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

July 3

Weekly Loss

NQ Mobile  (NYSE: NQ  )

$4.58

25%

STAAR Surgical  (NASDAQ: STAA  )

$14.15

15%

Acuity Brands  (NYSE: AYI  )

$118.88

13%

Synageva BioPharma  (NASDAQ: GEVA  )

$89.91

13%

Energy Recovery  (NASDAQ: ERII  )

$4.91

10%

Source: Barron's.

Let's start with NQ Mobile. The Chinese provider of mobile Internet services shed a quarter of its value after falling by 17% the week before. NQ Mobile's pain this week came after its independent auditors decided to expand their audit of its questionable finances. Making matters worse, NQ Mobile's head of its audit committee announced over the weekend that she will step down. If there was a lack of faith in NQ Mobile before it's a gaping void now.

STAAR Surgical slumped after receiving a warning letter from the FDA. The agency is concerned about the maker of implantable lenses and delivery systems for the eye's facility in California, alleging inadequate procedures for documenting design, complaints, and required records. William Blair rushed to STAAR's defense, feeling that the unintentional disorganization is an easy fix and that it should not affect STAAR's operations in the future. 

Shares of Acuity Brands dimmed after posting uninspiring quarterly results. Sales climbed 12% to $603.9 million and adjusted earnings inched higher to $1 a share. However, analysts were holding out for a profit of $1.13 a share on $609 million. Acuity Brands used to be a consistent market beater, but now it has posted back-to-back quarters of falling short on the bottom line.

It seemed initially to be a "sell on the news" event after Synageva BioPharma sold off after announcing that its drug candidate met primary goals in a late-stage clinical trial for the treatment of lysosomal acid lipase deficiency. However, analysts then chimed in with responses that were less than enthusiastic. Citigroup initiated coverage with a ho-hum "neutral" rating. Leerink stuck to its "market perform" rating, concerned about the small market for the treatment. 

Finally we have Energy Recovery losing steam after the departure of its CFO. Energy Recovery is a specialist in capturing reusable energy from industrial fluid flows and pressure cycles. It clearly didn't help matters that Barron's covered the executive shuffle with the "Energy Recovery May Not Make It" headline. CFOs leave. It happens. However, it does create uncertainty.

Leaked: This coming consumer device can change everything
Imagine the multibillion-dollar sales potential behind a product that can revolutionize the way the world shops and interacts with its favorite brands every day. Now picture one small, under-the-radar company at the epicenter of this revolution that makes this all possible. And its stock price has nearly an unlimited runway ahead for early, in-the-know investors. To be one of them and hop aboard this stock before it takes off, just click here.  


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: 3018659, ~/Articles/ArticleHandler.aspx, 9/22/2014 2:28:25 AM

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