Biggest Losers Today: Gamestop, Tessera Technologies and Helios & Matheson (GME, TSRA,HMNA)

Falling hard today are shares of GameStop (NYSE:GME), Tessera Technologies, Inc. (NASDAQ:TSRA), and Helios & Matheson North America Inc (NASDAQ:HMNA) with the biggest loser award going to GME down 15%.

GameStop (GME) is getting killed today as shares are down 15% on more than 5X the normal average.  The analysts have just begun to rip into the company as Janney Montgomery Scott cut its price target on GME to $22 per share.

(StreetInsider.com) Janney analyst says, "We remain concerned about: 1) casual gaming weakness (compresses the gaming cycle), 2) growing competition with major retailers, and 3) the potential use of promotions to retain market share. We also believe investor concerns over digital and other new tech threats will continue to suppress GME 's multiple until GME can leverage its strong cash flow for buyback and/or strategic digital investments. Based on lower numbers and guidance, we believe GME will now trade at 8x our $2.79 CY11 estimate, leading us to derive a $22 fair value."

Gamestop is being kicked to the curb after the company cut its Q4 profit forecast, they now expect to post earnings of $1.25 to $1.29 a share, well below analysts' average view of $1.57 a share, as reported by Thomson Reuters. That forecast is also below its own previous expectation of fourth-quarter earnings per share of $1.47 to $1.65. Same-store sales in the quarter are expected to fall 8.5% to 9.5%.

Tessera Technologies (TSRA) shares are taking a dive thanks to the company's Q4 preliminary total revenues of around $56 million versus the previously expected fourth quarter revenue guidance of $60 million to $62 million.  TSRA shares have lost $3.56 and are now in the $19 range.

Volume of Tessera shares has already reached 3.6 million compared to the daily average of 829,000 shares traded.

Helios & Matheson North America Inc (HMNA) shares are now under one dollar, trading around 97 Cents.  HMNA is down 11% going into the noon hour and the stock has traded between 1 Penny and $2.18 over the past 52-weeks.  Can you say penny stock?

Helios & Matheson North America Inc. (Helios & Matheson) provides a range of consulting and software solutions, through an integrated suite of market driven service lines in the areas of Application Value Management, Application Development and Integration, Independent Validation, Infrastructure, Information Management and Information Technology (IT) Advisory Services to companies and other organizations

Google Finance links to today's biggest losers: GME, TSA, HMNA