5 of Last Week's Biggest Losers
There's never a shortage of losers in the stock market.
Let's take a closer look at five of this past week's biggest sinkers.
|Career Education (NAS: CECO)||$7.98||(54%)||Add|
|Central European Distribution (NAS: CEDC)||$3.21||(46%)||Add|
|Exelexis (NAS: EXEL)||$4.26||(44%)||Add|
|Dendreon (NAS: DNDN)||$6.69||(41%)||Add|
|Hansen Medical (NAS: HNSN)||$2.09||(38%)||Add|
Career Education was the market's biggest loser last week, shedding more than half of its value after the for-profit trade school operator posted problematic quarterly results. Analysts at Wunderlich and William Blair downgraded the stock after the report.
Vodka distributor Central European Distribution took a hit after posting disappointing quarterly results. Even though the company claims to have hacked away at expenses in Russia and turned the corner in Poland, it's hard to overlook a charge-laden operating loss of $645.2 million.
Exelixis took a hit after the biotech failed to come to terms with regulators over special rules for the third and final phase of clinical trials for its experimental prostate cancer drug.
Dendreon stumbled after posting just $66 million in sales during the third quarter for its Provenge cancer drug. The buzz on the cancer treatment is strong, but at a price point of $93,000, it's been hard to prescribe and even harder for Medicare to reimburse.
Hansen Medical called in sick after the hospital robotics company revealed that two products it had hoped to begin marketing later this year won't hit the market until the FDA clears them, likely in the second quarter of next year.
It was a rough week for these five stocks. Let's see if they bounce back.
At the time this article was published The Motley Fool owns shares of Exelixis and Dendreon.Motley Fool newsletter serviceshave recommended buying shares of Exelixis and Central European Distribution. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.Longtime Fool contributor Rick Munarriz calls them as he sees them. He does not own shares in any of the stocks in this story. Rick is also part of theRule Breakersnewsletter research team, seeking out tomorrow's ultimate growth stocks a day early.