Top 3 Losing Stocks: Integrated Device Technology Inc (IDTI), NewLink Genetics Corp (NLNK), And Infinera Corp. (INFN)
New York, NY – GDP INSIDER – 01/07/2014.
Integrated Device Technology Inc (NASDAQ:IDTI) in panicked following a move by Qualcomm. Inc. (NASDAQ:QCOM) to select its rival for wireless charging technology. QCOM is pushing aggressively into wireless charging. In the latest move it chose the design of On Semiconductor Corp (NASDAQ:ONNN) instead of that of Integrated Device, raising the fears that IDTI may have been abandoned.
A research note by a firm known as Dougherty & Co triggered a sell-off in the sale of Integrated Device Technology Inc (NASDAQ:IDTI). The note mentioned that the move by QCOM implied that Integrated Device had lost the wireless charging business opportunity On Semiconductor. Nonetheless, the firm further stated that IDTI could still win its way back to QCOM. However, some other analysts pointed out that the inclusion of On Semiconductor did not mean that some other vendors had been kicked out.
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NewLink Genetics Corp (NASDAQ:NLNK) will have to offer its Ebola vaccine at a lower dose following complaints from volunteers in the trial. The trial of the vaccine had been temporarily suspended following complaints of joint pain among the trial volunteers, said the University of Geneva hospital. The report that NewLink Genetics was moving to lower the dosage of its Ebola vaccine caused panic among investors leading to a sell-off in the stock.
Meanwhile, NewLink Genetics Corp (NASDAQ:NLNK) received $30 million financial backing from the U.S. Department of Health to accelerate the development of its Ebola vaccine. NewLink Genetics is collaborating with Merck & Co., Inc. (NYSE:MRK) in the development of the vaccine.
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Infinera Corp. (NASDAQ:INFN) was downgraded at Needham and had its “Conviction Buy” rating removed at Goldman Sachs Group Inc (NYSE:GS). The rating firms did not particularly cite that the company is failing in its business, but stated that the potential upside in its stock price had reduced because of the recent gains. Shares of Infinera have gone through a series of gains, rising from below $9 back in April. Needham cut Infinera Corp. (NASDAQ:INFN) to a “Hold”.
Analysts on the average expect Infinera Corp. (NASDAQ:INFN) to post 13.4% revenue growth in 2015.
Is INFN Going To Continue Selling Off Or Will Things Start Turning Around Soon? See What’s Next For INFN With A Free Trend Report
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