The market closed out the month of 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.
|May 6||Weekly Loss||My Watchlist|
Global Industries took a hit after posting a wider than expected quarterly deficit. The oilfield-services contractor may have a juicy backlog of orders, but investors weren't cheering the $0.30 a share loss. Wall Street figured that Global Industries would post a deficit of only $0.07 a share for the quarter.
Sky-mobi was the target of a scathing Citron Research report. Trashing a Chinese upstart has gone from being trendy to overdone, but Citron's been spot on in some of its bearish attacks over the years. Citron isn't impressed with the company's financials, and it's debunking the claim that the company runs China's top mobile app store. Citron is issuing a price target of $3 on the shares. That may be great if it was a penny stock, but Sky-mobi shares started last week in the $20s.
Shares of Swisher were flushed out as a pair of acquisitions and an unimpressive annual shareholder meeting did little to soothe investors. The provider of commercial hygiene and sanitation services manned by former Blockbuster honchos Wayne Huizenga and Steve Berrard has grown by consolidating a highly fragmented industry. It's apparently not enough for investors. The stock has shed nearly half of its value since hitting a 52-week high last month.
India's Internet stocks were rocked after several weeks of gains. Sify -- the Indian provider of connectivity, hosting, and other information technology-related services -- wasn't the only dot-com feeling the pain in the world's second most populous country. Web portal Rediff.com
Timberland shareholders were shouting "Tim-ber!" after the outdoor footwear giant posted quarterly results that were worthy of an outhouse. Margins got stomped as a 10% top-line gain was tripped up on the way to the bottom line. Timberland's profit of $0.35 a share fell well short of the $0.47 a share it posted a year ago and the $0.59 a share that analysts were targeting.
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.