12 Biggest Mid-Day Losers For Friday

Enphase Energy Inc ENPH shares dropped 26.1 percent to $1.24 after disclosing restructuring and cost reduction initiatives, which are expected to result in annualized savings of approximately $20 million. The plan includes an 11 percent reduction of the company’s global workforce and the elimination of some non-core projects, at a cost of $3 million. Management said it has plans for a public offering of common stock, although the size is yet to be publicized.
Digital Turbine Inc APPS shares fell 15.8 percent to $1.04. Digital Turbine reported the pricing of $16 million offering of its 8.75 percent Convertible Senior Notes due 2020.
Rave Restaurant Group Inc RAVE dropped 14.1 percent to $3.30. RAVE Restaurant reported a Q4 loss of $2.3 million on revenue of $15.7 million.
Catabasis Pharmaceuticals Inc CATB declined 12.6 percent to $4.37 after the company reported the pricing of 2.5 million shares offering of common stock at $4 per share.
Capitala Finance Corp CPTA dropped 10.4 percent to $13.06. Capitala Finance lowered its monthly dividend in Q4 to $0.13 from $0.1567. Wunderlich downgraded Capitala Finance from Buy to Hold and lowered the price target from $15.50 to $14.50.
Houghton Mifflin Harcourt Co HMHC shares fell 8.9 percent to $13.56 as the company reported the resignation of its CEO Linda Zecher. The board named L. Gordon Crovitz as interim CEO.
Oshkosh Corp OSK fell 8.8 percent to $51.91. Oshkosh issued downbeat outlook for the fiscal year 2017 though it offered upbeat forecast for the current fiscal year.
IntelliPharmaCeutics Intl Inc (USA) IPCI shares slipped 8.1 percent to $2.11 after surging 23.44 percent on Thursday.
Finish Line Inc FINL declined 4 percent to $23.05. Finish Line reported in-line earnings for its second quarter, while sales exceeded expectations. The company also reiterated its full year EPS outlook that is in line with predictions.
Santander Mexico Fincl Gp SAB deCV (ADR) BSMX dropped 3.8 percent to $8.45. Goldman Sachs downgraded Santander Mexico from Neutral to Sell.
Rowan Companies PLC RDC fell 3.5 percent to $13.57. Credit Suisse downgraded Rowan from Outperform to Neutral and lowered the price target from $15 to $13.
8Point3 Energy Partners LP CAFD shares declined 3.2 percent to $14.73 after the company priced an underwritten public offering of 7,000,000 shares at $14.65 per share.

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