It’s been a Friday to forget for many bullish investors as the NASDAQ index opened in the red and continues to decline in late morning trading as valuation worries and concerns about the global economy weigh on stocks of all stripes. Among today’s biggest losers are PROS Holdings, Inc. (NYSE:PRO), Bioamber Inc (NYSE:BIOA), Osiris Therapeutics, Inc. (NASDAQ:OSIR), and SemGroup Corp (NYSE:SEMG). Let’s find out why investors are selling these stocks even more than others and see what the world’s greatest investors think of each stock.
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PROS Holdings, Inc. (NYSE:PRO) is 18.5% lower after the company issued disappointing preliminary full year 2015 results. Although PROS Holdings now expects non-GAAP revenue of $171.3 million-to-$171.8 million versus the previous guidance of $170 million-to-$172 million for the full year, the company’s annual recurring revenue of $98 million for 2015 is lower than the $99 million-to-$101 million expected. PROS’ annual contract value bookings also came in lower than estimated, at $21.4 million versus the previous guidance of at least $25 million. CEO Andres Reiner stated:
“We continue to execute on our cloud-first strategy to align with the market and position PROS for long-term success. We believe the demand environment remains strong, and we are committed to transitioning to the cloud as quickly and effectively as we can. However, our aggressive approach impacted bookings in the fourth quarter. We believe the changes we are making will help improve sales execution over the coming quarters.”
PROS Holdings, Inc. (NYSE:PRO) was in five elite funds’ portfolios among those that we track at the end of September, up by one fund from the end of the previous quarter.
Bioamber Inc (NYSE:BIOA) has fallen by almost 22% today on the news that it has commenced a secondary offering in which it will sell 2.6 million shares of its common stock at a price of $5 per share. The offering is expected to close on January 22, and BioAmber will use the net proceeds of around $11.8 million for working capital and general corporate purposes. Hedge fund sentiment around Bioamber Inc (NYSE:BIOA) has been stable, with the number of elite shareholders of the stock unchanged quarter-over-quarter at nine as of September 30.
On the next page we examine why Osiris Therapeutics Inc and SemGroup Corp are getting beaten down today.