PTC Therapeutics, Opus Bank, Pearson, and More: What Is Going on With These Falling Stocks?

Skypeople Fruit Juice Inc (NASDAQ:SPU) shares are almost 20% in the red after the company disclosed in an SEC filing that it had received a delisting determination letter from the NASDAQ notifying SkyPeople that the company’s common stock is subject to delisting due to the company not filing its quarterly reports and annual report on time. SkyPeople intends to request a hearing with the NASDAQ to present its plan to regain compliance, which will automatically stay the delisting for 15 calendar days from the deadline to request a hearing, which is October 19. Two funds tracked by Insider Monkey owned $67,000 worth of Skypeople Fruit Juice Inc (NASDAQ:SPU), which accounted for 1.00% of the float on June 30. As with all nano-cap stocks, traders should do their due-diligence on both sides.

Pearson PLC (ADR) (NYSE:PSO) is off by 8% after the company announced that sales for the nine months of the year declined by 7% in underlying terms. One big reason for the shrinkage was inventory corrections by retailers in July and August. Management has noted that they have made good progress in terms of simplifying the company, having achieved an over 90% reduction in the target headcount reduction of around 4,000 full time equivalent employees. Despite the poor September top-line, management reiterated its 2016 guidance and maintained its 2018 goals. Six funds tracked by Insider Monkey were long Pearson PLC (ADR) (NYSE:PSO) at the end of June, down by three funds from the previous quarter.

Shares of Opus Bank (NASDAQ:OPB) are down by 19% in late afternoon trading after the bank announced that it expects to report a net loss of $0.05 per diluted share for the third quarter, mainly due to a $0.59 per diluted share impact from loan charge-offs. The loss is evidently worse than the Street’s estimate. Opus’ management will expound on these charge-offs, the provision for loan losses and Opus’ credit quality during a third quarter 2016 earnings conference call scheduled for October 24, 2016. A total of 13 funds from our database were long Opus Bank (NASDAQ:OPB) at the end of the second quarter, down by two funds from the previous quarter.

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