Shares of Apple Inc. (NASDAQ:AAPL) slumped as much as 3% on Tuesday, a day after the tech giant reported lower-than-expected gross margins and disappointing iPad sales.
Bluelinx Holdings Inc. (NYSE: BXC) sank more than 19% after Cerberus ABP Investor LLC, an affiliate of Cerberus Capital Management, L.P., and owner of a 55.37% majority stake in BlueLinx Holdings announced that CAI and Cerberus' cash tender offer of $4.00 per share for all of the outstanding publicly held shares of BlueLinx not owned by CAI expired at midnight, New York City time, on Monday, October 18, 2010, without acceptance of the tendered shares, due to the 90% Ccondition not being satisfied. It had been a condition to the Amended Offer that, as a result of the Amended Offer, CAI would own at least 90% of the issued and outstanding shares of the company.
Shares of New Gold, Inc. (AMEX: NGD) plunged as much as 8% after UBS lowered its rating on the company to Neutral from Buy.
DJSP Enterprises, Inc. (NASDAQ: DJSP) tumbled more than 16% after it announced the voluntary resignations of Richard Powers, as President and Chief Operating Officer, Kumar Gursahaney as Executive Vice President and Chief Financial Officer and Howard S. Burnston, as Vice President, General Counsel and Secretary, each of whom joined the Company in 2010.
Shares of McClatchy Co. (NYSE: MNI) slid as much as after the company said that its third-quarter profit dropped 49% as both advertising and circulation revenues dropped.
Disclosure: Author doesn't own any of the stocks discussed here.