Morning Market Losers

American Apparel APP shares declined 18.41% to $0.79 after the company announced Dov Charney's special meeting request is invalid. On Saturday, American Apparel adopted a one-year stockholder rights plan. Tower Group International TWGP shares fell 18.27% to $1.66. Tower Group shares have dropped 90.25% over the past 52 weeks, while the S&P 500 index has gained 21.42% in the same period. Diversified Restaurant Holdings BAGR slipped 14.71% to $4.69. Sino-Global Shipping America SINO shares tumbled 7.62% to $2.06. On Friday, Sino Global priced 572,000 share offering at $1.76 per share. MBIA MBI tumbled 4.26% to $11.00. BTIG Research downgraded MBIA from Buy to Neutral. United States Steel X shares dropped 1.58% to $25.61. Martin Marietta Materials MLM will replace U.S. Steel in the S&P 500 index after the close of trading on July 1.