American equities declined on Monday, after the longest rally for the Standard & Poor’s 500 Index since 2004, as a decline in pending home sales outshined a growth in durable- goods orders while traders kept their eyes on earnings.
School Specialty, Inc. (NASDAQ:SCHS), LodgeNet Interactive Corp. (PINK:LNET) and Powerwave Technologies, Inc. (NASDAQ:PWAV) were three top losers on Wall Street after all applied for bankruptcy protection. [article_detail_ad_1]
Jos. A. Bank Clothiers Inc (NASDAQ:JOSB) tumbled $6.99 or 15.11% to new low after reducing outlook. The news also caused shares of The Men’s Wearhouse, Inc. (NYSE:MW) to fall 5.85%.
3D Systems Corporation (NYSE:DDD) lost 13.86% after Seeking Alpha article claimed the stock may be overvalued and the company is facing stiffer competition.
The Goldfield Corporation (NYSEAMEX:GV), James River Coal Company (NASDAQ:JRCC), Blyth, Inc. (NYSE:BTH), EXCO Resources Inc (NYSE:XCO) and Quicksilver Resources Inc (NYSE:KWK) all saw sharp declines on Monday.
Stratasys, Ltd. (NASDAQ:SSYS) decreased $8.64 or 9.92% in price, seemingly after peer ExOne set terms for its $75 million market debut.
PetSmart, Inc. (NASDAQ:PETM) fell 9.08% after Nomura turned cautious on the stock, downgrading the stock to reduce from neutral and reducing its price objective to $55 from $72.
Herbalife Ltd. (NYSE:HLF) declined 8.19% after the Federal Trade Commission unveiled a plan to shut down Fortune Hi-Tech Marketing for being a pyramid scheme.
8×8, Inc. (NASDAQ:EGHT) continued to drop after Northland Capital downgraded the stock from an outperform rating to a market perform rating.
Nam Tai Electronics, Inc. (NYSE:NTE) retreated 7.74% after results.
AK Steel Holding Corporation (NYSE:AKS) plunged 7.43% after Goldman Sachs downgraded the stock from a “neutral” rating to a “sell” and reduced it PT to $3.00 from $3.50.
Solar stocks including Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP), JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), Trina Solar Limited (ADR) (NYSE:TSL), Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE), SunPower Corporation (NASDAQ:SPWR), LDK Solar Co., Ltd (ADR) (NYSE:LDK) and First Solar, Inc. (NASDAQ:FSLR) all faced a fall after PIDA report.
Southern Copper Corp (NYSE:SCCO) turned red after BB&T Capital Mkts downgraded the stock from a “hold” rating to an “underweight” rating.
Hovnanian Enterprises, Inc. (NYSE:HOV), Power One Inc (NASDAQ:PWER), Hancock Holding Company (NASDAQ:HBHC) all lost in a range of 4-5 percent while Quicksilver Resources Inc (NYSE:KWK), Quantum Corp (NYSE:QTM) and Nu Skin Enterprises, Inc. (NYSE:NUS) each fell more than 5%.
Despite hitting new high, Netflix, Inc. (NASDAQ:NFLX) ended in red after the DVD rental and video streaming service and YouTube rolled out a new standard for getting content onto the living-room TV, including AirPlay, DLNA, Miracast and WHDi.
Molycorp Inc (NYSE:MCP) retreated 4.37% after EarningForecast.com released consensus earnings forecast report and equity research for the company.
Alpha Natural Resources, Inc. (NYSE:ANR) declined 3.47%, extending fall after Insiderslab.com released insider trading report.
United States Steel Corporation (NYSE:X) traded lower yesterday after Axiom Securities reaffirmed its “sell” rating on the stock. In other news, the company was predicted to report weaker revenues and earnings versus Q3 2012 on Tuesday.
PulteGroup, Inc. (NYSE:PHM) hit new high but failed to end in green after earnings release.
Flextronics International Ltd. (NASDAQ:FLEX) extended fall on weak guidance. UBS AG and Longbow Research both downgraded the stock to neutral ratings.
Weyerhaeuser Company (NYSE:WY) continued to decline after weak performance at Lumber Unit.
United Continental Holdings Inc (NYSE:UAL) was down after Bank of America lowered its rating from Neutral to Underperform on the stock and reduced the price target from $25.75 to $22.00 after earnings. Delta Air Lines, Inc. (NYSE:DAL) and JetBlue Airways Corporation (NASDAQ:JBLU) both were down 1.5%.
More on the flip side, Chesapeake Energy Corporation (NYSE:CHK), The AES Corporation (NYSE:AES) and Genworth Financial Inc (NYSE:GNW) dropped more than 2% while Cirrus Logic, Inc. (NASDAQ:CRUS) and NIKE, Inc. (NYSE:NKE) each retreated about 1.9%.
Turning to volume leaders, Research In Motion Limited (USA) (NASDAQ:RIMM) fell 7.75%, Sprint Nextel Corporation (NYSE:S) closed 1.42% lower, Yahoo! Inc. (NASDAQ:YHOO) edged down before higher-than-expected results after the closing bell yesterday, Advanced Micro Devices, Inc. (NYSE:AMD) decreased 1.05% and EMC Corporation (NYSE:EMC) ended the day 0.24% down.