Biggest Losers of Today’s Stock Market Panic

I’m one of those strange people who gets excited by big one day market declines.  To me, it’s a stock clearance sale. 

I have been busy today buying stocks.  I added Mothers Work (MWRK) and I accumulated shares of an actual Graham net-net for the Fat Pitch Financials Port.  I also picked up shares of an odd lot tender offer and earlier this week I sold my very profitable KBR position in the Special Situations Real Money Port.  More details will follow shortly on some of my purchases.

I wish I had a bit more energy left this evening. With a greater than 2.3% decline in the S&P 500 today, Mr. Market switched into panic mode.  The good, bad, and the ugly stocks all when down  in price.  Sale prices were slashed by 10% to 25% for some of the market’s biggest losers. Often you can find a few good companies that end up in the bargain bin.  I just started going through today’s biggest losers, so I thought I would share the list.  Let’s take a look at these stocks together:

  1. FLORIDA EAST COAST (FLA) -25.5%
  2. ADA-ES INC (ADES) -23.3%
  3. COVENANT TRANS INC (CVTI) -22.%
  4. MICREL INC (MCRL) -21.7%
  5. RIMAGE CP (RIMG) -20.2%
  6. AKAMAI TECH INC (AKAM) -18.9%
  7. ADVANCED ENERGY (AEIS) -16.7%
  8. JAMES RIVER COAL NEW (JRCC) -16.7%
  9. SONUS NETWORKS INC (SONS) -16.6%
  10. EASTERN CO (EML) -16.1%
  11. TARRAGON CORPORATION (TARR) -16.1%
  12. TRANSACTION SYS ARC (ACIW) -16.%
  13. POPE TALBOT INC (POP) -15.7%
  14. SCHWEITZER MAUDIT (SWM) -15.7%
  15. WAVECOM SA ADR (WVCM) -15.7%
  16. RIGHTNOW TECHNOLOGIE (RNOW) -15.2%
  17. PROTALIX BIOTHERAPEU (PLX) -15.1%
  18. PALOMAR MED TECH (PMTI) -15.1%
  19. IMMUNOMEDICS INC (IMMU) -14.5%
  20. MATRIA HEALTHCARE (MATR) -14.3%
  21. CHARLOTTE RUSSE HL (CHIC) -13.5%
  22. REDIFF.COM INDIA ADS (REDF) -13.4%
  23. SECURITY BANK CORP (SBKC) -13.4%
  24. CARPENTER TECH (CRS) -13.2%
  25. D & E COMMUNICATIO (DECC) -13.2%
  26. LIFE PARTNERS HLDGS (LPHI) -13.1%
  27. CABOT CP (CBT) -13.%
  28. HEARST ARGYLE TV (HTV) -12.8%
  29. WCI COMMUNITIES INC (WCI) -12.8%
  30. THOMSON ADS (TMS) -12.7%
  31. ADVANCE AMERICA INC. (AEA) -12.6%
  32. FREEDOM ACQ WTS (FRH.W) -12.5%
  33. NEWPORT CP (NEWP) -12.4%
  34. LJ INTL INC (JADE) -12.3%
  35. SUNCOM WIRELESS HOLD (TPC) -12.3%
  36. CONCEPTUS INC (CPTS) -12.3%
  37. WELLMAN INC (WLM) -12.2%
  38. ASIAINFO HLDGS INC (ASIA) -12.1%
  39. LEVEL 3 COMM INC (LVLT) -12.1%
  40. CELL THERAPEUTIC NEW (CTIC) -11.9%
  41. PARK OHIO HLDG CP (PKOH) -11.8%
  42. DOVER DOWNS GAMING (DDE) -11.8%
  43. MEXICO EQUITY INC (MXE) -11.6%
  44. URANERZ ENERGY CORP (URZ) -11.4%
  45. NIS GROUP CO LTD ADR (NIS) -11.4%
  46. WESTELL TECH CL A (WSTL) -11.3%
  47. PERINI CP (PCR) -11.3%
  48. THESTREET.COM (TSCM) -11.2%
  49. KEITHLEY INSTRUMENTS (KEI) -11.%
  50. INPHONIC INC. (INPC) -11.%
  51. SOTHEBYS (BID) -11.%
  52. SMTC CORP (SMTX) -10.9%
  53. CROSSHAIR EXPLORATIO (CXZ) -10.9%
  54. MAN SANG HLD INC NEW (MHJ) -10.8%
  55. HOUSTON AMERICN ENGY (HUSA) -10.8%
  56. JAMBA INC WARRANTS (JMBAW) -10.7%
  57. BRADLEY PHARMACTCL (BDY) -10.6%
  58. GRAPHIC PKG INTL NEW (GPK) -10.5%
  59. PRE PAID LEGAL SVCS (PPD) -10.4%
  60. MKS INSTRUMENTS IN (MKSI) -10.4%
  61. SYMYX TECHNOLOGIES (SMMX) -10.3%
  62. NATIONAL LAMPOON INC (NLN) -10.3%
  63. ALASKA AIR GROUP INC (ALK) -10.3%
  64. NAVIGANT CONSULT INC (NCI) -10.2%
  65. TELEFONICA ARG NEW (TAR) -10.1%
  66. UNITED PANAM FIN (UPFC) -10.1%

I just noticed that Navigant Consulting  (NCI) made the list.  I had that stock in the Special Situations Real Money Port until this past Monday.  I’m glad I dumped it when I did.  The only reason I owned it was for the odd lot tender offer and that came in at the low end of the range, which was below the price condition I provided to my broker when I tendered my shares.  Remind me to never provide a conditional price again.

There are a few wide moat companies on this list worth at least keeping an eye on.  Of the top of my head, those include Akamai, Rediff.com, Sotheby’s, and Pre Paid Legal. Are there a few other stocks on this list with sustainable competitive advantages?  Any bargains jump out at you?

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