Biggest Losers In Midday Trading: SQNS, HDY, SGI, AEN, GMCR

Stocks continue to head lower in early trading as Europe dominates the minds of traders. OPEC also announced it has agreed to limit oil output. The organization agreed to a new supply target of 30 million barrels daily. As of 11:22 am EST the Dow is down 116 points, the Nadsaq is down 44 points and the S&P is down 14 points.

Let’s take a look at a few stocks following the market down in midday trading.

Sequans Communications (NYSE:SQNS) is down 29.58% at $2.50 this morning. SQNS has traded 647 thousand shares in midday trading and averages 689 thousand shares a day. An update to the company’s fourth quarter expectations sent the stock lower today. The company’s largest customer reduced shipments in the fourth quarter. Sequans has a market cap for 85.72 million.

Hyperdynamics Corporation (NYSE:HDY) is down 20.52% today at $2.13. HDY has traded 4.4 million shares so far today, twice its daily average. HDY has been falling all week and is down more than $0.80 since Monday. Hyperdynamics has a market cap of 341.83 million.

Silicon Graphics International Corp. (NASDAQ:SGI) is down 15.68% today at $11.83. SGI has traded 2.3 million shares in midday trading, 4 times its daily average. SGI is down today after the company’s CEO resigned effective January 1, 2012. The company has a market cap of 381.04 million.

Adeona Pharmaceuticals, Inc. (AMEX:AEN) is down 7.86% at $1.29. AEN has traded 400 thousand shares so far today, nearly twice its daily average volume. AEN has recovered slightly from its intraday low of $1.16. The company has a current market cap of 34.03 million.

Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) is down 11.39% at $44.26. GMCR is falling today after Stifel Nicolaus & Co. said demand is weakening for the company’s Keurig single-serve coffee machines. GMCR is down on heavy volume with 8 million shares traded so far today. The stock trades 8.1 million shares a day on average. Green Mountain Coffee has a current market cap of 6.79 billion.

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Danny is the old hat at Active Investor. One of the been around the block a few times traders, his main focus is on overall market conditions. Be it some new merger talk or Washington being Washington, you can expect Danny will be on top of it.
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