share on revenue of $92.60 million. Rocket Fuel also announced the acquisition of [x+1] for $230 million.

Sprint (NYSE: S) shares slipped 17.58% to $6.00 in pre-market trading after Wall Street Journal reported that Sprint (NYSE: S) was abandoning its efforts to acquire T-Mobile US (NYSE: TMUS), citing regulatory issues. According to a report from Bloomberg, Sprint would announce a replacement for CEO Dan Hesse as soon as Friday..

Groupon (NASDAQ: GRPN) shares declined 16.25% to $5.92 in pre-market trading after the company reported downbeat revenue for the second quarter and issued a weak earnings forecast for the current quarter.

Time Warner (NYSE: TWX) dipped 13.43% to $73.75 in pre-market trading after Twenty-First Century Fox (NASDAQ: FOX) announced Tuesday that it is withdrawing its bid for Time Warner. Time Warner reported upbeat second-quarter profit on Wednesday.

Cognizant Technology Solutions (NASDAQ: CTSH) dropped 12.63% to $43.67 in pre-market trading after the company lowered its FY14 revenue growth outlook. The company also reported a rise in its second-quarter profit.

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