5 of Last Week's Biggest Losers

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

May 3

Weekly Loss

Aveo Pharmaceuticals (NASDAQ: AVEO  )

$2.52

67%

ZAGG (NASDAQ: ZAGG  )

$5.00

27%

Nam Tai Electronics (NYSE: NTP  )

$8.59

24%

Glu Mobile (NASDAQ: GLUU  )

$2.84

11%

Cerus (NASDAQ: CERS  )

$4.78

10%

Source: Barron's.

Let's start with Aveo Pharmaceuticals. The once-promising biotech shed more than two-thirds of its value after the FDA advisory committee voted nearly unanimously against Aveo's tivozanib. Aveo's lead drug candidate has been hoping to gain regulatory clearance for the treatment of metastatic renal cancer carcinoma.

ZAGG also sagged. The seller of smartphone and tablet accessories tanked after falling woefully short of Wall Street's profit forecasts in its latest quarter. Sales fell, surprising analysts banking on growth. ZAGG earned roughly half as much as the pros were projecting.

Nam Tai tumbled after offering problematic guidance. Despite blowout quarterly results, the contract manufacturer is experiencing a sharp drop in orders. Nam Tai may cease its LCD module production altogether if business doesn't improve.

Smartphone game maker Glu Mobile disconnected with investors after following up better-than-expected results with weak guidance. Glu's projected quarterly loss will be wider than analysts were targeting this quarter, and it sees a sharper sequential decline in revenue than Wall Street was forecasting.

Finally, there will be blood at Cerus. The company behind the Intercept Blood System that reduces the risk of transfusion-transmitted diseases posted a much larger quarterly loss than the market was expecting.

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  • Report this Comment On May 05, 2013, at 3:31 PM, Paulson545 wrote:

    From now on i'm following the smart money investors. Legendary investor Dr Phillip Frost has been buying a lot of OPK and SFES.

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