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5 of Last Week's Biggest Losers

By Rick Munarriz - Dec 1, 2013 at 10:15AM

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These five stocks posted double-digit percentage declines.

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. 29

Weekly Loss

Net 1 UEPS ( UEPS 2.80% )

$8.19

28%

Nuance Communications ( NUAN -0.64% )

$13.52

17%

Fortinet ( FTNT 8.47% )

$17.10

13%

OraSure ( OSUR 0.34% )

$6.15

12%

Renren ( RENN 3.80% )

$2.98

11%

Source: Barron's.

Let's start with Net 1 UEPS. The shares tumbled later in the week, after the South African Constitutional Court struck down an appeals-court decision, invalidating a contract that it had secured with the South African Social Security Agency. The appellate court expects to submit a remedy early next year. 

The market didn't want to hear what Nuance Communications was saying. The speech-recognition specialist offered up guidance for the new quarter calling for a sequential dip in revenue on an even steeper drop in profitability. Analysts weren't expecting that. 

Fortinet fell after its CFO stepped down. Despite claiming he was leaving for personal reasons, the market doesn't like uncertainty. It also doesn't help that his term was so short. Ahmed Rubaie was appointed as CFO back in April. 

OraSure slipped after a customer had a setback. The maker of oral fluid diagnostic and collection devices revealed that its customer received a letter form the FDA, suggesting that it refrain from marketing its service in this country. OraSure is still sticking to its earlier revenue guidance. The customer accounts for less than 5% of OraSure's business.

Finally we have Renren. The Chinese social-networking website operator tumbled after offering up horrendous guidance. Renren now sees revenue falling 36% to 41% in the current quarter. That's brutal. The only saving grace is that the cash-rich Renren isn't trading for much more than its cash and investments that now translates into roughly $2.80 per American depositary share.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis – even one of our own – helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Stocks Mentioned

Fortinet, Inc. Stock Quote
Fortinet, Inc.
FTNT
$316.79 (8.47%) $24.75
Renren Inc. Stock Quote
Renren Inc.
RENN
$26.52 (3.80%) $0.97
OraSure Technologies, Inc. Stock Quote
OraSure Technologies, Inc.
OSUR
$8.97 (0.34%) $0.03
Nuance Communications, Inc. Stock Quote
Nuance Communications, Inc.
NUAN
$54.73 (-0.64%) $0.35
Net 1 UEPS Technologies, Inc. Stock Quote
Net 1 UEPS Technologies, Inc.
UEPS
$4.49 (2.80%) $0.12

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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