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.
Company | March 8 | Weekly Loss |
|---|---|---|
DragonWave | $1.66 | 31% |
Atlantic Power | $5.43 | 24% |
J.C. Penney | $15.11 | 15% |
SolarCity | $16.31 | 10% |
YY | $17.34 | 10% |
Source: Barron's.
DragonWave investors were breathing fire after the company hosed down its outlook for the quarter that ended last month. The company was originally expecting to record $40 million to $45 million in revenue, but now it's guiding the market to expect revenue of roughly $30 million.
Atlantic Power lost some serious power a week earlier after posting a much wider-than-expected quarterly loss and slashing its dividend in half. This past week saw another round of sharp selling as class action lawsuits began to pile up.
Citi and Oppenheimer became the two latest analysts to sour on J.C. Penney. Sales are the department-store chain continue to sputter, and reports surfaced later in the week of 2,200 more layoffs at the retailer.
SolarCity didn't impress in its first quarterly report since going public. The consumer-facing installer of residential solar energy systems posted a larger deficit and was lighter in revenue than analysts were targeting.
YY also didn't wow the market in its first quarter as a public company, though its performance wasn't as ugly as SolarCity's. The Chinese dot-com speedster did manage to post robust revenue growth, but profitability fell short of expectations.
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The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.
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