Morning Market Losers

Cyan CYNI shares declined 14.29% to $2.10 after the company announced a proposed $50 million offering of convertible senior secured notes and warrants to purchase common stock. Puma Biotechnology PBYI shares slipped 13.92% to $193.69 on delay in the NDA filing for PB272. Bob Evans Farms BOBE shares dropped 9.46% to $50.51 after the company reported better-than-expected earnings for the fiscal 2015 second quarter. However, the company's revenue missed analysts' estimates. Analysts at KeyBanc downgraded Bob Evans from Hold to Underweight. Recon Technology RCON slipped 6.20% to $2.57 after the company announced a new fracking system. J. C. Penney Company JCP shares dropped 6.12% to $6.94 after analysts at Goldman Sachs downgraded the stock from Neutral to Sell. TASER International TASR shares fell 5.46% to $22.07 after JP Morgan downgraded the stock from Overweight to Neutral. Paycom Software PAYC dropped 5.22% to $26.16 after Barclays downgraded the stock from Overweight to Equal-weight. CDW CDW shares declined 3.41% to $33.22 after the company priced 15 million shares of common stock by selling stockholders at $33.28 per share.