Biggest Losers In Early Trading: THQI, TSLA, FRO, MNI, DEXO, HIG

Stocks continue to head lower this morning as investors are starting to feel more uncertain about anything getting done at the EU summit later this week. Economists were hoping for a large scale government bond purchasing program, but the ECB shot that down this morning. If Europe doesn’t get something concrete done in the next few days, we could see a big sell off. Each of the major indices is down more than 0.5% right now.

The overall market isn’t the only loser today. Here’s six stocks in the red in morning trading.

THQ Inc. (NASDAQ:THQI) is down 28.77% this morning at $1.04. THQI has traded 4.8 million shares so far today, more than 4 times its daily average. THQ is down today after the company lowered its revenue outlook for the third quarter by 25%. The company blames poor sales of its uDraw game tablet on the Xbox 360 and PS3. It will be also interesting to see how sales of Saints Row 3 fared. The company has a market cap of 71.12 million.

Tesla Motors, Inc. (NASDAQ:TSLA) is down 12.75% this morning at $29.81. TSLA has already traded more volume than its daily average with 1.2 million shares traded. Telsa is taking a hit today after Morgan Stanley reduced their price target by 37% to $44. Tesla has a market cap of 3.17 billion.

Frontline Ltd. (NYSE:FRO) is down 10.33% this morning at $3.30. FRO has traded 1.5 million shares so far today and trades 2.8 million shares a day on average. Frontline has been heading south since it released news of its restructuring. The company has a market cap of 255.37 million.

The McClatchy Company (NYSE:MNI) is down 11.52% at $1.69. MNI has traded 1.3 million shares so far today, already above its daily average of 906 thousand shares. MNI is dipping a little bit today after it rose from $1.20 to $1.80 yesterday. The company has a market cap of 148.34 million.

Dex One Corporation (NYSE:DEXO) is down 5.81% at $1.46 in early trading. DEXO has traded 527 thousand shares so far today and trades 1.1 million shares a day on average. DEXO has fallen nearly $0.40 a share since Monday. Dex One has a market cap of 72.84 million.

Hartford Financial Services Group Inc. (NYSE:HIG) is down 6.35% this morning at $17.52. HIG has traded 3.6 million shares this morning and trades 9 million shares a day on average. Financial stocks are following the overall market lower today as investors worry about the European debt crisis. The company has a market cap of 7.84 billion.

written by

An avid market watcher, Martin enjoys the tech arena the most with the Nasdaq being his main area of focus. A finance major, Martin is working to the goal of one day ringing the bell at the NYSE.
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