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.
|Accretive Health (NYSE: AH )
|Leap Wireless (Nasdaq: LEAP )
|Deckers Outdoor (Nasdaq: DECK )
|Big Lots (NYSE: BIG )
|Vringo (AMEX: VRNG )
Accretive Health was last week's biggest loser, shedding more than half of its value after Minnesota's attorney general widened the scope of an investigation with implications for the provider of revenue cycle management services.
Leap Wireless hung up on investors after posting disappointing quarterly results. Analysts figured that the prepaid cell phone service provider would post a narrowing deficit, but instead Leap Wireless saw its loss widen during the period.
Deckers Outdoor turned UGG into ugly after coming up short on the bottom line in its latest quarter. Management now sees earnings declining by 9% to 10% for all of 2012.
Big Lots didn't get bigger last week. The discount retailer hit the clearance bin itself after warning that same-store sales will be negative in the current quarter. It may not be a surprise to see consumer electronics suffering. That's happening at most brick-and-mortar retailers. However, Big Lots even complained about weakness in the food and clothing categories.
Vringo has been one of this year's biggest winners, as the obscure visual ringtone app maker went on to acquire some patents last month and attracted the speculative attention of Mark Cuban earlier this month. However, in the end, this is really just a small profitless company with $718,000 in revenue last year. A sell-off after the surge makes perfect sense. Besides, Vringo shares have still more than tripled in 2012.
Ready for a bounce
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