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15 Biggest Mid-Day Losers For Tuesday

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  • Xtera Communications Inc (NASDAQ: XCOM) shares dropped 45.7 percent to $0.380 after the company reported that it has received a notice of termination of the Master Manufacturing Agreement with Foxconn.
  • Biostar Pharmaceuticals Inc (NASDAQ: BSPM) dropped 32.6 percent to $2.73 following Q2 results. Biostar Pharmaceuticals reported a quarterly net loss of $6.9 million on revenue of $0.6 million.
  • Sophiris Bio Inc (NASDAQ: SPHS) shares declined 30.8 percent to $4.03 on the announcement of an equity offering of stock and warrants.
  • Cosi Inc (NASDAQ: COSI) tumbled 19.7 percent to $0.250 after the announcement that CEO and President Robert Dourney had been fired, while CFO Miguel Rossy-Donovan had resigned, to work for another company. Board member Patrick Bennett will serve as interim CEO until a permanent replacement is found.
  • Zoe's Kitchen Inc (NYSE: ZOES) shares dropped 19 percent to $30.17. Zoe's Kitchen reported in-line earnings for the second quarter, but revenue missed analysts’ estimates. The company also trimmed its 2016 revenue outlook.
  • Lpath, Inc. (NASDAQ: LPTN) shares declined 16.7 percent to $2.65. Lpath filed a $10 million mixed shelf offering.
  • Tokai Pharmaceuticals Inc (NASDAQ: TKAI) shares dropped 16.1 percent to $1.14 as the company announced plans to discontinue enrollment for Armor2 expansion clinical trial.
  • Kirkland's, Inc. (NASDAQ: KIRK) shares fell 15.9 percent to $12.40 as the company posted a wider-than-expected Q2 loss and issued a weak FY 2016 earnings forecast.
  • Bonso Electronics International Inc. (NASDAQ: BNSO) declined 13.5 percent to $1.96. On Monday, Bonso Electronics reported FY16 earnings of $0.55 per share on revenue of $23.9 million.
  • J M Smucker Co (NYSE: SJM) shares dropped 8 percent to $143.78. Smucker reported better-than-expected first-quarter earnings, but revenue fell short of estimates. The company maintained its adjusted EPS forecast for the full year.
  • Tuniu Corp (NASDAQ: TOUR) declined 7.6 percent to $8.79. Tuniu reported a Q2 loss of $0.90 per ADS on revenue of $355.45 million and announced a $150 million share repurchase program.
  • Premier Inc (NASDAQ: PINC) shares declined 7.4 percent to $31.25 after the company posted downbeat quarterly results.
  • SeaChange International (NYSE: SEAC) shares slipped 7.2 percent to $3.08 after the company issued a weak forecast for the second quarter.
  • Pan American Silver Corp. (USA) (NASDAQ: PAAS) fell 4 percent to $19.72. BMO Capital downgraded Pan American Silver from Outperform to Market Perform.
  • ResMed Inc. (NYSE: RMD) dropped around 3 percent to $67.90. Jefferies downgraded ResMed from Hold to Underperform.
 

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