Thursday’s Biggest Stock Losers: SMTC, RAD and More

by Karl Utermohlen | December 19, 2013 11:12 am

RAD highlights the morning’s biggest stock losers with shares down over 8% in early trading Thursday. SMTC and CIE shares were also in the red today, both down over 9% to start off the day.

winnerslosers185 Thursday's Biggest Stock Losers: SMTC, RAD and More[1]These weren’t the only stocks that dipped as the broader market posted losses on Thursday.

Here are today’s biggest stock losers.

Biggest Stock Losers

Semtech Corporation (SMTC[2], -14%): SMTC stock is down 14% after the company lowered its outlook for the fourth-quarter[3].

Cobalt International Energy (CIE[4], -9%): CIE stock is down 9% after the company announced that it has completed its 2013 mineral resource definition drill program[5].

Rite Aid (RAD[6], -8%): The pharmaceutical giant exceeded its financial expectations[7] for the fiscal year with third-quarter earnings rising 16% on continued sales growth. However, these impressive results didn’t stop RAD stock from being one of the day’s biggest stock losers with shares down 8% in early trading Thursday.

Darden Restaurants (DRI[8], -7%): DRI shares took a tumble after the company said it is looking to boost DRI stock value for its shareholders by parting ways with Red Lobster[9].

Rosetta Resources (ROSE[10], -6%): ROSE stock is down close to 6% as analysts upgraded Rosetta Resources[11] to an “accumulate” rating.

Icici Bank (ICI[12], -5%): ICI stock is down 5% after enjoying a three-month period of growth.

Gold Fields (GFI[13], -4%): GFI continues to struggle with shares down 76% YTD after suffering a 4% dip on Thursday.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/10/winnerslosers185.jpg
  2. SMTC: http://studio-5.financialcontent.com/investplace/quote?Symbol=SMTC
  3. lowered its outlook for the fourth-quarter: http://www.rttnews.com/2241861/semtech-cuts-q4-outlook-shares-plunge.aspx?type=ern&utm_source=google&utm_campaign=sitemap
  4. CIE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CIE
  5. mineral resource definition drill program: http://www.marketwatch.com/story/global-cobalt-completes-2013-drill-program-at-the-karakul-cobalt-project-2013-12-19?reflink=MW_news_stmp
  6. RAD: http://studio-5.financialcontent.com/investplace/quote?Symbol=RAD
  7. exceeded its financial expectations: http://www.marketwatch.com/story/rite-aid-profit-up-16-on-continued-sales-growth-2013-12-19
  8. DRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=DRI
  9. parting ways with Red Lobster: http://abcnews.go.com/Business/wireStory/darden-spin-off-sell-red-lobster-21273832
  10. ROSE: http://studio-5.financialcontent.com/investplace/quote?Symbol=ROSE
  11. analysts upgraded Rosetta Resources: http://www.wkrb13.com/markets/241262/klr-group-upgrades-rosetta-resources-to-accumulate-rose/
  12. ICI: http://studio-5.financialcontent.com/investplace/quote?Symbol=ICI
  13. GFI: http://studio-5.financialcontent.com/investplace/quote?Symbol=GFI

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