What Is Going On With These 4 Plunging Stocks?

HeartWare International Inc (NASDAQ:HTWR) is off by almost one-third in trading today after the company issued a press release stating that its preliminary revenue for the fourth quarter was approximately $68 million and that it might have to continue delaying regulatory filings for its next-generation ventricular assist device, MVAD, due to the need to optimize its current process. In evaluating the MVAD System, HeartWare International Inc (NASDAQ:HTWR) said the following:

“The company has detected certain software algorithms, which appear to increase the potential for pump thrombus. In parallel, the company is evaluating various aspects of the system design to determine whether additional changes could be made to improve performance. Should design changes be identified that could enhance outcomes, initiation of a new trial would likely be required. The company expects that these efforts may take several months to complete, and the timetable for regulatory filings and restarting clinical implants cannot be precisely projected at this time.”

21 elite funds in our database held 23.9% of HeartWare shares as of September 30.

In other news, GameStop Corp. (NYSE:GME) shares are off by 5.5% due to a disappointing guidance update from the video game and hobby retailer. Because of slower-than-expected holiday sales, GameStop lowered the top end of its fourth quarter EPS estimate to $2.25 from the previous $2.32. The company did however raise the low end of its EPS guidance to $2.19 from the previous $2.12. Total global sales for the company during the holiday period inched up by 1.8% year-over-year to $2.99 billion, while comparable store sales rose by 4.4% during the same time period. The number of smart money funds long GameStop Corp. (NYSE:GME) rose by five to 31 during the latest 13F reporting period.

Disclosure: None