NYSE Major Losers , (JTX, GAJ, MLP, LFT, TSO)

Jackson Hewitt Tax Service Inc. (NYSE: JTX) stock is down 13.51% from its closing price of $4.44 yesterday. The stock hit a low of $3.63 today and was trading at $3.84 at last check. The stock price of Jackson Hewitt plunged after the company said that it lacks financing for about half its refund -loan this tax season. Jackson Hewitt is seeking a new source of cash for after regulators last month ordered Santa Barbara Bank & Trust out of the business, according to a federal filing today. Jackson Hewitt said it’s not sure new funding can be obtained and this will have a material adverse impact on the company’s business, financial conditions and result of operations, according to a report by Bloomberg.

Great Atlantic & Pacific Tea Company Inc. (NYSE: GAJ) stock is down 13.12% from yesterday’s closing price of $23.64. The stock reached a low of $20.03 and was trading at $20.04 at last check. The company has had a 52 week range of $9.50-$24.50.

Maui Land & Pineapple Co. (NYSE: MLP) stock is down 5.84% from its closing price of $4.63 yesterday. At last check the stock was trading at $4.36 after reaching a low of $4.32 in today’s trading. The future of Maui Land looks bleak after the closure of its pineapple growing operation to alleviate growing costs and debt. In a recent filing with federal regulators, the company’s auditors said that the company may not be able to stay in business at all due to extreme debt, dwindling cash resources and continuing losses.

Longtop Financial Technologies Ltd. (NYSE: LFT) stock is down 5.51% from its closing price of $40.45. The stock was trading at $38.24 at last check after reaching a low of $36.51 in today’s trading. The company has announced that it has acquired core banking vendor Giantstone. The deal is expected to be closed by the end of March this year. The cash acquisition is worth approximately $45 million. There is also an earn-out structure where additional $45 million will be paid in the next two years based on future performance according to Longtop CFO Derek Palaschuk.

Tesoro Corporation (NYSE: TSO) stock is down 5.28% from its closing price of $14.12 yesterday. The stock reached a low of $13.20 and was trading at $13.39 at last check. Tesoro has had a 52-week range of $10.62-$19.16. The stock has been showing support around $13.70 and resistance in the $15.32 range. S&P has a Neutral Hold rating on the Tesoro stock.