Morning Market Losers

Rite Aid 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 RCAP shares dropped 8.41% to $20.70 after the company priced 24 million share offering at $20.25 per share. Novavax NVAX shares tumbled 6.50% to $4.75 after the company announced a $100 million public offering of common stock. PVH 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 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 SNN tumbled 5.02% to $92.39. Medtronic MDT is discussing a takeover bid for Smith & Nephew, according to Bloomberg.