FindWhat Leads Nasdaq Losers

Updated from 10:55 a.m. EST

FindWhat(FWHT Quote - Cramer on FWHT - Stock Picks) was the Nasdaq's biggest percentage loser Thursday after the Internet ad company's first-quarter guidance shocked investors.

In the fourth quarter, the company earned $4.8 million, or 15 cents a share, in the quarter, compared with $3.5 million, or 15 cents a share, last year. Revenue nearly tripled to $58.7 million, thanks to some acquisitions. Adjusted earnings of 19 cents a share were above Wall Street estimates.

But the company ran into trouble with its first-quarter guidance, calling for adjusted earnings of 12 cents to 15 cents a share on revenue of $55 million to $59 million. Wall Street had been expecting 20 cents a share on revenue of $67 million.

The stock was downgraded by a handful of brokerages Thursday morning, including ThinkEquity, which cut its rating to "source of funds." The stock was also caught in the downdraft created by RBC Capital's bearish call on Yahoo!(YHOO Quote - Cramer on YHOO - Stock Picks) and Google(GOOG Quote - Cramer on GOOG - Stock Picks).

Recently, FindWhat was off $2.90, or 21.5%, to $10.55.