Morning Market Losers

xG Technology Inc XGTI tumbled 53.70 percent to $1.00 after the company announced the pricing of public offering. Christopher & Banks Corporation CBK shares fell 46.30 percent to $1.74 after the company reported preliminary Q2 results. For the second quarter, the company now expects net sales of around $94 million. Empire Resources Inc ERS shares dropped 31.83 percent to $2.42. Empire Resources reported Q2 earnings of 0.02 per share on sales of $134.5 million. Avalanche Biotechnologies Inc AAVL shares declined 18.87 percent to $11.22. Avalanche Biotechnologies reported a Q2 loss of $0.38 per share on revenue of $279 thousand and issued an update on AVA-101 program. El Pollo LoCo Holdings Inc LOCO shares dipped 16.91 percent to $15.26 after the company reported downbeat sales for the second quarter. However, the company's earnings exceeded analysts' estimates. Aspen Technology, Inc. AZPN shares dropped 14.74 percent to $35.82. Aspen Technology reported upbeat results for its fiscal fourth quarter. Reliv International, Inc RELV shares slipped 10.71 percent to $1.00. Reliv reported Q2 sales of $12.4 million and a loss of $0.07 per share. King Digital Entertainment PLC KING shares fell 10.13 percent to $13.66. King Digital reported better-than-expected earnings for the second quarter. However, its gross bookings declined 13 percent year-over-year to $529 million in the second quarter. For the current quarter, the company expected gross bookings of $460 million to $485 million. Applied Materials, Inc. AMAT slipped 2.87 percent to $16.56. Applied Materials reported in-line earnings for its fiscal third quarter, but the company's sales missed analysts' estimates. The company also issued a weak forecast for the current quarter.