Vonage and Cost Plus today's Biggest Losers

Just two days ago Vonage Holdings Corp. (NYSE:VG) was the rage, today shares are down 22% but still up 232% for the week. The other big loser this morning is Cost Plus, Inc. (NASDAQ:CPWM) down 20% to $2.34 after reporting a Q2 loss of $62 million.

VONAGE SLOWS DOWN
You had to expect this to happen, monday Vonage shares were trading at 50 Cents, come Friday morning shares are at $2.  The selling and profit taking is taking place after this five day move of over 232% on high volume today, already 14 million shares have passed hands as of 11:45 AM EST.  For more on Vonage's big move this week, read Vonage Shares up 449% Since Last Thursday.
 

COST PLUS
Cost Plus, a retailer of casual home furnishings and entertaining products, has reported a net loss of $20.76 million, or $0.94 per diluted share, for the second quarter of fiscal 2009, compared to a net loss of $26.64 million, or $1.21 per diluted share, for the same period of 2008.  The company has reported net sales of $183.4 million for the second quarter of fiscal 2009, a 13% decrease compared to $210.7 million for the same quarter of 2008.

Cost Plus has reported a net loss of $62.34 million, or $2.82 per diluted share, for the first six months of 2009, compared to a net loss of $58.63 million, or $2.65 per diluted share, for the corresponding period of 2008.  Year-to-date net sales were $367.6 million, a 10.9% decrease compared to $412.54 million for the first six months of 2008.

Barry Feld, president and CEO of Cost Plus, said: "Despite the continued tough retail environment and its negative impact on same store sales, we were able to control expenses and improve merchandise margin to reduce our second quarter loss from continuing operations year-over-year."

Happy Friday and today is a great day to go Cash and re-think your positions.