Negative Movers: Homebuilders and Former High-Fliers Among the Hardest Hit (LEDS, CREE, FNSR, JDSU, BZH, HOV)
It’s an ugly day for the market as poor jobs numbers for June have drained all of the recent optimism from the market. Aided by negative news flow, some of the high-beta segments are being the hardest hit.
Today’s Negative tickerspy Indexes
LED Stocks (down 2.2% vs S&P 500): Thursday evening’s poor earnings from Chinese player SemiLEDs (LEDS) are putting a damper on LED stocks. Market leader Cree (CREE) continues to slide as well. Analyst Brigantine suggested that competition is rapidly getting tougher for Cree and reiterated its sell rating on the stock. Cree is also pushing the Semiconductor Packaging and Test Equipment Stocks Index lower on the day.
Homebuilder Stocks (down 1.3% vs S&P 500): The dreadful economic data is putting a damper on hopes for a housing recovery. Beazer Homes USA (BZH) and Hovnanian Enterprises (HOV) are among the worst performing.
More on this topic (What's this?)
CREE (Samurai Trader, 3/5/13)
Shares Of SemiLEDS (LEDS) Plunge Again On Earnings Miss, Poor Guidance (Green Stocks Central, 4/5/11)
This Stock Surged 125% — But Look for a Pullback (Jutia Group, 3/7/13)
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