What You Need to Know About These 4 Stocks Deep in the Red Today

Lower-than-expected guidance is also negatively affecting Glaukos Corp (NYSE:GKOS) today, as the shares of the glaucoma treatment company are off by more than 11% after it reported preliminary fourth-quarter revenue of $20.1 million and full-year 2015 revenue of $71.5 million. The company expects revenue for 2016 to come in at $90 million-to-$93 million. Glaukos will release its full fourth-quarter results in late February. Within our system, six elite funds owned over 10% of Glaukos Corp (NYSE:GKOS)’s float at the end of September. That’s down from nine elite funds long Glaukos at the end of June.

The monetary pain for shareholders of Sunedison Inc (NYSE:SUNE) continues, as shares of the renewable energy developer are off by another 7.12% in trading, and that after briefly gaining about 7% earlier in the morning. Although Sunedison raised some badly needed liquidity last week at the expense of hefty dilution, some analysts, including Axiom Capital’s Gordon Johnson, aren’t entirely convinced that the company’s liquidity problems are over. Making matters worse is the news that David Tepper‘s Appaloosa Management LP is suing to prevent SunEdison’s yieldco, TerraForm Power Inc (NASDAQ:TERP) from buying some of Vivint Solar Inc (NYSE:VSLR)’s assets. Tepper thinks TerraForm Power would be overpaying and destroying shareholder value if the deal were to close.

Of the 730 elite funds that we track, 10% of them owned Sunedison Inc (NYSE:SUNE) at the end of the third quarter, a decline of 22% from the previous quarter.

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