Top Losers: Enphase Energy Inc (ENPH), RPM International Inc. (RPM), And Radian Group Inc (RDN)
New York, NY – GDP INSIDER – 01/08/2014.
Enphase Energy Inc (NASDAQ:ENPH)’s decline can be traced to a number of actions that have come to scare investors. An insider recently moved to reduce his exposure to the equity of the solar energy company. Jeff Loebbaka, a VP in the company recently offloaded 5,320 shares in Enphase Energy in the open market, a move that left investors wondering what was down the road for the company.
Another action that impact confidence was Goldman Sachs Group Inc (NYSE:GS)’s “Sell” rating on the stock.
Nonetheless, solar stocks are expected to have a positive rally this year. In particular, Enphase Energy Inc (NASDAQ:ENPH) is being cited for its solid position in the lucrative residential solar in the U.S.
RPM International Inc. (NYSE:RPM) fell short of the performance target that Wall Street had for it in 2Q2015, a development that didn’t impress traders. The specialty chemical products company moved to trim its 2015 full-year outlook following the lackluster 2Q performance. It posted earnings of $0.52 per share in the latest quarter, yet analysts expected earnings of $0.55 per share.
As for the top line, RPM International Inc. (NYSE:RPM) generated net sales of $1.07 billion for the latest quarter, which fell behind $1.12 billion what Wall Street expected. Nonetheless, the company improved its bottom line from the same quarter a year earlier during which it earned $0.48 per share. Revenue was flat YoY.
According to CEO, Frank Sullivan, business was good for them in the U.S. but Europe remained weak in the recently reported quarter.
Radian Group Inc (NYSE:RDN), a mortgage insurance company, took a beating based on at least two unfavorable news items. The company reported an increase in new delinquent loans last month compared with the previous one. An increase in loan non-payment could hurt the company in the long run as it bears the burden of the non-paid loans.
The other news that shocked the stock of Radian Group Inc (NYSE:RDN) was the announcement by the White House about efforts to boost home purchases. President Obama hinted at plans to reduce FHA mortgage premium with an aim of rekindling home buying. Since Radian Group competes with FHA, a cut in FHA premium would hurt its business.
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