Market Overview

12 Biggest Mid-Day Losers For Friday

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  • Vectrus Inc (NYSE: VEC) shares tumbled 46.3 percent to $14.85 on news of the government rejecting the company's contract proposal to provide comprehensive support services for all US Army facilities in Kuwait.
  • Threshold Pharmaceuticals, Inc. (NASDAQ: THLD) shares dropped 43.3 percent to $0.669 after the company disclosed interim results from its Tarloxotinib program. The company announced that it will discontinue investment in its Tarloxotinib program and will focus on evofosfamide program and earlier-stage opportunities.
  • Shineco Inc (NASDAQ: TYHT) shares fell 31.2 percent to $11.27.
  • Delcath Systems, Inc. (NASDAQ: DCTH) dropped 24.1 percent to $2.62. Delcath priced its 425,000 share offering at $3 per share.
  • CalAmp Corp. (NASDAQ: CAMP) shares dropped 14.5 percent to $14.03. CalAmp reported in-line earnings for the second quarter, but sales missed expectations. The company also issued disappointing guidance for the third quarter.
  • Ophthotech Corp (NASDAQ: OPHT) shares fell 12.5 percent to $47.36. The decline is attributed to an announcement by Regeneron Pharmaceuticals Inc (NASDAQ: REGN), a larger biopharmaceutical peer whose therapies also treat eye diseases.
  • Cognizant Technology Solutions Corp (NASDAQ: CTSH) shares declined 12.2 percent to $48.32 after the company the company disclosed that it is carrying out an investigation on whether any payments in respect of Indian facilities were made improperly. The company believes if any such payments happened, then it would invite FCPA in the United States. Cognizant also revealed the naming of Rajeev Mehta as president citing that Gordon Coburn has resigned from the position. Citigroup downgraded Cognizant Tech from Buy to Neutral and lowered the price target from $68.00 to $55.00.
  • SunLink Health Systems, Inc. (NYSE: SSY) shares dropped 10 percent to $1.16. SunLink posted a Q4 loss from continuing operations of $0.09 per share, versus a year-ago loss from continuing operations of $0.00 per share. The company adopted shareholder rights plan to protect tax benefits.
  • VolitionRX Ltd (NYSE: VNRX) shares declined 8.5 percent to $5.08. VolitionRx priced its 2.25 million share offering at $5 per share.
  • Alcobra Ltd (NASDAQ: ADHD) fell 4 percent to $2.41. Piper Jaffray downgraded Alcobra from Overweight to Neutral.
  • Core-Mark Holding Company, Inc. (NASDAQ: CORE) dropped 3.1 percent to $35.71. Jefferies downgraded Core-Mark from Buy to Hold.
  • Extended Stay America Inc (NYSE: STAY) shares fell 2 percent to $14.25 after the company reported the pricing of secondary offering and repurchase of Paired Shares.
 

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