Market Overview

12 Biggest Mid-Day Losers For Friday

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  • Enphase Energy Inc (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NYSE: 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) (NASDAQ: IPCI) shares slipped 8.1 percent to $2.11 after surging 23.44 percent on Thursday.
  • Finish Line Inc (NASDAQ: 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) (NYSE: BSMX) dropped 3.8 percent to $8.45. Goldman Sachs downgraded Santander Mexico from Neutral to Sell.
  • Rowan Companies PLC (NYSE: 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 (NASDAQ: 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.

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

 

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