Shares of Aeropostale plummeted after Morgan Stanley issued a warning about the teen retailer. The firm’s analyst questioned the company’s ability to stay in business, even through next year, since it has been burning cash amid mounting losses. Late yesterday the retailer reported its sixth straight quarterly loss and issued a weak outlook. The stock fell almost 25 percent to $3.41.
Shares of Aruba Networks also got hammered in today’s session. The computer networking reported earnings that were in line with estimates and sale topped consensus. But analysts at J.P. Morgan said its gross margins were below its estimates and the firm reiterated its “underweight” rating on the stock. Aruba Networks fell almost 11 percent to $17.89.
Shares of PTC Therapeutics shot up after European regulators recommended the conditional marketing approval of its muscular dystrophy drug. That allows patients with the disease to get the treatment. The stock surged about 31 percent to $20.03.
Google & Skybox Imaging
Google is reportedly nearing a deal to buy Skybox Imaging for $1 billion. Skybox specializes in recording very detailed landscape pictures and videos. Shares of Google were up more than one percent to $552.70.