Today's Big Losers: AAPL, BXC, NGD, DJSP, MNI
Tuesday, October 19, 2021 2:18 PM

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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.

 

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Market news:

  • Obama calls troops as he awaits White House feast Nov 25, 2021 11:23 AM

    • WASHINGTON - President Barack Obama is celebrating a quiet Thanksgiving at the White House, telephoning U.S. servicemen and women stationed around the world and dining on his favorite holiday food with family and friends.
    • The White House says Obama made calls thanking two members each from the Army, Air Force, Coast Guard, Marine Corps and Navy for their service and sacrifice.
    • He wished them and their families a happy Thanksgiving, before joining his own for the holiday.
      • Aust. deports US man convicted in wife's death Nov 25, 2021 11:10 AM

        • LOS ANGELES - A law enforcement official says an Alabama man who served 18 months in Australian for his wife's 2003 drowning death has returned to the United States, where he could face prosecution for killing her during their honeymoon on the Great Barrier Reef.
        • A watch commander for Los Angeles Police Department declined comment.
        • Law enforcement officials said Watson is being processed through customs and he's expected to be turned over to Los Angeles police.
          • Irish opposition vows to upend austerity plan Nov 25, 2021 11:08 AM

            • DUBLIN - Opposition leaders vowed Thursday to rewrite Ireland's harsh four-year austerity plan if, as expected, they oust Prime Minister Brian Cowen in early elections next year.
            • European Union and International Monetary Fund experts negotiating an estimated ?85 billion ($115 billion) bailout for Ireland have demanded that the country make binding commitments to slash its deficit - now the worst in Europe - as a condition of any aid.
            • To that end, Ireland on Wednesday unveiled a plan to cut ?15 billion ($20 billion) from its deficits through 2014, starting with a 2011 budget, which the government will present to parliament on Dec. 7.
              • Iraq's PM asked to form next government Nov 25, 2021 10:54 AM

                • BAGHDAD - Iraq's prime minister appealed to the country's political factions for unity after formally accepting on Thursday a request by the president to form the next government, part of a deal to end an eight-month deadlock over who would lead the country the next four years.
                • The long-awaited request from President Jalal Talabani sets in motion a 30-day timeline to accomplish the daunting task of finding a team that includes all of Iraq's rival factions and will oversee the country during the departure of American troops.
                • The new government is expected to include all the major factions, including the Kurds, Shiite political parties aligned with Iran and a Sunni-backed bloc that believes it should have been the one leading the next government.
                  • Obama places Thanksgiving calls to troops overseas Nov 25, 2021 10:31 AM

                    • WASHINGTON - President Barack Obama has called 10 members of the armed services stationed in Iraq and Afghanistan to wish them and their families a happy Thanksgiving.
                    • The White House says Obama thanked two each from the Army, Air Force, Coast Guard, Marine Corps and Navy for their service and sacrifice.
                    • The calls came as the president, his wife Michelle and their daughters Malia and Sasha spent the holiday at the White House.

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