5 of Last Week's Biggest Losers
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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.
Sept. 7 Closing Price
|Audience (NAS: ADNC)||$6.90||(62%)||Add|
|LeapFrog (NYS: LF)||$9.15||(16%)||Add|
|AuRico Gold (NYS: AUG)||$5.97||(14%)||Add|
|Pandora (NYS: P)||$10.47||(13%)||Add|
|Sigma Designs (NAS: SIGM)||$6.09||(11%)||Add|
Audience was the market's biggest loser, shedding nearly two-thirds of its value after revealing that the audio-signal processor specialist's technology may not be available in the upcoming iPhone 5. The drop may seem severe, but it's more a reaction to Audience's ability to license its technology in the future than the licensing revenue that it will have to live without.
Kindle Fires weren't the only tablets getting cheaper this week. LeapFrog lowered the price of its LeapPad1 by $20 to $79.99. The learning toy was one of last holiday season's biggest winners, but investors don't usually warm up to margin-stinging price cuts.
AuRico Gold wasn't all that golden last week. The gold producer hosed down the production estimates at its flagship Ocampo mine.
Pandora slipped after a report revealed that iTunes was working on a rival service that would be made available for iOS, Mac, and Windows devices. It may be a bit of an overreaction given the fact that many other companies have rolled out similar custom streaming platforms, but iTunes remains the top dog in digital music.
Finally, Sigma Designs may have posted a narrower quarterly loss than the market was expecting, but BWS Financial still downgraded the chip maker after the report.
Ready for a bounce
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The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.The Motley Fool owns shares of Apple. Motley Fool newsletter services recommend LeapFrog Enterprises and Apple. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.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.