Stocks are up Tuesday, with the Dow Jones Industrial Average up 0.39%, the Nasdaq up 0.36% and the S&P 500 up 0.35%. Tuesday’s sole winner is in correction, while today’s losers include an energy company lowering its third-quarter guidance and a struggling retailer knocked from a S&P index.
These are Tuesday’s biggest winner and losers.
Biggest Winner
Shares of Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) are up 18.11% $1.37 on trading volume of 8.6 million shares. The stock is likely in correction after shares lost the vast majority of their value Monday after the company announced it threw out the results of a lung cancer study due to “major discrepancies” in the way the study was carried out. The 52-week high is $5.50.
Biggest Losers
Shares of Key Energy Services Inc. (NYSE: KEG) are down 10.61% to $7.28 on trading volume of 2.9 million shares. The company revised its third-quarter financial guidance, noting that consolidated revenue is expected to decline 4% to 5%, while operating income margins are expected to decline 250 to 350 basis points. The 52-week low is $6.52.
Shares of RadioShack Corp. (NYSE: RSH) are down 8.99% to $2.79 on trading volume of 1.5 million shares. The company is being dropped from the S&P MidCap 400 and being replaced by Lexmark International Inc. (NYSE: LXK). The 52-week low is $2.36.
Samuel Weigley
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