Wednesday’s Biggest Stock Losers: MU, F, and More

by Karl Utermohlen | December 18, 2013 11:05 am

The biggest stock losers in early Wednesday trading include big names like Ford (F[1]) and Micron Technology (MU[2]). Tower Group (TWGP[3]) was hit especially hard with shares down as much as 25% in the morning.

[4]They weren’t the only big companies to post losses as a handful of others also took a nosedive today even though the broader market grew.

Take a closer look at Wednesday’s biggest stock losers.

Biggest Stock Losers

Tower Group (TWGP[3], -25%): TWGP stock took a tumble in early trading today after the insurer announced that it will cut 10% of its workforce[5] to make up for some steep third quarter losses.

Jabil Circuit (JBL[6], -21%): JBL shares fell 21% after the company said it would sell its aftermarket services business[7] for $725 million.

WPCS International (WPCS[8], -14%): WPCS stock is down 14% only a few days after enjoying a profitable month that saw its shares go up by 55%.

Gogo (GOGO[9], -10%): GOGO stock is down 10% following the company’s announcement[10] that one of its private equity sponsors has distributed all of its Gogo common stock shares to its partners.

Amtrust Financial Services (AFSI[11], -10%): Amtrust shares are down 10% but there is reason to believe that AFSI stock is set for a comeback[12].

Micron Technology (MU[2], -8%): MU stock enjoyed a month of growth before taking a hit Wednesday morning.

VeriFone Systems (PAY[13], -8%): PAY stock took a hit after the electronic payment solutions company reported a fiscal fourth-quarter loss[14].

Ford (F[1], -7%): F stock is down 7% following the carmaker’s announcement that it will release a record 23 new models worldwide in 2014[15].

Source URL: https://investorplace.com/2013/12/biggest-stock-losers-mu-f-twgp/

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