Negative Movers: Some Coffee Stocks See Profit Taking (JVA, MCHP, SOL, ESLR, ATML)

The markets are trading flat on Tuesday after the U.S. trade deficit expanded to its largest amount since 2008. The Coffee Stocks Index, which has performed well the past month is seeing what appears to be profit taking in some names today while other Indexes are being hurt by lowered earnings guidance from companies.

Today’s Negative tickerspy Indexes

Coffee Stocks (down 7.0% vs S&P 500): Shares of Coffee Holding Company (JVA) are falling more than 16% today. The move lower appears to be profit taking, the stock has risen more than 80% the past month.

Broad Based Semiconductor Stocks (down 6.0% vs S&P 500): Investors are fleeing shares of Microchip Technology (MCHP) after the company announced on Monday it was lowering its first quarter earnings per share guidance to 53 cents to 55 cents per share from 58 cents to 62 cents per share and also sees its second quarter revenue lower. Analysts have taken note and the stock has received a host of downgrades today.

Chinese Solar Stocks (down 4.0% vs S&P 500): ReneSola (SOL) is lower today after the company announced it lowered its second quarter revenue guidance to $235 million to $245 million, compared to its previously guided range of $280 million to $300 million. Also having a bad day is the Solar Stocks Index. The Index is being led lower by shares of Evergreen Solar (ESLR), which warned that common stock shareholders could lose their entire investment as the company looks to restructure its balance sheet.

Digital Semiconductor Stocks (down 3.3% vs S&P 500): Shares of Atmel (ATML) are leading the Index lower on well above average volume.

Tags: ATML, ESLR, JVA, MCHP, SOL