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Morning Market Losers

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Glori Energy, Inc. (NASDAQ: GLRI) slipped 15.18% to $3.24. Crude oil futures fell 1.86% to trade at $49.11 a barrel.

Uranium Energy Corp. (NYSE: UEC) shares dropped 12.48% to $1.46.

China Gerui Advanced Materials Group Ltd. (NASDAQ: CHOP) shares declined 8.57% to $1.60 after the company reported a Q3 loss of $0.56 per share on revenue of $3.10 million.

Michael Kors Holdings Limited (NYSE: KORS) shares dropped 6.45% to $68.29. Analysts at Credit Suisse downgraded Michael Kors from Outperform to Neutral and lowered the price target from $103 to $79.

Hercules Offshore, Inc. (NASDAQ: HERO) tumbled 6.28% to $0.88.

Cerus Corporation (NASDAQ: CERS) fell 5.63% to $6.20 after the company announced a public offering of common stock.

Xoom Corporation (NASDAQ: XOOM) shares slipped 4.50% to $16.13. 8-K from Xoom showed that company has been a victim of criminal fraud related to employee impersonation. It is expecting $30.8 million in charge and projects Q4 sales of $43.1 to $43.6 million. Xoom filing also showed that CFO Matthew Hibbard has resigned. Monness Crespi Hardt downgraded Xoom from Buy to Neutral and lowered the price target from $30.00 to $18.00, according to Reuters.

Cyberonics Inc. (NASDAQ: CYBX) declined 3.84% to $55.57 after the company provided an update on Departmental Appeals Board decision regarding coverage of its VNS Therapy System.

CSX Corp. (NYSE: CSX) shares tumbled 3.67% to $33.60. Analysts at UBS downgraded CSX from Buy to Neutral and lowered the price target from $40 to $38.

Five Prime Therapeutics, Inc. (NASDAQ: FPRX) fell 2.41% to $26.27 after the company announced a $75 million offering of common stock.

 

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