Market Overview

Morning Market Losers

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Gigamon (NYSE: GIMO) slipped 33.11% to $12.16 after the company warned that second-quarter revenue will fail to meet expectations. Goldman Sachs downgraded Gigamon from Buy to Neutral and lowered the target price from $29 to $14.

The Container Store Group (NYSE: TCS) shares declined 13.15% to $23.51 after the company reported a wider-than-expected fiscal first-quarter loss and issued a downbeat forecast for full year 2014.

Portugal Telecom, SGPS S.A. (NYSE: PT) shares fell 6.40% to $2.78.

Salix Pharmaceuticals (NASDAQ: SLXP) tumbled 4.83% to $130.64 after the company agreed to merge with a unit of Cosmo Pharmaceuticals SpA.

Silicon Image (NASDAQ: SIMG) shares slipped 3.81% to $4.80 after the company lowered its Q2 revenue forecast.

Marvell Technology Group (NASDAQ: MRVL) shares dipped 2.19% to $14.32 after Oppenheimer downgraded the stock from Market Perform to Underperform.

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