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Top Losers in Late Morning Session: MGM Resorts International, GAP, THOR, HGG

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(EMAILWIRE.COM, October 13, 2010 ) New York, NY -MGM Resorts International. (NYSE:MGM) plunged 8.52% to $12.45 on about 57.78 million shares after the company said it's offering about 69 million common shares, including 27.78 million by its largest stockholder, Tracinda Corp.

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Also, the company said it expects to report a third-quarter loss of 72 cents a share, compared with a loss of $1.70 a share in the period a year ago. MGM also said it received an offer for its 50% interest in Borgata Hotel Casino & Spa, valued at roughly $250 million.

The Great Atlantic & Pacific Tea Company (NYSE:GAP) slumped 15.83% to $3.35 on over 1.85 million shares after The Wall Street Journal reported that the operator of A&P supermarkets was in talks about a potential restructuring of its balance sheet.

Over the past 52-week, the stock traded within the range of $2.50-$13. At current market price, the market capitalization of the company stands at $188.17 million. The stock went down more than 72% year-to-date.

Shares of Thoratec Corporation (NASDAQ:THOR) went down 5.79% to $33.22 on unusual volumes. On September 29, 2010, Auriga maintained a 'Buy' rating on Thoratec Corp. with a price target of $52.

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In the past one month of trading sessions, the stock went down more than 4%. Over the past 52-week, the stock traded within the range of $25.25-$47.93. At current market price, the market capitalization of the stock stands at $1.94 billion.

hhgregg, Inc. (NYSE:HGG) dropped 4.50% to $24 after analyst at Piper Jaffray downgraded the stock to Neutral from Overweight and set a price target of $23.

In the past six months of trading sessions, the stock went down more than 12%. The 52-week range of the stock is $16.47-$31.14. The stock went up more than 7% year-to-date.

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