May 21, 2012
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.
|Patriot Coal (NYSE: PCX )
|SmartHeat (Nasdaq: HEAT )
|Cellcom Israel (NYSE: CEL )
|Yingli Green Energy (NYSE: YGE )
|American Science & Engineering (Nasdaq: ASEI )
Patriot Coal was the biggest loser on the New York Stock Exchange, losing more than a third of its value after a weak forecast forced Standard & Poor's to downgrade the company's credit rating on liquidity concerns.
SmartHeat felt the heat after posting uninspiring quarterly results. The Chinese clean energy specialist announced a widening deficit on a 15% decline in revenue.
Cellcom Israel took a hit after posting a 43% decline in quarterly earnings. In another piece of bad news for Israeli's largest wireless carrier, the stock will be booted from MSCI's Israel Index after shedding more than two-thirds of its value over the past year.
Yingli Green Energy joined many other solar companies on the way down after the U.S. Commerce Department stepped up its efforts regarding anti-dumping tariffs.
Finally, American Science & Engineering fell woefully short of Wall Street expectations in its latest quarter. The provider of X-ray inspection equipment posted a profit of $0.15 a share on $39.8 million. Analysts were banking on net income of $0.83 a share on $60.7 million in revenue. You don't need to X-ray those results to know that there's something wrong.
Ready for a bounce
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