The market closed out April on a strong week, but there are always losers to be found.
Let's take a closer look at five of this past week's biggest sinkers.
|April 29||Weekly Loss||My Watchlist|
Chinese bromine producer Gulf Resources took a hit after the surfacing of fraud allegations. A smallish Chinese company being accused of financial shenanigans? We're seeing a lot of this lately. The stock bounced back on Thursday after Gulf Resources issued a press release disputing the knocks, but it was still a rough week.
OfficeMax shares met the shredder after the office supply superstore chain posted crummy quarterly results. Margins contracted as earnings plunged 53%. OfficeMax's dreary performance came just two days after rival Office Depot
3-D Systems actually came through with a solid quarter. Profitability more than tripled on a 51% surge in revenue. The maker of 3-D printers even declared a 2-for-1 stock split! Then again, that last point may tip some worrywarts off. 3-D Systems had seen its stock pop fourfold heading into its quarterly report. There was bound to be a letdown after a euphoric run. It should be temporary if 3-D Systems continues to grow at this impressive clip.
There were coupons for Harte-Hanks stock certificates after the real world marketer posted quarterly results that weren't worth clipping out. The direct marketing service missed Wall Street's profit target on flat revenue growth.
MIPS felt more like DIPS after the consumer electronics chipmaker followed a ho-hum quarter with equally uninspiring guidance.
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.