Today's Big Losers: RIMM, AMGN, STRA, VITC
Monday, August 16, 2021 3:31 PM

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Research In Motion (NASDAQ: RIMM) plunged more than 5% after Goldman Sachs said that checks during the first two days of the launch suggest only modest interest in its BlackBerry Torch.  The firm said that the launch so far has been underwhelming.  The newest BlackBerry smart phone was unveiled early this month by RIM. AT&T (NYSE:T) began selling the device August 12.

Amgen Inc. (NASDAQ: AMGN) declined more than 2% after Deutsche Bank initiated coverage on the stock with a Hold rating and $57 price target. 

Shares of Strayer Education Inc. (NASDAQ: STRA) slumped more than after Department of Education reported that Friday that just 25 percent of former students of the for-profit school were repaying loans. Under the proposed Gainful Employment NPRM, certain school programs would only be fully eligible for Title IV funding if either at least 45% of their former students are repaying the principal on their federal loans.  These schools' programs would be ineligible for Title IV funding if such programs had less than 35% of their former students paying down the principal on their federal loans. However, the company said that its own calculations show a repayment rate of 55.4 percent. "The data and analysis released related to Strayer University are significantly at odds with Strayer University's own internal analysis, which we conducted in light of the guidance issued by the Department," the company said in a filing with the Securities and Exchange Commission on Monday., Inc. (NASDAQ: VITC) sank as much as 11% after it reported that it swung to a second quarter net loss of $1.42 million or $0.05, compared to net income of $3.54 million or $0.15 per share last year. Excluding adjustments, the company recorded net loss of $508 thousand or $0.02 per share, compared to a profit of $3.54 million or $0.15 per share in the prior year quarter. Revenue increased to $53.95 million from $47.28 million in the previous year. Analysts, on average, expected the company to report earnings of 7 cents per share on revenue of $56.97 million. 

Disclosure: Author doesn't own any of the stocks discussed here.



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Market news:

  • E-mails show struggle to guess size of Gulf spill Nov 25, 2021 03:06 AM

    • WASHINGTON - A review of thousands of government e-mails from last summer shows that the Obama administration struggled behind the scenes to determine just how much oil was leaking into the Gulf of Mexico from a broken BP well.
    • The e-mails, obtained by The Associated Press through a Freedom of Information request, also show how the government defended estimates of the extent of the oil spill that for months were inaccurate.
    • The e-mails hint at uncertainties in what the government knew during the summer, even as its scientists wrestled over how to measure oil leaking from a runaway well a mile under the ocean.
      • Mexico sending more troops to violent border zone Nov 25, 2021 02:15 AM

        • MEXICO CITY - Mexico's violent northeastern corner near the U.S. border will get a boost in troops and federal police as the government tries to wrest back control of an area that has become a battleground for two rival drug cartels.
        • The new mission, "Coordinated Operation Northeast," aims to reinforce government authority in Tamaulipas and Nuevo Leon - the two states under the heaviest attack since the formerly allied Gulf and Zetas gangs split.
        • The government also wants to keep the cartels from regrouping after the loss of key leaders, federal police spokesman Alejandro Poire said Wednesday.
          • Aust. deports US man convicted in wife's death Nov 25, 2021 01:52 AM

            • CANBERRA, Australia - An American man returns on Thursday to the United States where he could face prosecution for drowning his wife during their 2003 honeymoon on the Great Barrier Reef, a crime for which he has served 18 months in an Australian prison.
            • Gabe Watson, 33, was deported on a commercial flight Thursday from the southern Australian city of Melbourne to Los Angeles accompanied by two Immigration Department staff and three Queensland state police officers, Immigration Minister Chris Bowen said.
            • Australia, a stanch opponent of capital punishment, delayed his deportation until it received a pledge from the U.S. government that it would not seek the death penalty against Watson.
              • SKorea boosts security as NKorea issues warning Nov 25, 2021 01:20 AM

                • INCHEON, South Korea - South Korea's president vowed Thursday to boost troops on an island targeted by a North Korean artillery barrage, while the North stridently warned of additional attacks if the South carries out any "reckless military provocations."
                • Seoul and Washington also increased pressure on China to use its influence on ally North Korea to ease soaring tensions that erupted after an exchange of fire Tuesday that left four South Koreans dead - including two civilians.
                • The North's bombardment of a tiny South Korean island of Yeongpyeong along a disputed maritime frontier alarmed world leaders including President Barack Obama, who reaffirmed plans for joint maneuvers with Seoul involving a nuclear-powered aircraft carrier in the Yellow Sea starting Sunday.
                  • Go for turkey, not stuffing to keep the weight off Nov 25, 2021 12:44 AM

                    • LOS ANGELES - More turkey, less white bread and mashed potatoes.
                    • Just in time for holiday feasting, a large study found that diets higher in protein and lower in carbohydrates can help overweight adults who managed to drop some weight keep it off.
                    • European researchers led by Denmark's University of Copenhagen think they have a solution to break the cycle.

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