Here’s Why These Five Stocks Are in the Red Today: Clovis Oncology, Tyson Foods, Lloyds Banking Group, and More

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Although the broader markets are only down moderately after today’s rather disappointing jobs report, shares of five companies Clovis Oncology Inc (NASDAQ:CLVS), eBay Inc (NASDAQ:EBAY), Tyson Foods, Inc. (NYSE:TSN), Acacia Communications, Inc. (NASDAQ:ACIA), and Lloyds Banking Group PLC (ADR) (NYSE:LYG), are rather deep in the red.

In this article, we will find out why traders have sent each stock lower today. In addition, we are going to take a look what the investors from our database think about the companies in question.

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Clovis Oncology Inc (NASDAQ:CLVS) shares are off by 15% after the company announced efficacy and safety data from NDA population for Rucaparib at an oral presentation at the 2016 ESMO Congress in Denmark. Rucaparib is currently under review by the FDA for treatment of certain types of ovarian cancer. Shares are down because Rucaparib response rates in platinum refractory and platinum resistant and patients of 0% and 25% (according to the oral presentation ) are lower than some trader’s estimates. Shares have rebounded somewhat from their session lows due to various analysts on the Street defending the stock, with some saying that the odds of FDA approval are relatively unchanged in their opinion. Mitchell Blutt‘s Consonance Capital Management established a new stake of over 2.93 million shares in Clovis Oncology Inc (NASDAQ:CLVS) during the second quarter.

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eBay Inc (NASDAQ:EBAY) shares are down by 1.6% after Channeladvisor posted new data that showed the e-commerce company’s same-store sales growth slowing sequentially. For the month of September, ChannelAdvisor estimates that eBay’s same store sales clocked in at 4%, a slowdown from August’s 5.9%, and well below the broader e-commerce growth rate of around 15%. The number of funds from our database with holdings in eBay Inc (NASDAQ:EBAY) inched up by one quarter-over-quarter to 58 at the end of June.

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On the next page, we find out why Tyson Foods, Acacia Communications, and Lloyds Banking Group PLC are in the red.

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