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.
|Rambus (NAS: RMBS)||$8.41||(53%)||Add|
|Perry Ellis (NAS: PERY)||$12.54||(45%)||Add|
|Meritor (NYS: MTOR)||$5.21||(38%)||Add|
|Daqo New Energy (NYS: DQ)||$2.00||(29%)||Add|
|MoneyGram (NYS: MGI)||$16.25||(29%)||Add|
SunTrust downgraded shares of Perry Ellis after the high-end apparel retailer revealed that it's been resorting to margin-munching discounts to move clothing. The company's fiscal third quarter was bad, and the discounting continues in November.
Truck parts manufacturer Meritor will have to hand mud flaps to shareholders after posting disappointing guidance. Meritor sees revenue of $4.8 billion in fiscal 2012, short of the $5.3 billion that analysts were banking on.
Daqo New Energy stumbled after announcing the departure of its CFO. Investors are a bit gun-shy about trusting the financials coming out of recent Chinese IPOs these days, so the polysilicon manufacturer's announcement wasn't welcome news.
MoneyGram shares became a little poorer after the company completed a secondary offering, despite announcing a large deal with State Bank of India.
It was a rough week for these five stocks. Let's see if they bounce back.
At the time this article was published Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure 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.