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Market Overview

15 Biggest Mid-Day Losers For Friday



  • Ocean Power Technologies Inc (NASDAQ: OPTT) tumbled 24.9 percent to $3.02. Ocean Power priced 2.4 million shares at $2.75 per share.
  • Taylor Devices, Inc. (NASDAQ: TAYD) shares fell 24.5 percent to $14.92. Taylor Devices reported Q1 earnings of $0.06 per share on revenue of $5.76 million.
  • Natural Health Trends Corp. (NASDAQ: NHTC) shares dropped 22.9 percent to $20.95. Natural Health Trends projects Q3 sales of $70.7 million, down 12 percent on year-over-year basis. The company is expected to report its Q3 financial results on October 25, 2016.
  • Biocept Inc (NASDAQ: BIOC) shares declined 21.6 percent to $0.910. Biocept reported the pricing of $10 million offering of common stocks and warrants.
  • Flex Pharma Inc (NASDAQ: FLKS) fell 14.8 percent to $7.18. Flex Pharma provided regulatory and clinical updates for FLX-787, the company’s pharmaceutical transient receptor potential [TRP] ion channel agonist. Commenting on Flex Pharma’s Q3 results, H.C. Wainwright’s Andrew S. Fein said in a report that any visibility on sales, population and stores would likely be “a disproportionately strong stock catalyst.”
  • Smith Micro Software, Inc. (NASDAQ: SMSI) shares declined 10.9 percent to $1.97. Smith Micro lowered its Q3 sales outlook to around $6.5 million, versus earlier forecast of $7.9 million to $8.4 million. The company will report its Q3 financial results on October 26, 2016.
  • bluebird bio Inc (NASDAQ: BLUE) shares dropped 9.2 percent to $59.24. Cantor Fitzgerald downgraded bluebird bio from Hold to Sell.
  • Egalet Corp (NASDAQ: EGLT) declined 6.1 percent to $7.06 after the company disclosed the FDA would not meet today's prescription drug user fee act (PDUFA) date for its ARYMO ER. The company revealed it was informed the regulator did not have any specific issue in respect of its application for ARYMO ER and that the FDA is working on the label of the product.
  • Infosys Ltd ADR (NYSE: INFY) shares dropped 5.8 percent to $15.69. For its fiscal second quarter, Infosys posted consolidated net profit of 36.06 billion rupees ($542 million) on revenue of 173.1 billion rupees. The company also lowered its annual revenue growth forecast.
  • Boston Beer Company Inc (NYSE: SAM) shares fell 5.4 percent to $154.34. Berenberg downgraded Boston Beer from Hold to Sell.
  • Landmark Infrastructure Partners LP (NASDAQ: LMRK) shares declined 4.8 percent to $16.32 after the company reported an offering of 3 million common units.
  • Hortonworks Inc (NASDAQ: HDP) shares fell 4.4 percent to $6.86. Goldman Sachs downgraded Hortonworks from Buy to Sell and lowered the price target from $13.00 to $7.00.
  • IntelliPharmaCeutics Intl Inc (USA) (NASDAQ: IPCI) fell 4.1 percent to $2.78. IntelliPharmaCeutics posted Q3 net loss of $0.07 per share, versus a year-ago net loss of $0.08 per share.
  • United Rentals, Inc. (NYSE: URI) dropped 3.3 percent to $75.63. UBS downgraded United Rentals from Neutral to Sell.
  • HP Inc (NYSE: HPQ) shares fell 2.3 percent to $14.80 after the company disclosed that it would be implementing a restructuring plan that would likely result in the firing of 3,000 to 4,000 employees, annual savings of $200 million to $300 million, and a charge of $350 million to $500 million. Management also announced a 7 percent surge in the stock’s dividend and an additional $3 million share repurchase program. The company issued its outlook for fiscal 2017, guiding for EPS of $1.55 to $1.65, mostly below the Street’s consensus of $1.64.

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