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Afternoon Market Losers

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Demand Media (NYSE: DMD) plunged 20.93 percent to $6.46 after the company reported that it bought Society6 for around $94 million in cash and stock. The company also cut its revenue forecast for the second quarter.

Barnes & Noble (NYSE: BKS) fell 16.68 percent to $15.68 after the company posted a wider than expected fiscal fourth-quarter loss.

Mitek Systems (NASDAQ: MITK) tumbled 16.72 percent to $5.43 after the company announced an underwritten public offering of about 2.875 million shares of its common stock at a purchase price of $5.25.

Walgreen (NYSE: WAG) traded down 7.74 percent to 3.73 after the company reported downbeat fiscal third-quarter earnings.

American Vanguard (NYSE: AVD) dropped 15.36 percent to $23.31 after Piper Jaffray downgraded the company to Neutral on 2Q preannouncement.

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