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.
Let's start with Corinthian Colleges. After the post-secondary educator delivered uninspiring quarterly results, the market took the leather to it on its surprisingly weak outlook for the current quarter. It expects to report a small loss for the period, with student enrollments projected to fall 6% to 8% during the period. Analysts were holding out for growth and a modest profit.
Most of Dangdang's 17% drop on the week came on Friday after JPMorgan Chase downgraded the Chinese e-tailer. The analysts think China's e-commerce climate will continue to be unfavorable for the next year or two.
JA Solar fell despite posting a narrowing quarterly deficit and topping its own guidance for the volume of solar power products that it will ship during the period. However, JA Solar's loss of $0.58 a share was still larger than the $0.54 shortfall the pros were projecting.
JA Solar's forecast also calls for essentially flat sequential growth in shipments. Some solar-energy bellwethers had issued more encouraging outlooks earlier this earnings season.
Rigel tumbled on disappointing news for its experimental asthma drug. R343 didn't live up to its primary endpoint in a mid-stage clinical trial. It's feast or famine with young biotechs, but Rigel's been hungry for some time. It fell short on a once-promising rheumatoid arthritis treatment earlier this year.
Finally, we have Krispy Kreme hitting hard times after coming up short in its latest quarter. The doughnut darling has been resilient in recent years. Comps have risen for 19 consecutive quarters, and the stock has more than tripled since bottoming out last summer. However, heightened expectations accompany strong gains, and Krispy Kreme failed to live up to the market's glazed desires.
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The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.Longtime Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool owns shares of JPMorgan Chase. 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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