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.
Cliffs Natural Resources
Level 3 Communications
Cliffs Natural Resources found several ways to disappoint investors. The iron ore producer posted a huge quarterly deficit, following that up with news that it will slash its dividend from $0.625 to $0.15 a share and complete a secondary offering to raise $1 billion.
Level 3 Communications was taken down a few levels after falling short on the bottom line. The provider of communications services to enterprise, government, and carrier customers served up a larger loss than analysts were forecasting. This shouldn't really come as a surprise to investors. This is the same thing that happened every single quarter at Level 3 last year.
Heckmann slipped after Wedbush analyst David Rose downgraded the provider of fracking wastewater solution. Rose is slapping the stock with an "underperform" rating and slashing his price target all the way down to $2.50.
Denderon may have a promising vaccine to tackle prostate cancer, but that's not enough for at least one analyst. Maxim Group downgraded shares of Dendreon, tagging the stock with a grim "sell" rating and a price target of $4.
Finally we have 3D Systems tumbling after a bearish report on the poster child of 3-D printing. Noted worrywart Citron Research made 3D Systems its latest target, tagging it as a "bubble stock."
Ready for a bounce
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The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.Longtime Fool contributor Rick Aristotle Munarriz has no position in any stocks mentioned. The Motley Fool recommends 3D Systems; owns shares of 3D Systems, Dendreon, and Heckmann; and has options on 3D Systems and Heckmann. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.