Morning Market Losers

Insmed INSM dropped 23.13% to $13.26 after the company reported that it will file a Marketing Authorization Application in Europe for Arikayce by the end of 2014. The company also announced that it will start its Phase 3 study. ITT Educational Services ESI declined 20.13% to $11.43. Form 8-K from ITT Educational Services showed that the company has entered into a Fourth Amendment to Credit Agreement, Consent and Waiver, and College Portfolio has terminated the Sale Leaseback Agreement. Alere ALR shares slipped 8.34% to $36.62 after the company reported weaker-than-expected second-quarter results. Origin Agritech SEED declined 6.39% to $2.05 after the company reported a Q3 loss of $0.11 per share on revenue of $15.1 million. GreenHunter Resources GRH shares fell 6.25% to $2.25 after the company reported Q2 results. Tsakos Energy Navigation TNP dropped 5.10% to $6.55 after the company reported six month and second quarter financial results. Impax Laboratories IPXL dipped 4.02% to $22.68 after the company reported that the FDA has performed inspection of its Hayward facility. Transocean RIG shares declined 2.55% to $39.41 after declining 3.87% last week. Deutsche Bank downgraded Transocean from Hold to Sell and cut the price target from $45.00 to $27.00.