What is Going On With These 4 Plunging Stocks?

Qiagen NV isn’t the only company issuing disappointing earnings guidance today, as McKesson Corporation (NYSE:MCK) also lowered the high end of its fiscal year 2016 EPS guidance. For the year, McKesson Corporation (NYSE:MCK) now expects earnings per share to come in at $12.60-to-$12.90 versus its previous guidance of $12.50-to-$13.00. The company also expects 2017 adjusted earnings per diluted share to grow by 7%-to-12%. Investors were evidently expecting better results because McKesson shares are off by almost 10% in late morning trading. Despite today’s drop, hedge fund activity in McKesson has been cautiously optimistic, with the number of elite shareholders of the stock within our database rising by six to 68 during the third quarter.

Biotech shares can be very volatile, even when there is no public news, which appears to be the case with bluebird bio Inc (NASDAQ:BLUE) today, with shares down by 17%. bluebird bio Inc (NASDAQ:BLUE) is a clinical-stage company committed to developing transformative gene therapies for T cell-based immunotherapies and severe genetic diseases. It is conducting meetings with investors at the 34th Annual J.P. Morgan Healthcare Conference in San Francisco today, although at the moment it is unclear whether the company presented any negative data that might have caused the big sell-off.

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