5 of Last Week's Biggest Losershttp://www.fool.com/investing/general/2014/06/08/5-of-last-weeks-biggest-losers.aspx Rick Munarriz
June 8, 2014
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.
Let's start with Rally Software Development. The ironically named sinker lost a third of its value after posting uninspiring financial results. The provider of cloud-based enterprise software solutions plunged after posting another quarterly loss and hosing down its top-line outlook for the entire fiscal year. Rally now sees a loss of as much as $1.36 a share for fiscal 2015 -- less than it had originally projected -- but its new revenue target of $87 million to $90 million is short of its earlier range of $91.5 million to $93.5 million.
It was a bad week for China's solar energy stocks. Yingli Green Energy was one of the many stocks to take a hit after the U.S. Commerce department made a preliminary decision to impose duties of as much as 35% on imports of solar energy products. This will naturally make it harder for Chinese companies to land stateside deals, but the double-digit percentage drops across several of the players may be overdone given the global inevitability of solar power.
Zynga was a zinger after the casual gaming giant's CEO failed too woo institutional investors at an investing conference. CEO Don Mattrick -- who left a leadership position at Xbox to take the helm at Zynga -- presented at the Bank of America Merrill Lynch 2014 Global Technology Conference on Wednesday afternoon. One analyst in attendance argued that t