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.
ITT Educational Services
GT Advanced Technologies
ITT Educational Services flunked out after revealing that the SEC was investigating the accounting behind the post-secondary educator's private loans program.
Molycorp fell after delaying its fourth-quarter report to March 15. The rare-earth minerals producer still isn't sure how big a goodwill hit it will be taking related to last year's purchase of Neo Material Technologies.
Facing challenging conditions in the solar and LED markets, GT Advanced Technologies posted disappointing quarterly results. GT served up a loss as revenue declined sequentially and year over year. The company booked just $6.5 million in new orders during the quarter.
Global Hunter Securities downgraded Halcon Resources this week, even after the Bakken oil producer delivered strong growth in its latest quarter.
Finally we have OmniVision posting a double-digit percentage decline after offering a weak near-term outlook. OmniVision is the top dog in image sensors at a time when high-quality cameras are a priority in smartphones and tablets. The problem for OmniVision is that this has become a very competitive market.
Sure, OmniVision far exceeded Wall Street expectations on the top and bottom line during the holiday quarter, but its near-term outlook isn't as rosy. OmniVision's guidance for earning $0.14 to $0.29 a share on no more than $330 million in revenue is well short of the $0.32 profit on $371.5 million in revenue that analysts were forecasting.
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The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.Longtime Fool contributor Rick Aristotle Munarriz and The Motley Fool have no position in any of the stocks mentioned. 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.
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