Morning Market Losers
Exelixis (NASDAQ: EXEL) fell 36.03% to $4.12 after the company issued an update on ongoing COMET-1 phase 3 pivotal trial in men with metastatic castration-resistant prostate cancer. Stifel Nicolaus lowered the price target on the stock from $11.00 to $9.00.
Global Cash Access Holdings (NYSE: GCA) shares declined 18.41% to $6.47 after the company reaffirmed its FY14 adjusted EBITDA and cash EPS guidance, and also reported that its cash access agreements with Caesars Entertainment will not be renewed.
REEDS (NYSE: REED) shares tumbled 12.50% to $7.00 after the company reported a FY loss of $0.12 per share on revenue of $37.28 million.
Francesca's Holdings (NASDAQ: FRAN) tumbled 9.61% to $18.86 after the company reported a 29% drop in its fiscal fourth-quarter earnings and issued a weak Q1 outlook.
Ballard Power Systems (NASDAQ: BLDP) shares fell 9.08% to $4.91 after jumping 32.19% on Tuesday.
Insmed (NASDAQ: INSM) shares tumbled 8.42% to $16.76 after the company reported that Arikayce did not meet pre-specified level for statistical significance.
International Game Technology (NYSE: IGT) shares slipped 4.24% to $14.22 after the company announced its plans to lower 7% of its workforce and cut its earnings guidance for the year.
Body Central (NASDAQ: BODY) shares dropped 27.16% to $1.18 after the company reported a Q1 loss of $0.74 per share on revenue of $66.20 million.
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