Today's Big Losers: FRG, DGIT, EMMS, SKH
Monday, August 30, 4:23 PM ET

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On Monday digital media firm DG FastChannel Inc. (NASDAQ:DGIT) had mixed news, and investors decided to focus on the negative. On the positive side, the company announced a 30 million dollar stock repurchase program. But in the same announcement, the company also forecast weaker-than-expected revenue for the third quarter, citing seasonality and short-term pressures from the company's transition from a wholesale to a full service business model. Shares of DG FastChannel Inc. (NASDAQ:DGIT) plummeted more than 32% in trading on Monday.

Emmis Communications Corporation (NASDAQ:EMMS) announced yet another in a string of extensions to the tender offer that would take the company private at 2 dollars and 40 cents per share in cash. CEO Jeff Smulyan was said to be continuing discussions with a group of dissenting preferred shareholders, along with the firm that would be financing the deal, Alden Global Capital. But the company warned that although discussions are continuing, it is unlikely that an agreement will be reached with either Alden or the group of holders of Preferred Stock. On the news, Emmis Communications Corporation (NASDAQ:EMMS) shares fell more than 13 percent on high volume.

And shares of Skilled Healthcare Group, Inc. (NYSE:SKH) lost more than 10% in Monday trading, after the Humboldt County Superior Court of California denied the company's motion for mistrial, and ordered it to put certain nurse staffing and safety codes in place. In July, Skilled Healthcare Group, Inc. (NYSE:SKH) had plunged to about a dollar 50 per share to trade at a market cap of a little over 60 million dollars after a California jury ruled against the company in a four year old complaint, and awarded over 670 million dollars in damages. Shares had proceeded to recover, trading above 3.50 by about mid-August. In trading on Monday, shares of Skilled Healthcare Group, Inc. (NYSE:SKH) were changing hands at about 2.50 per share, for a market cap of about 95 million.