Motley Fool analyst John Reeves gives us his weekly wrap-up, discussing three companies that cratered this week. The big story was Apple (NASDAQ:AAPL), which is now down 11% for the week and a staggering 35% from its highs last fall. In the video below, Reeves discusses the aftermath of Apple's earnings call, as well as the bear vs. bull case for the company.
He then moves on to high-end retailer Coach, (NYSE:TPR), which fell 17% after reporting weaker-than-expected domestic sales. Competition in the handbag space was one culprit blamed by Coach, turning all eyes to Michael Kors (NYSE:KORS), a competitor that has slowly but surely been stealing market share. Finally, Arena Pharmaceuticals (NASDAQ:ARNA) is down 11% for the week following news that the EU had questions about its weight loss drug. While approved for sale in the U.S., the EU has yet to sign off on the drug, meaning that Arena shares will likely remain volatile for the near future.
John Reeves owns shares of Apple. The Motley Fool recommends and owns shares of Apple and Coach. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.