Wednesday, June 23, 2010

Yesterday Big Losers (WAG, PCX, GPS)

Walgreen Company (NYSE:WAG) dropped 5.64% to $28.44. The company will likely report third-quarter earnings of 59 cents a share, according to analysts. The Company’s drugstores are engaged in the retail sale of prescription and non-prescription drugs and general merchandise. General merchandise includes, among other things, household items, personal care, convenience foods, beauty care, photofinishing, candy, and seasonal items.
Patriot Coal Corporation (NYSE:PCX) lost 13.64% to $13.99 on 10.94 million shares. The company reported today that its operating subsidiary, Eastern Associated Coal, LLC, has terminated mining operations at its Harris No. 1 mine near Wharton, West Virginia as a result of sudden adverse geologic conditions in the primary conveyor belt and travel entries of the mine.
The Gap Inc. (NYSE:GPS) decreased 0.96% to $20.74 on 3.84 million shares. The company announced it added Katherine Tsang to its board of directors. Tsang, who is based in Hong Kong, is the 11th member of the board. Her appointment fits with Gap’s plans to expand business in China.

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