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.
Nam Tai Electronics
Let's start with Aveo Pharmaceuticals. The once-promising biotech shed more than two-thirds of its value after the FDA advisory committee voted nearly unanimously against Aveo's tivozanib. Aveo's lead drug candidate has been hoping to gain regulatory clearance for the treatment of metastatic renal cancer carcinoma.
ZAGG also sagged. The seller of smartphone and tablet accessories tanked after falling woefully short of Wall Street's profit forecasts in its latest quarter. Sales fell, surprising analysts banking on growth. ZAGG earned roughly half as much as the pros were projecting.
Nam Tai tumbled after offering problematic guidance. Despite blowout quarterly results, the contract manufacturer is experiencing a sharp drop in orders. Nam Tai may cease its LCD module production altogether if business doesn't improve.
Smartphone game maker Glu Mobile disconnected with investors after following up better-than-expected results with weak guidance. Glu's projected quarterly loss will be wider than analysts were targeting this quarter, and it sees a sharper sequential decline in revenue than Wall Street was forecasting.
Finally, there will be blood at Cerus. The company behind the Intercept Blood System that reduces the risk of transfusion-transmitted diseases posted a much larger quarterly loss than the market was expecting.
Ready for a bounce
If you owned some of these losers, how about following the smart money into winners?
With so much of the financial industry getting bad press these days, it may be the time to get greedy when others are fearful. Not surprisingly, some of Warren Buffett's biggest investments are in the space. In The Motley Fool's free report "The Stocks Only the Smartest Investors Are Buying," you can learn about a small, under-the-radar bank that's too tiny for Buffett's billions. Too bad for Buffett, because it has better operating metrics than his favorites. Just click here to keep reading.
The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.Longtime Fool contributor Rick 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.