10 Biggest Mid-Day Losers For Friday
- VeriFone Systems Inc (NYSE: PAY) shares dropped 19.5 percent to $16.18. VeriFone reported upbeat earnings for its third quarter, but sales missed expectations. The company also lowered its guidance for 2016.
- ChemoCentryx Inc (NASDAQ: CCXI) shares dipped 14.6 percent to $4.52 as the company reported initial results from ongoing Phase Ib clinical trial of CCX872 in patients with advanced pancreatic cancer.
- Lululemon Athletica inc. (NASDAQ: LULU) shares fell 9.4 percent to $69.45. Lululemon reported in-line earnings for the second quarter, but revenue missed analysts’ estimates. The company also issued a weak earnings forecast for the current quarter.
- Ambarella Inc (NASDAQ: AMBA) shares declined 6.5 percent to $67.11. Ambarella posted stronger-than-expected results for the second quarter on Thursday. However, the company issued disappointing gross profit margin guidance for the ongoing quarter.
- Smith & Wesson Holding Corp (NASDAQ: SWHC) shares dropped 6.3 percent to $27.71. Smith & Wesson posted better-than-expected results for the first quarter and issued a strong forecast for the current quarter.
- Carnival Corp (NYSE: CCL) shares slipped 5.3 percent to $46.13. Morgan Stanley downgraded Carnival from Equal-weight to Underweight and lowered the price target from $54.00 to $48.00.
- Liberty Tax Inc (NASDAQ: TAX) declined 5 percent to $12.80. Liberty Tax posted a Q1 loss of $0.66 per share on revenue of $7.1 million.
- STMicroelectronics NV (ADR) (NYSE: STM) shares dropped 3.5 percent to $7.28. Bank of America downgraded STMicroelectronics from Neutral to Underperform.
- Cash America International, Inc. (NYSE: CSH) fell 3.1 percent to $42.20. First Cash Financial Services Inc (NASDAQ: FCFS) disclosed the completion of the merger between First Cash Financial Services and Cash America.
- Broadcom Ltd (NASDAQ: AVGO) shares fell 2.2 percent to $173.26. Broadcom reported upbeat earnings for its third quarter on Thursday.
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