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.
|March 16||Weekly Loss||My Watchlist|
|Primo Water ||$2.06||(23%)||Add|
|STR Holdings ||$4.95||(21%)||Add|
|McEwen Mining ||$4.03||(20%)||Add|
Anthera Pharmaceuticals was last week's biggest loser, shedding a little more than half of its value after revealing the ineffectiveness of its late-stage experimental drug varespladib. The once-promising drug was targeting the treatment of short-term acute coronary syndrome. Unfortunately, it's not just the stock that was cut in half. Anthera also conceded that it will be letting nearly half of its employees go.
Primo Water took a spill after the exchangeable bottled water provider posted ho-hum quarterly results and hosed down its guidance for the year ahead.
Solar energy companies have been posting brutal quarterly results this season, and it was STR's turn to get scorched. STR posted a wider-than-expected deficit on a 47% plunge in revenue.
Zhongpin flung mud on its shareholders after posting uninspiring guidance. The Chinese pork processor sees profit margins taking a hit this year as pork prices fall 15% to 20% despite improving demand.
Finally, Rob McEwen's midtier silver mining company stumbled despite posting a somewhat encouraging update that included a payout from its interest in an Argentinean mine.
Ready for a bounce
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