Morning Market Losers

Oncolytics Biotech ONCY shares dropped 37.88% to $0.79 after the company reported overall and KRAS-mutated patient data from U.S. randomized Phase 2 pancreatic cancer study. Rackspace Hosting RAX shares slipped 15.05% to $33.42 after the company said it will remain independent despite "entertaining various proposals" from suitors. QLT QLTI shares fell 13.71% to $5.35 after the company issued an update on merger with Auxilium Pharmaceuticals AUXL. Retrophin RTRX declined 8.65% to $11.41 after the company reported that Marc Panoff will transition from his role as CFO. It also announced that director Jeffrey Paley has stepped down. Sony SNE dropped 6.27% to $18.98 after the company's CEO Kazuo Hirai said that the company would lower 15% of mobile unit staff in the fiscal year ending in March 2015. The company CEO also said the company is now revising mobile strategy. PDL BioPharma PDLI shares fell 3.83% to $9.28 after the company reported that its independent registered accounting firm, Ernst & Young LLP resigned effective September 11, 2014. Adobe Systems ADBE shares dropped 3.01% to $68.60 after the company issued a weak fiscal fourth-quarter forecast. Adobe reported its Q3 earnings of $0.28 per share on revenue of $1.01 billion. General Mills GIS shares fell 2.94% to $51.62 after the company reported weaker-than-expected fiscal first-quarter results.