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Morning Market Losers

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Exelixis (NASDAQ: EXEL) shares tumbled 52.90% to $1.95 after the company announced its plans to lower around 70% of its workforce. The company reported that its phase 3 pivotal trial of cabozantinib did not meet primary endpoint.

Conns (NASDAQ: CONN) dropped 28.61% to $32.01 after the company reported weaker-than-expected second-quarter earnings and cut its full-year forecast.

Aastrom Biosciences (NASDAQ: ASTM) shares dipped 8.53% to $3.54.

Finisar (NASDAQ: FNSR) shares declined 5.22% to $19.25. Analysts at Jefferies downgraded Finisar from Buy to Hold and lowered the target price from $25 to $19.

Select Income REIT (NYSE: SIR) shares dropped 5.16% to $26.46. Select Income REIT announced its plans to acquire Cole Corporate Income Trust for $3 billion in a cash and stock deal.

Elbit Imaging (NASDAQ: EMITF) fell 2.02% to $3.88 after falling 3.04% on Friday.

Newmont Mining (NYSE: NEM) shares slipped 1.85% to $26.59 after the company reached a tentative deal with the Indonesian government over an export dispute.

 

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Posted-In: market losersNews Movers & Shakers Intraday Update Markets

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