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||April 26||Weekly Loss|
|Dyax Corp. (NASDAQ:DYAX)||$2.69||37%|
|Whiting USA Trust (NYSE:WHX)||$6.74||16%|
|Mellanox Technologies, Ltd. (NASDAQ:MLNX)||$52.08||13%|
|Safeway Inc. (NYSE:SWY)||$23.31||12%|
|Key Energy Services, Inc. (NYSE:KEG)||$5.90||11%|
Let’s start with Dyax Corp. (NASDAQ:DYAX). The small drugmaker shed more than a third of its value after posting disappointing quarterly results. Dyax Corp. (NASDAQ:DYAX)’s revenue of $12 million fell well short of the $16 million Wall Street was expecting, and it didn’t help that its deficit was twice as large as projected. However, this is ultimately a problematic snapshot for how its flagship drug, Kalbitor, is faring in the market.
Whiting USA Trust (NYSE:WHX) slipped after a Seeking Alpha article suggested that the oil and gas royalty trust could lose half of its value. The article pegged a fair value of $3.50 on the trust units. Whiting USA Trust (NYSE:WHX) issued a press release the next day, pointing out that the New York Stock Exchange contacted the trust given the unusual market activity, but Whiting’s policy is to not comment on the activity.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) slipped after Needham & Co. downgraded it following results that actually beat Wall Street estimates. Needham, in marking down the shares from “buy” to “hold,” is concerned about Mellanox Technologies, Ltd. (NASDAQ:MLNX)’s lumpy business model and the lack of clarity. Mizuho Securities also downgraded Mellanox Technologies, Ltd. (NASDAQ:MLNX).
Safeway Inc. (NYSE:SWY) investors hit the register after the supermarket chain posted disappointing quarterly results. There wasn’t much of a bottom-line miss, and comps were at least positive, but the stock hit a four-year high ahead of the results. Expectations ran too high, and the grocer still trades nearly 30% higher in 2013.
Finally we have Key Energy Services, Inc. (NYSE:KEG) moving lower. The country’s largest onshore, rig-based well servicing contractor fell short of Wall Street’s profit targets in its latest quarter. Key Energy Services, Inc. (NYSE:KEG) had beaten analysts’ bottom-line estimates with ease in previous quarters, but it proved mortal this time, as demand weakened despite record oil production.
Ready for a bounce
If you owned some of these losers, how about following the smart money into winners?
The article 5 of Last Week’s Biggest Losers originally appeared on Fool.com and is written by Rick Munarriz.
Longtime Fool contributor Rick Munarriz and The Motley Fool have no position in any of the stocks mentioned.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.