Morning Market Losers

Semtech SMTC dropped 15.29% to $23.78 on lowered forecast. Raymond James downgraded the stock from Strong Buy to Outperform. Rite Aid RAD plummeted 9.90% to $5.19 after the company lowered its outlook for the fiscal year. Cobalt International Energy CIE dropped 8.94% to $14.26 after the company provided an update on its Gulf of Mexico Drilling operations. Sino-Global Shipping America SINO dropped 8.90% to $2.15. Sino-Global's trailing-twelve-month ROE is -80.47%.