Why Are Investors Fleeing From These 5 Stocks Today?

Westmoreland Coal Company (NASDAQ:WLB) is down by 28.73% today, pushing its slide to 73.71% this year as coal stocks seem unable to hit the floor. Westmoreland Coal Company (NASDAQ:WLB) posted a head-turning loss of $2.95 per share, vastly worse than the $0.38 per share loss that analysts were anticipating, while revenue was $40 million short of expectations at $348 million. The acquisition of Buckingham Coal and Oxford Resource Partners this year added a hefty debt burden to Westmoreland Coal Company (NASDAQ:WLB) that seems ill-advised in hindsight, as the company paid $5.6 million in interest payments during the quarter. Despite that, CEO Keith E. Alessi, who will step down at the end of the year, said that Westmoreland Coal Company (NASDAQ:WLB) was continuing to consider acquisitions, several of which it passed up on during the quarter. Hedge funds in our database owned 35.90% of the coal company’s shares as of June 30, showing a good deal of bullishness for the stock at its depressed price.

Finally, Qlik Technologies Inc (NASDAQ:QLIK) is down by 10.50% today, the second such plunge for the stock this month after it lost over 7% on October 13 following the announcement of its Qlik Proactive Support service. Today’s fall comes on the back of a third quarter revenue miss for the data visualization software company, which reported revenue of $141.2 million. However, Qlik Technologies Inc (NASDAQ:QLIK) took a big hit from foreign exchange fluctuations, as the firm currently does a lot of business in Europe. More worrying to investors than the revenue seems to be the mild growth in licence revenue, which was up by just 3% year-over-year, though that too was impacted by currency fluctuations, having increased by 15% year-over-year on a constant currency basis. Given the currency impediment, the sell-off of Qlik Technologies Inc (NASDAQ:QLIK) today appears to be an overreaction by the market.

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