Benzinga’s Top Pre-Market Losers (PALM, THC, BRCD, MELI, MDT)

Palm, Inc. (NASDAQ: PALM) decreased 5.49% to $8.61 in the pre-market session after Palm was cut to Underperform from Buy by Bank of America Merrill Lynch and the price target reduced to $10 from $20. The 52-week trading range for PALM is $5.85 - $18.09. Palm has declined over 32% in the last six months.

Tenet Healthcare Corporation (NYSE: THC) tumbled 3.58% to $5.38 in the pre-market session. Tenet Healthcare reported today a fourth-quarter profit of $21 million, or $0.04 per share, from a loss of $33 million, or $0.07 per share, in the year-ago period. Revenue increased 3.9% to $2.26 billion for the quarter. Tenet Healthcare closed at $5.58 in the last trading session. The 52-week trading range for THC is $0.78 - $6.44.

Brocade Communications Systems, Inc. (NASDAQ: BRCD) plunged 18.53% to $5.67 in the pre-market session. Brocade announced today that Barbara Spicek has been named a 2010 Channel Chief by Everything Channel’s CRN. The 52-week trading range for BRCD is $2.05 - $9.84. Brocade Communications has climbed over 126% in the last year.

MercadoLibre, Inc. (NASDAQ: MELI) plunged 9.60% to $37 in the pre-market session. MercadoLibre reported yesterday a fourth quarter net income of $11.3 million or $0.26 per share, from $7.9 million or $0.18 per share in the year ago period. MercadoLibre closed at $40.93 in the last trading session. In the last six months, MELI has surged over 30%.

Medtronic, Inc. (NYSE: MDT) decreased 0.02% to $43.65 in the pre-market session. Medtronic reported today a third-quarter net income of $831 million, or $0.75 per share, as compared to $698 million, or $0.62 per share, for the same quarter last year. Revenue increased to $3.9 billion as compared to $3.5 billion in the year ago period. Analysts expected Medtronic to report earnings of $0.76 per share on revenue of $3.7 billion. The 52 week trading range for MDT is $24.06 -$46.66. MDT closed at $43.66 in the last trading session.