By
Rick Aristotle Munarriz
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November 21, 2011
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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.
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Company
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Nov. 18
|
Weekly Loss
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My Watchlist
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| Rambus (Nasdaq: RMBS ) |
$8.41 |
(53%) |
Add |
| Perry Ellis (Nasdaq: PERY ) |
$12.54 |
(45%) |
Add |
| Meritor (NYSE: MTOR ) |
$5.21 |
(38%) |
Add |
| Daqo New Energy (NYSE: DQ ) |
$2.00 |
(29%) |
Add |
| MoneyGram (NYSE: MGI ) |
$16.25 |
(29%) |
Add |
Source: Barron's.
Rambus shares lost more than half of their value last week after coming up short in a courtroom battle against Micron Technology (Nasdaq: MU ) and Hynix Semiconductor.
SunTrust downgraded shares of Perry Ellis after the high-end apparel retailer revealed that it's been resorting to margin-munching discounts to move clothing. The company's fiscal third quarter was bad, and the discounting continues in November.
Truck parts manufacturer Meritor will have to hand mud flaps to shareholders after posting disappointing guidance. Meritor sees revenue of $4.8 billion in fiscal 2012, short of the $5.3 billion that analysts were banking on.
Daqo New Energy stumbled after announcing the departure of its CFO. Investors are a bit gun-shy about trusting the financials coming out of recent Chinese IPOs these days, so the polysilicon manufacturer's announcement wasn't welcome news.
MoneyGram shares became a little poorer after the company completed a secondary offering, despite announcing a large deal with State Bank of India.
It was a rough week for these five stocks. Let's see if they bounce back.
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