Morning Market Losers

Ocean Power Technologies OPTT shares dropped 25.56% to $1.14. Form 8-K from Ocean Power Tech showed that Unit Victorian Wave Partners has terminated funding deed. Lorillard LO shares slipped 7.07% to $62.47 after Reynolds American RAI agreed to acquire Lorillard in a cash-and-stock transaction valued at $27.4 billion, including the assumption of net debt. StemCells STEM shares dropped 6.46% to $1.89 after the company announced a proposed $20 million offering. Michael Kors Holdings KORS shares fell 5.43% to $81.02 after falling 6.02% over the past week. Aaron's AAN shares fell 4.32% to $32.08 after the company lowered its Q2 forecast. Tuniu TOUR shares declined 2.76% to $18.29 after jumping 8.04% on Monday. Reynolds American RAI fell 2.39% to $61.67 after the company agreed to buy Lorillard.