5 of Last Week's Biggest Losers

There are always red arrows pointing down.

The losers are even easier to stop on crummy weeks, and that's just what we had last week with the Dow, S&P 500, and Nasdaq tumbling 1%, 1.3%, and 2.5%, respectively.

Let's take a closer look at five of this past week's biggest sinkers.

Source: Barron's.

Finisar shares lost nearly half of their value after the optical networking company delivered a disappointing financial report. Finisar's latest quarter was solid, but ho-hum near-term guidance sent longs scrambling for the now former high flier.

FX Energy ran out of power after a few unwelcome developments. FX Energy announced uninspiring discovery well data, completed a dilutive secondary offering, and posted a slightly wider than expected quarterly deficit.

Opnext was in the wrong place at the wrong time. Finisar's peer didn't have anything negative to announce last week, but Finisar's gloomy outlook was enough to send the optical networking sector sharply lower. Other optical networking bystanders including Oclaro (Nasdaq: OCLR) and NeoPhotonics (Nasdaq: NPTN) also lost nearly a third of their value. See what you've done, Finisar?

A larger than expected secondary offering scared away Fabrinet shareholders. The 7.2 million shares being sold off by insiders won't be dilutive, but it will fatten the float as insider stakes hit the open market. Cynical market watchers have a right to wonder why so many early investors are bailing.

Finally, we have Cheniere Energy trying to defend its good name by filing a lawsuit against hedge fund Centerbridge Partners. The hedge fund claims that a Cheniere subsidiary is in default on its debt. It's obviously a meaty allegation, so the uncertainty bogged down Cheniere even if the claim ultimately proves hollow.

It was a rough week for these five stocks. Let's see which ones bounce back this week.

Which of these five stocks do you think bottomed out last week? Share your thoughts in the comment box below.