Market Overview

12 Biggest Mid-Day Losers For Friday

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  • Qumu Corp (NASDAQ: QUMU) shares tumbled 29.4 percent to $3.25 as the company reported weak preliminary financial results for the second quarter.
  • Basic Energy Services, Inc (NYSE: BAS) shares fell 26.1 percent to $0.94. On Thursday, Basic Energy Services reported a loss of $89.9 million on revenue of $120 million.
  • Skechers USA Inc (NYSE: SKX) shares dropped 21.3 percent to $25.34 as the company posted weaker-than-expected results for its second quarter on Thursday.
  • Contango Oil & Gas Company (NYSE: MCF) shares dipped 21 percent to $9.88. Contango reported an offering of 5 million shares.
  • Olin Corporation (NYSE: OLN) declined 20.6 percent to $20.72 after the company updated its guidance. Olin projects Q2 net income to be breakeven and adjusted EBITDA of $180 million. It also expects FY16 adjusted EBITDA of $840 million to $900 million.
  • ContraFect Corp (NASDAQ: CFRX) dropped 15.1 percent to $2.44. ContraFect priced $35 million public offering of common stock and warrants.
  • Abaxis Inc (NASDAQ: ABAX) shares fell 14 percent to $47.09 as the company posted weak quarterly earnings and announced a $30 million increase in buyback plan.
  • athenahealth, Inc (NASDAQ: ATHN) shares declined 12.2 percent to $120.41 after the company posted downbeat Q2 earnings.
  • Heat Biologics Inc (NASDAQ: HTBX) shares fell 8.8 percent to $0.792. Heat Biologics reported the suspension of proposed public offering of common stock announced on July 21, 2016.
  • Skyworks Solutions Inc (NASDAQ: SWKS) shares dropped 8.5 percent to $64.86. Skyworks Solutions reported Q3 adjusted earnings of $1.24 per share on sales of $751.7 million. The company also announced a $400 million buyback plan.
  • TESSCO Technologies, Inc. (NASDAQ: TESS) shares fell 8 percent to $13.16. TESSCO reported Q1 earnings of $0.01 per share on revenue of $128.9 million.
  • Paypal Holdings Inc (NASDAQ: PYPL) shares dropped 6.9 percent to $37.37. Paypal posted in-line earnings for its second quarter. However, the company exceeded analysts’ sales expectations. The company raised its revenue forecast and announced a partnership with Visa Inc (NYSE: V).

Posted-In: Mid-Day LosersNews Movers & Shakers Intraday Update Markets

 

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