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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