Xyratex Ltd. (NASDAQ:XRTX) is down 14.83% this morning at $7.41. XRTX has traded 1.1 million shares so far today, 4 times its daily average volume. Xyratex missed third quarter estimates as revenue falls 24%. The company also forecasted a net loss for the current quarter. The company has a market cap of 205.43 million.

Leap Wireless International Inc. (NASDAQ:LEAP) is down 15.81% today at $6.39. LEAP has traded 10.09 million shares already this morning, about 5 times its normal volume. LEAP was downgraded to neutral from overweight by J.P. Morgan. J.P. Morgan analysts downplayed the idea that Sprint would buy Leap saying it is “unattractive” for Sprint. The company has a market cap of 507.04 million. [Read more...]