12 Biggest Mid-Day Losers For Thursday

Alnylam Pharmaceuticals, Inc. ALNY shares tumbled 47.1 percent to $37.17 after the company disclosed that it has decided to discontinue the Revusiran development. Leerink Swann downgrades Alnylam Pharmaceuticals from Outperform to Market Perform and lowered the price target from $107.00 to $40.00, while Barclays also downgraded the stock from Overweight to Equal-weight and lowered the price target from $85.00 to $50.00.
Inventergy Global Inc INVT dropped 32.4 percent to $0.839. Inventergy priced its 6 million share offering at $1 per share.
Twitter Inc TWTR shares fell 18.2 percent to $20.34 after Recode reported that Google GOOGL, Apple Inc. AAPL and Walt Disney Co DIS are not interested in buying the social media company.
Cato Corp CATO shares declined 13.1 percent to $28.63. Cato reported 9 percent drop in same-store sales for September while net sales fell 8 percent from $83.2 million to $76.2 million in September. As a result, the company slashed its EPS forecast from $0.13–$0.18 to $0.07–$0.11 for the third quarter.
The Medicines Company MDCO shares declined 11.7 percent to $34.00. The Medicines Company issued a progress update on its ongoing ORION-1 study of PCSK9si.
Resources Connection, Inc. RECN dropped 11.4 percent to $13.27 despite a revenue beat. While Q1 sales of $143.39 million beat estimates by $860,000, EPS of $0.15 fell $0.02 short of expectations. Also impacting on shares was the unexpected retirement of CEO Anthony Cherbak; the company cited health considerations, and said he would be replaced by Kate Duchene until a permanent CEO is found.
Buckle Inc BKE shares dropped 10 percent to $28.63. Buckle revealed 15.5 percent drop in comparable store sales while net sales fell 14.8 percent from $97.4 million to $82.9 million.
Nova Lifestyle Inc NVFY shares fell 10 percent to $3.67. Nova Lifestyle shares have climbed 80.53 percent over the past 52 weeks, while the S&P 500 index has gained 9.08 percent in the same period.
Idera Pharmaceuticals Inc IDRA shares dropped 9.4 percent to $2.37 as the company announced plans to offer $50 million shares common stock.
Summit Therapeutics PLC (ADR) SMMT shares dropped 9.1 percent to $13.04. Summit Therapeutics shares have surged 40.27 percent over the past 52 weeks, while the S&P 500 index has increased 9.08 percent in the same period.
American Express Company AXP slipped 3.6 percent to $62.06. Nomura downgraded American Express from Neutral to Reduce.
Tesla Motors Inc TSLA dropped 3.5 percent to $201.23. Goldman Sachs downgraded Tesla from Buy to Neutral and lowered the price target from $240.00 to $185.00.