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Morning Market Losers

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Rite Aid (NYSE: RAD) shares fell 12.12% to $7.47 after the company lowered its FY14 earnings forecast from $0.31 to $0.42 per share to $0.30 to $0.40 per share. The company's same-store sales increased 3.5% in May.

RCS Capital (NYSE: RCAP) shares dropped 8.41% to $20.70 after the company priced 24 million share offering at $20.25 per share.

Novavax (NASDAQ: NVAX) shares tumbled 6.50% to $4.75 after the company announced a $100 million public offering of common stock.

PVH (NYSE: PVH) declined 6.23% to $122.54 after the company reported weaker-than-expected first-quarter results and lowered its full-year earnings outlook.

Vera Bradley (NASDAQ: VRA) shares declined 5.98% to $23.74 after the company reported downbeat quarterly sales and lowered its outlook for the year.

Smith & Nephew plc (NYSE: SNN) tumbled 5.02% to $92.39. Medtronic (NYSE: MDT) is discussing a takeover bid for Smith & Nephew, according to Bloomberg.

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