5 of Last Week's Biggest Losers

There's never a shortage of stocks going the wrong way in any given chunk of time. No stock goes straight up, and sometimes fundamentals can get a bit wobbly. Let's take a closer look at five of this past week's biggest sinkers.

Company

June 27

Weekly Loss

Elizabeth Arden  (NASDAQ: RDEN  )

$22.22

21%

NQ Mobile  (NYSE: NQ  )

$6.07

17%

Steelcase  (NYSE: SCS  )

$15.52

12%

Intercept Pharmaceuticals  (NASDAQ: ICPT  )

$242.49

11%

AmSurg  (NASDAQ: AMSG  )

$45.36

10%

Source: Barron's.

Let's start with Elizabeth Arden. The struggling cosmetics distributor smeared investors after announcing a restructuring that scared off a potential suitor. South Korea's LG Household reversed on its earlier intentions to explore a buyout, seemingly spooked by Elizabeth Arden's move to bow out of poorly performing businesses. 

NQ Mobile also slipped on the week. The Chinese provider of mobile Internet services slumped after a negative Seeking Alpha article. NQ Mobile hasn't been the same since noted worrywart Muddy Waters called out its shoddy accounting several months ago, and the company hasn't done itself any favors by now going on two months without filing an audited annual report. 

Steelcase didn't get the job done. The office-furniture specialist posted disappointing financial results for its latest quarter. Revenue inched higher, but Steelcase's adjusted earnings of $0.08 a share were well short of the $0.12 the pros were targeting. Steelcase's guidance for the new quarter is also short of where analysts are perched.

Intercept Pharmaceuticals was intercepted by bears after revealing a delay in results from an important study with its leading candidate. Intercept is an upstart biotech trying to get its obeticholic acid to market for the treatment of primary biliary liver cirrhosis and nonalcoholic steatohepatitis, or NASH. The cirrhosis study is in the final stage of clinical trials, but the NASH application presents a larger opportunity even if it's a phase behind. 

Intercept was initially hoping to have FLINT phase 2 study results for its treatment of NASH available in July, but now it told investors at a conference presentation that the findings won't be ready by next month. There is no reason to believe that the delay will be long or that it's a sign that something's going wrong with the obeticholic acid. However, the market doesn't like delays or uncertainties.

Finally we have AmSurg calling in sick. The operator of ambulatory surgery centers flatlined after announcing and ultimately pricing a secondary offering. AmSurg priced 8.5 million shares at $45, a steep discount to where the stock was when the week began. It also sold 1.5 million shares of convertible preferred stock. 

Leaked: This coming device has every company salivating
The best investors consistently reap gigantic profits by recognizing true potential earlier and more accurately than anyone else. There is a product in development that will revolutionize not just how we buy goods, but also potentially how we interact with the companies we love on a daily basis. Analysts are already licking their chops at the sales potential. To outsmart Wall Street and realize multibagger returns, you will need The Motley Fool's new free report on the dream team responsible for this game-changing blockbuster. Click here now.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 3012104, ~/Articles/ArticleHandler.aspx, 9/18/2014 1:50:06 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement