Family Dollar Stores, Inc. (FDO) drops about 7% today after the company reported its 10Q for fiscal first-quarter 2012. According to WSJ, Family Dollar’s earnings rose 8.1% as the discount retailer's same-store sales improved due to higher traffic and customer transaction values. However, its revenue missed analyst expectations.FDO closed on Thursday at $57.96 and is trading at $53.87 at 11:44AM EST on Friday, losing 7.06% or $4.09. Several hedge funds may suffer big losses due this price decline: 1. Pershing Square - Bill Ackman: loses $46.58 million 2. Trian Partners - Nelson Peltz: loses $29.57 million 3. Scout Capital Management - James Crichton and Adam Weiss: loses $14.43 million 4. Renaissance Technologies - Jim Simons: loses $10.36 million 5. Paulson & Co - John Paulson: loses $10.13 million 6. Pennant Capital Management - Alan Fournier: loses $10.07 million 7. Navellier & Associates - Louis Navellier: loses $4.21 million 8. D. E. Shaw - David E. Shaw: loses $4.08 million 9. Glenview Capital - Larry Robbins: loses $3.39 million 10. Sandell Asset Management - Tom Sandell: loses $2.53 million DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in FDO since the end of September. We did not take into account their option positions.