Notable Decliners: InvenSense Inc (NYSE:INVN), Ibio Inc (NYSEMKT:IBIO) And KEYW Holding Corp. (NASDAQ:KEYW)

InvenSense Inc (NYSE:INVN) was a notable decliner in pre market trading. The stock plummeted by close to 21 percent on the back of the company reporting a dismal set of quarterly numbers and also revising their forward guidance for the coming quarters. The company in a statement said that it now expects a earnings per share between $0.17- $0.21 which is way lower than the consensus estimate of $0.31. For the current quarter, the company reported an earnings per share of $0.05 as against the consensus estimate of $0.16. Analysts have turned bearish on the counter and investors are selling shares of the company in pre-market trade.

Ibio Inc (NYSEMKT:IBIO)  was another notable decliner in pre market trading today. The stock has been in a strong downtrend right from the time it was accused of making false and misleading statements for the benefit of certain shareholders. The company faces a new challenge as it is being taken to court by the Rosen Law Firm which states that the company made misleading statements which proved to be detrimental to the interest of shareholders who bought shares between Oct 13-23. The law firm is looking at a class action law suit. This news development is being seen as a huge negative.

KEYW Holding Corp. (NASDAQ:KEYW)  was another notable decliner in pre market trade today. The stock plummeted by close to 14 percent after the company reported a dismal set of quarterly results. The company reported an earnings per share loss of $0.08 whereas the street had expected the earnings per share loss to be $0.05.  The company reported total revenues of $79 million which were above the analysts estimates,  but the bottom line miss has analyst and investors concerned about the future course of direction. The company also revised its earning guidance lower which is seen as  a huge negative.

About the Author

Erica is a graduate of New York University's school of Journalism. She joined US Markets Daily as a general assignment reporter in January of 2008.

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