Morning Market Losers (QXM, VLYWW, RT, IRDMZ)
Qiao Xing Mobile Communication Co Ltd (NYSE: QXM) fell 18.92% to $3.60 at 9:55 am. QXM reported that meeting of its shareholders for considering the offer by Qiao Xing Universal Resources Inc (NASDAQ: XING) was adjourned for lack of quorum.
Valley National Bancorp (NASDAQ: VLYWW) shares dipped 13.67% to $2.59. VLYWW had $389.79 million in total cash and $3.31 billion in total debt for the recent quarter.
Ruby Tuesday Inc (NYSE: RT) shares lost 12.49% to $11.70. RT reported weaker-than-expected Q3 results.
Iridium Communications Inc (NASDAQ: IRDMZ) dropped 9.09% to $1.30. IRDMZ's trailing-twelve-month ROE is 3.54%.
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