Why Four of Last Night’s Biggest Losers Are Falling Further Today

Shares of Sierra Wireless, Inc. (USA) (NASDAQ:SWIR), a provider of cellular wireless solutions, also took a hit this morning, with the company’s latest financial results coming in below analysts’ expectations. Sierra Wireless registered a 7.9% year-over-year increase in revenues to $154 million along with earnings per share of $0.23. The results, however, missed both their own forward guidance and Wall Street expectations, driving the stock 20% lower today. Because of a slowdown in the growth of its OEM solutions segment, Sierra Wireless has revised its fourth quarter projections to $148 million-to-$151 million in revenues and profits of $0.09-to-$0.11 per share.

Follow Sierra Wireless Inc (NASDAQ:SWIR)

In general, Sierra Wireless, Inc. (USA) (NASDAQ:SWIR) is not very popular among the hedge funds that we follow, with only nine of them having reported a stake in the company as of the end of June. Together they held an insignificant 2.5% of the company’s outstanding stock. In its latest 13F filing, Royce & Associates, run by Chuck Royce, reported ownership of 199,500 shares of Sierra Wireless, down by 22% over the second quarter. This was also the largest holding of the stock among the funds we track.

Another earnings report, another victim; shares of Tripadvisor Inc (NASDAQ:TRIP) have tumbled today by as much as 10% after the online provider of travel and rental services missed analysts’ estimates. The company registered a 17% increase in revenues to $415 million, lower than Wall Street estimates of $430.2 million, while earnings of $0.53 per share were just shy of expectations. Tripadvisor registered a 23% increase in costs last quarter, as it was forced to increase selling and marketing expenditure to keep up with its competitors.

Follow Tripadvisor Inc. (NASDAQ:TRIP)

At the end of the second quarter, Tripadvisor Inc (NASDAQ:TRIP) enjoyed the attention of 40 elite hedge funds, which held in aggregate roughly 10% of the company’s common stock. Ricky Sandler is bullish on this stock, with Eminence Capital having reported a 2% increase in its holding to 2.49 million shares, the largest among the funds we follow. Chase Coleman  also likes this company, having initiated a stake that amassed 1.22 million shares at the end of June.

Disclosure: None