Morning Market Losers
Targacept Inc (NASDAQ: TRGT) shares dipped 25.58% to $5.79 at 9:50 am. Targacept announced top-line results from the second of four RENAISSANCE Phase 3 studies of TC-5214 as an adjunct therapy in patients with major depressive disorder.
Citizens South Banking Corp (NASDAQ: CSBC) shares lost 23.68% to $2.90. CSBC's PEG ratio is -2.70.
SPAR Group Inc (NASDAQ: SGRP) dropped 7.89% to $1.05. SGRP's trailing-twelve-month profit margin is 3.21%.
Red Hat Inc (NYSE: RHT) fell 6.84% to $42.90. RHT projected current-quarter earnings of $0.26 to $0.27 per share on revenue of $289 to $292 million. However, analysts were expecting a profit of $0.26 per share on revenue of $292.5 million.
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