Morning Market Losers

Exelixis 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 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 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 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 BLDP shares fell 9.08% to $4.91 after jumping 32.19% on Tuesday. Insmed 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 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 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.