Morning Market Losers

Gigamon GIMO slipped 33.11% to $12.16 after the company warned that second-quarter revenue will fail to meet expectations. Goldman Sachs downgraded Gigamon from Buy to Neutral and lowered the target price from $29 to $14. The Container Store Group TCS shares declined 13.15% to $23.51 after the company reported a wider-than-expected fiscal first-quarter loss and issued a downbeat forecast for full year 2014. Portugal Telecom, SGPS S.A. PT shares fell 6.40% to $2.78. Salix Pharmaceuticals SLXP tumbled 4.83% to $130.64 after the company agreed to merge with a unit of Cosmo Pharmaceuticals SpA. Silicon Image SIMG shares slipped 3.81% to $4.80 after the company lowered its Q2 revenue forecast. Marvell Technology Group MRVL shares dipped 2.19% to $14.32 after Oppenheimer downgraded the stock from Market Perform to Underperform.