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Markets do not seem to be in the mood to snap out from its previous week’s trend. While NASDAQ is marginally up, S&P and Dow are firmly in the red zone. Service sector report has also put a dampener on the market as its showed lethargic growth in October. On the up side, service sector improved its employment potential.
According to the Institute for Supply Management services index for October stood at 54.2, down from 55.1 in September. Further, Europe is also showing danger signs as it are still grappling with Greece crisis. So, let’s take a look at the biggest loser of the today’s market:
Pharmacyclics Inc. (NASDAQ:PCYC): The stock is currently trading at $51.50, down 10.23 percent from its previous close of $57.37. The company reported its fiscal first quarter results and failed to meet consensus estimates. It reported its per share earnings at $1.14, missing the estimates of $1.15. The company, however, beat revenue estimates by reporting $102.7 million in sales. The stock is trading at the Price Earnings ratio of 293.53. It has traded in the range of $10.83 and $70.48 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $49.36 and 50 days moving average price of $51.42. Pharmacyclics is involved in the business of developing and marketing small molecule drugs. The company specializes in developing treatment for immune mediated diseases and cancer. It is based out of Sunnyvale in California.
Nationstar Mortgage Holdings Inc. (NYSE:NSM): The company is involved in the business of servicing residential mortgage loans. It also provides securitization and origination services. Nationstar Mortgage Holdings stock is currently trading at $29.01, down 12.38 percent from its previous close of $33.11. The stock is trading at the Price Earnings ratio of 27.91. It has traded in the range of $13.00 and $37.20 in the past 52 weeks. The company recently lost its bid for Residential Capital’s loan servicing business. Ocwen Financial Corp. won the auction for $3 billion to became one of the largest non-bank home loan servicer. Nationstar Mortgage Holdings stock is trading below its 20 days moving average price of $29.63 and 50 days moving average price of $30.45.
Walter Investment Management Corp. (AMEX:WAC): The company completed its acquisition of Reverse Mortgage Solutions Inc. The deal is expected to be worth $120 million. Reverse Mortgage Solutions is the fourth largest reverse mortgage servicer and is based out of Texas. The deal, however, failed to cheer the market and the stock is currently trading at $41.29, down 10.49 percent from its previous close of $46.13. The stock is trading at the Beta of 0.85. It has traded in the range of $17.87 and $48.54 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $41.15 but below its 50 days moving average price of $42.33. Walter Investment Management is also scheduled to announce its third quarter numbers on November 8, 2012. The company is involved in the business of providing business services to mortgage industry. It is based out of Tampa in Florida.
Endo Health Solutions Inc. (NASDAQ:ENDP): The company stock is currently trading at $27.28, down 6.64 percent from its previous close of $29.23. The stock had opened at $29.09 and has traded in the range of $27.13 and $29.22 in the current trading session. Endo Health Solutions stock commands the beta of 1.01. The stock is down on the news of its dismal results. The company not only failed to meet estimates but also slashed its full year guidance. Endo Health Solutions reported its quarterly net income at $54 million or 45 cents per share. Its revenue fell 1 percent to $750.5 million. The company also slashed its annual revenue forecast to $3.05 billion.
Ocwen Financial Corporation (NYSE:OCN): The company recently reported its third quarter results and its earnings per share stood at $0.37 per share while its revenue stood at $232.7 million. However, the stock is trading in the red zone and is currently at $32.83, down 6.21 percent from its previous close of $35.01. The stock had opened at $34.92 and has traded in the range of $31.58 and $35.07 in the current trading session. Ocwen Financial stock commands the Price Earnings ratio of 34.02. The stock has been given Overweight rating by Piper Jaffray. It also raised the price target for the stock to $47, up from its previous target of $44.
