By
Rick Aristotle Munarriz
|
More Articles
August 1, 2011
|
There's never a shortage of losers in the stock market.
Let's take a closer look at five of this past week's biggest sinkers.
|
Company
|
July 29
|
Weekly Loss
|
My Watchlist
|
|
TeleNav (Nasdaq: TNAV )
|
$10.03
|
(53%)
|
Add
|
|
Sequans (NYSE: SQNS )
|
$8.19
|
(47%)
|
Add
|
|
STEC (Nasdaq: STEC )
|
$10.17
|
(44%)
|
Add
|
|
Vistaprint (Nasdaq: VPRT )
|
$26.70
|
(41%)
|
Add
|
|
IMAX (NYSE: IMAX )
|
$18.96
|
(34%)
|
Add
|
Source: Barron's.
TeleNav shares shed more than half of their value after the navigation specialist revealed it will suffer sequential dips in revenue and profitability during the current quarter. The news was more than enough to offset its better-than-expected showing in fiscal-fourth-quarter results.
Sequans went public a little more than three months ago, hoping to cash in on the 4G revolution. Unfortunately for Sequans, demand for its wireless chips has been challenging, likely due in part to its dependence on a single handset maker -- HTC -- for the bulk of its recent revenue.
TeleNav wasn't the only stock to get slammed after posting jaw-dropping guidance. Solid-state drive maker STEC hit the deck after warning that its current quarter's results will come in well short of Wall Street's targets.
Why stop at STEC? Vistaprint also hosed down its near-term outlook. The provider of Web-based printing and design services now expects to earn between $1.58 a share and $1.68 a share in its new fiscal year. Analysts figured that Vistaprint would be good for net income of $2.64 a share.
IMAX turned into a horror flick after its latest quarter. Investors were banking on a profit of $0.20 a share, but the provider of premium theatrical screenings only mustered an adjusted profit of $0.07 a share. Exhibitors hope that movie buffs will continue to pay more for an enhanced cinematic experience. IMAX and 3-D outfitter RealD (NYSE: RLD ) continue to receive orders for more installations. Unfortunately, it just wasn't a very good quarter for IMAX.
It was a rough week for these five stocks. Let's see which ones bounce back this week.
RSS Headlines
Fool UK