Northern, WI 1/3/2013 (BasicsMedia) – Taking a look at some of the some of todays downward movers we quite a variety of companies starting with Longwei Petroleum Investment Holding Ltd. (NYSE: LPH) is an energy company which engages in the storage and distribution of finished petroleum products in the People’s Republic of China. Longwei Petroleum announced today that it has raised its full-year guidance for the fiscal year ending June 30, 2013. This morning Longwei is down almost 70% on a volume of over 11 million shares traded. Longwei is now forecasting FY13 revenue to increase 30.7% year-over-year to $667.3 million, versus prior forecasts of $646.3 million. Longwei has also projected their net income and adjusted the warrant derivative liability, to grow approximately 23.0% year-over-year to $80.1 million, which is up from their prior projection of $77.6 million. The growth is primarily driven by the production at the new Huajie facility which is doing better than expected. This guidance does not account for any potential external financing for inventory, which could accelerate growth.
Mellanox Technologies Ltd. (MLNX) has sunk to its lowest level since April after the Israeli developer of data-management technology reduced its fourth- quarter revenue forecast which is based on a weaker demand. So far today the stock has dropped around 15% on a volume of over 5 million. Mellanox said yesterday that sales for the last three months of 2012 came in at $119 million to $121 million, below the October outlook of $145 million to $150 million.
Cepheid (NASDAQ:CPHD) is down about 10% today while trading over 1 million shares so far. Cepheid just received FDA clearance to market Xpert CT/NG which runs on the company’s GeneXpert Systems. Xpert CT/NG is a qualitative in vitro molecular diagnostic test for the detection and differentiation of Chlamydia trachomatis and Neisseria gonorrhoeae, which are the two most common sexually transmitted bacterial infections in the country. Cepheid is a molecular diagnostics company, which engages in developing, manufacturing, and marketing isystems for testing in the clinical market, as well as for application in legacy biothreat, industrial, and partner markets. The company’s systems enable molecular testing for organisms and genetic-based diseases by use of automation. The company offers their GeneXpert system which integrates sample preparation in addition to DNA amplification and detection; and SmartCycler system, which integrates DNA amplification and detection to allow rapid analysis of a sample. The GeneXpert system is designed for reference laboratories, hospital central laboratories, and satellite testing locations, such as emergency departments and intensive care units within hospitals and doctor offices.
Disclaimer: We have no position in any stock mentioned here