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Omar Venerio
Omar Venerio
Articles (915) 

The Biggest Drop in More Than a Year

3 stocks down on Tuesday

September 12, 2017 | About:

In Tuesday trading, McDonald's Corp. (NYSE:MCD) shares traded lower by more than 3% after data from research firm M Science that concluded that sales projections are below Wall Street’s estimates.

M Science focuses on data tracking. It evaluated purchasing, traffic and regional performance trends for McDonald’s.

In other news, Sage Therapeutics Inc.’s (NASDAQ:SAGE) stock lost more than 14%. The company develops medicines for the treatment of life-altering central nervous system disorders. On Tuesday Sage reported the results from its Phase 3 STATUS Trial of brexanolone (SAGE-547) to treat super-refractory status epilepticus (SRSE). The study did not meet its primary endpoint.

CEO Jeff Jonas said, “I’m proud of the Sage team for the significant progress they have made in improving our understanding of how to best treat these critically ill patients.”

He emphasized that “SRSE is a complicated condition that is poorly understood, and I want to thank the patients, their families and the investigators who participated in the STATUS Trial. Although we did not meet the primary endpoint, this first-ever trial in a highly variable and complex patient population confirms that research in a critical care unit is possible and deepens our understanding of GABA mechanisms and their effect on brain circuitry. As we continue examining data from the STATUS Trial in the coming weeks, I’m hopeful this information will inform current treatments and aid in the development of future treatments for patients with SRSE.”

The Cooper Companies Inc. (NYSE:COO) shares lost more than 2% with apparently no news on the radar. The company reported better-than-expected earnings for its third quarter. EPS of $2.64 beat expectations by 6 cents and revenue of $556 million beat by $3.66 million and was up 8.0% year over year.

CEO Robert S. Weiss said that it was a good quarter with market share gains, improved profitability and strong cash generation. “I'm very happy with the continuing progress in both our businesses and continue to see a bright future ahead.”

Disclosure: The author holds no position in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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