Today's Big Losers: HPQ, CHIND, JCG, IMGN
Friday, August 27, 2021 3:47 PM

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Hewlett-Packard Company (NYSE: HPQ) lost nearly 0.9% after the pc maker increased its proposal to acquire all of the outstanding shares of 3PAR, Inc. (NYSE: PAR) to $30 per share in cash, or an enterprise value of $2.0 billion. The proposal represents an 11 percent premium above the most recent price offered by rival Dell Inc. (NASDAQ: DELL) of $27 per share.

CDC Corp. (NASDAQ: CHIND) slumped more than 8% on Friday after Raymond James downgraded its rating on the company to Market Perform from Outperform. 

Shares of J. Crew Group, Inc. (NYSE: JCG) plunged more than 7% after the clothing retailer cut its forecast for the full year citing uncertainty about the economy.

ImmunoGen, Inc. (NASDAQ: IMGN) tumbled more than 38% after the drug developer announced that Genentech, a member of the Roche Group, today announced its receipt of a Refuse to File (RTF) letter from the US Food and Drug Administration for the accelerated approval of the Biologic License Application for trastuzumab-DM1, or T-DM1, submitted in July 2010. 

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

 

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