There's never a shortage of losers in the stock market.
Let's take a closer look at five of this past week's biggest sinkers.
|
Company |
Nov. 2 |
Weekly Loss |
My Watchlist |
|---|---|---|---|
|
Active Network (ACTV) |
$5.42 |
(40%) |
|
|
Western Union (WU 0.27%) |
$11.95 |
(33%) |
|
|
Vringo (NYSEMKT: VRNG) |
$2.77 |
(31%) |
|
|
Glu Mobile (GLUU) |
$2.56 |
(21%) |
|
|
VIVUS (VVUS) |
$14.33 |
(18%) |
Source: Barron's.
The Big Board's biggest sinker last week was Active Network. The leading provider of online registrations for marathons, triathlons, and other organized events was running the wrong way after a poorly received quarterly report.
Active Network's eyeing a larger-than-expected sequential dip in revenue for the fourth quarter, and targeting another net loss on top-line growth of 12% to 14% in 2013 was shy of what the market was expecting.
Western Union bounced like a bad check after the money-transfer giant offered up unimpressive guidance. Western Union is lowering prices in key markets in a move to combat competitive pressures, and that obviously won't help results in the near term.
Vringo stumbled after a judge moved to narrow the window of prior damages that the company can go after in its patent infringement suit against several dot-com bellwethers.
Several analysts moved to downgrade Glu Mobile on Friday after the app maker posted troublesome guidance. It sees a widening deficit for the period, expecting revenue to come in as much as 27% below Wall Street's top-line target.
VIVUS shed some weight after health-care research firm IMS Health reported that physicians have been writing far fewer prescriptions for VIVUS' anti-obesity drug, Qsymia, than Wall Street was expecting this quarter.
