Morning Market Losers

Theravance Inc (NASDAQ: THRX) shares dipped 35.64% to $13.00 at 9:50 am. GSK and Theravance announced initial outcomes from pivotal phase III studies for once-daily Relovair(TM)* in COPD and asthma.

IPC The Hospitalist Co Inc (NASDAQ: IPCM) shares lost 27.16% to $33.25. IPCM lowered its full-year view.

A.T. Cross Company (NASDAQ: ATX) fell 14.31% to $8.56. ATX projects 2011 earnings per share to meet its earlier issued basic earnings per share forecast of $0.67 to $0.70.

TranSwitch Corporation (NASDAQ: TXCC) dropped 11.40% to $3.11. TXCC now projects its Q4 revenue to be around $6.3 million.