Boston, MA 10/13/2014 (wallstreetpr) – Fairchild Semiconductor Intl Inc (NASDAQ:FCS) stock joined a select few other stocks which experienced the largest percentage decrease in their share price during 10th October trading. The stock fell nearly 12.4 percent by end of the day. The continued lack of investor confidence in the stock was triggered in the last week of September when the firm disclosed that it has secured additional credit linen worth $400 million from its lenders. The new credit agreement runs for a five year period. It also had announced that it has retired old debt adding up to $200 million from the proceeds of the current loan agreement.
Globalstar, Inc. (NYSEMKT:GSAT) plummeted by nearly 14.2 percent during trading on 10th October. This came after the firm released a presentation it had shared with its investor community on 9th October. The presentation listed out facts, which refuted the claims made by Kerrisdale Capital with regards to its business model and viability. Company Chief Executive Officer and Chairman Jay Monroe expressed confidence that the “value proposition and competitive advantage” would argue well for the company in the long run. The press note went on to point out the intrinsic strength of the “balance sheet and liquidity position” of the company. This communication outreach is being seen as a reassurance drive designed to retain investor confidence in the stock post the Kerrisdale Capital broadside against the firm last week.
Microchip Technology Inc. (NASDAQ:MCHP) stock continued to slide on 10th October, a day after the chip maker’s Chairman of the Board, President, Chief Executive Officer Steve Sanghi sounded the alarm bell about the general weakness in demand for chips from customers as varied as automakers to network equipment manufactures. On Friday, the company stock slid down by nearly 12.26 percent. The CEO also indicated that the lack of demand is pretty broad based across regions and his firm has witnessed the tightening of the markets across, Asia, Middle East and Europe.
