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||Aug. 8||Weekly Loss|
|Allied Nevada Gold Corp. (NYSEMKT:ANV)||$3.71||37%|
|Nanosphere, Inc. (NASDAQ:NSPH)||$2.14||31%|
|Dendreon Corporation (NASDAQ:DNDN)||$3.39||26%|
|Fusion-IO, Inc. (NYSE:FIO)||$11.33||23%|
|Jamba, Inc. (NASDAQ:JMBA)||$13.71||12%|
Let’s start with Allied Nevada Gold Corp. (NYSEMKT:ANV). The gold and silver miner proved to be fool’s gold after falling woefully short of Wall Street expectations. Allied Nevada Gold Corp. (NYSEMKT:ANV) earned half as much as the market was expecting and its $59 million in revenue was a huge miss when pitted against the $81.4 million that the pros were modeling.
Allied Nevada Gold Corp. (NYSEMKT:ANV) also spooked investors by announcing the delay of a construction of a new mill until it can perform some more due diligence. At least one analyst didn’t have a problem performing the due diligence, as Cowen downgraded the stock two days after the report.
There will be blood at Nanosphere, Inc. (NASDAQ:NSPH). The molecular diagnostics company is starting to gain traction for its gram positive blood culture test, but it’s not growing as quickly as it thought it would. Nanosphere, Inc. (NASDAQ:NSPH) revised its outlook on Wednesday. It now sees no more than $11 million in revenue on 150 to 200 customer placements. Back in May it was eyeing $13 million to $15 million in revenue with as many as 250 customer placements.
Dendreon Corporation (NASDAQ:DNDN) surrendered its entire weekly drop on Friday after posting disappointing results. The biotech fell short on both ends of the income statement, as its loss of $0.45 a share on $73.3 million in revenue missed Wall Street’s targets of a deficit of $0.42 a share on $75.6 million in revenue.
However, the real bad news came in its outlook. Provenge is Dendreon Corporation (NASDAQ:DNDN)’s moneymaker, and the biotech is warning that the prostate cancer treatment won’t see year-over-year growth. Between its costly price tag and heightened competition, investors are getting cold feet ahead of the immunotherapy’s likely approval in Europe.
Fusion-IO, Inc. (NYSE:FIO) also took a hit this week. The data storage specialist posted a slight decline in revenue for its latest quarter, and adjusted earnings fell even harder. Investors were holding out for improvement on the top line.
Fusion-IO, Inc. (NYSE:FIO) is forecasting revenue to climb 20% during the fiscal year that began last month. That may come as a relief after the disappointing quarter it just had, but analysts were holding out for a 30% bounce.
Jamba, Inc. (NASDAQ:JMBA) shares were squeezed after pouring out ho-hum results. Revenue climbed just 2% in its latest quarter for the parent company of the 829-unit Jamba Juice smoothie chain. Wall Street was betting on 6% top-line growth.
Earnings were in line with expectations, but it was disappointing to see Jamba’s stores fail to thrive in a climate of warm temperatures and new menu additions. Jamba, Inc. (NASDAQ:JMBA) did stick to its store-level outlook for all of 2013, but it wasn’t enough to satisfy investors that were thirsty for more.
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 owns shares of Jamba. The Motley Fool owns shares of Dendreon.
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