BMTomahawk, WI 3/19/2013 (Expedated) – The Tuesday morning losers are starting to take shape.

The biggest value loss today is with the company Affymax, Inc. (AFFY) which is down over 50% in morning trading. Bad news for popular biotech stock as  they have issued a drug recall. In a joint action Affymax, Inc. and Takeda Pharmaceutical Company Limited (Takeda) are working together on a voluntarily recall all lots of OMONTYS®.

There have been reports regarding some serious hypersensitivity reactions, which include anaphylaxis, which can be life-threatening or fatal. Both companies are working with the U.S. Food and Drug Administration (FDA) which is in agreement with the companies decision. The companies have also issued a letter to health care professionals indicating that no new or existing patients should receive OMONTYS.

 It has been a big day for deals and it seems a big day for big losses  as our next big slider is off over 40%. Harvest Natural Resources Inc. HNR has reported it has found accounting errors going back to 2010 which also may require it to reinstate financial statements. Harvest Natural is a oil and gas company. They have already said they expect a loss for 2012, which now will be compounded with  auditors issuing a “going concern qualification.”  This means that the company’s  viability to exist will now be in question.

 Electronic Arts, Inc. (EA) is off over 7% this morning as CEO John Riccitiello surprisingly resigned. The reasoning behind the resignation comes from a letter from Riccitiello in which he said  his move was sparked by the fact that the current quarter was underperforming expectations and that the company was falling short of the operating plan it set in place for the fiscal year.

This move comes after a series of missteps and does introduce a greater level of concern for the videogame publisher. As true with many things in life the timing is not good as the company faces a new console cycle with new versions of the PlayStation and Xbox consoles expected to hit the market later this year.

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