Market Overview

12 Biggest Mid-Day Losers For Wednesday

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  • Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) shares dropped 19.1 percent to $5.67 after the company issued a profit warning for the third quarter.
  • IEC Electronics Corp (NYSE: IEC) shares declined 18.4 percent to $4.16. IEC Electronics confirmed workforce reduction of 73 employees.
  • Biostar Pharmaceuticals Inc (NASDAQ: BSPM) shares dipped 17 percent to $4.61 after climbing 61.81 percent on Tuesday.
  • Adaptimmune Therapeutics PLC – ADR (NASDAQ: ADAP) shares fell 11.3 percent to $5.82 after the company issued an update on clinical study evaluating its SPEAR® T-cell therapy targeting NY-ESO-1 in ovarian cancer.
  • Fortinet Inc (NASDAQ: FTNT) shares declined 11.2 percent to $30.27 after the company lowered its outlook for the third quarter on Tuesday.
  • RXi Pharmaceuticals Corp (NASDAQ: RXII) shares fell 10.7 percent to $1.52 after the company announced plans to conduct securities offering.
  • MGT Capital Investments Inc. (NYSE: MGT) slipped 9.6 percent to $2.26 after gaining 39.66 percent on Tuesday.
  • Theravance Biopharma Inc (NASDAQ: TBPH) shares declined 9.2 percent to $34.00. Baird downgraded Theravance Biopharma from Neutral to Underperform.
  • Nokia Corp (ADR) (NYSE: NOK) shares dropped 4.6 percent to $5.14 on the heels of Ericsson warning.
  • LPL Financial Holdings Inc (NASDAQ: LPLA) shares fell 4.3 percent to $31.60. JP Morgan downgraded LPL Financial from Overweight to Neutral.
  • Alcoa Inc (NYSE: AA) dropped 3 percent to $27.10. Bank of America downgraded Alcoa from Buy to Neutral.
  • FireEye Inc (NASDAQ: FEYE) shares slipped 2 percent to $13.05 on Fortinet warning.
 

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