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There were many stocks that tumbled on Monday with the S&P 500 down nearly 2%, below are 5 of the notable losers.

Stillwater Mining (NYSE:SWC) tumbled 22% after the company announced an acquisition that disappointed investors. Stillwater Mining and Peregrine Metals announced that they have entered into a definitive agreement pursuant to which Stillwater will acquire all of the outstanding shares of Peregrine. The total purchase price is US$487.1 million, and assumes the exercise of all outstanding Peregrine options and warrants resulting in a CDN$34.4 million (US$35.7 million) contribution to treasury, and implying a net equity value of US$451.4 million.

The company also announced today Q2 product guidance. Stillwater said that Q2 mined production of palladium and platinum totaled 142,700 ounces, an increase of 26.7% over the 112,600 ounces produced during the same period last year and 8.8% more than the 131,200 ounces produced during the first quarter of 2011. Mined production of palladium and platinum exceeded original estimates for the first two quarters of 2011. Based on updated estimates, the company is increasing its 2011 annual forecast for mined palladium and platinum production to 515,000 ounces from its original guidance of 500,000 ounces. The company further noted that it expects Q2 revenues of $222.6 million, including $139.7 million from sales of mined production and $82.9 million from recycling. The analyst forecast was for $201.5 million.

Fabrinet (NYSE:FN) fell 7% after one of its customers terminated a supply agreement. In its 8-K filing, Oclaro (NASDAQ:OCLR) delivered a notice of termination to Fabrinet under the Volume Supply Agreement, dated May 6, 2004, between the company and Fabrinet. Oclaro said that it is currently in discussions with multiple third party manufacturers, including Fabrinet, for one or more of such third party manufacturers to manufacture for the company those products that are currently being manufactured by Fabrinet under the supply agreement.

Endeavour Silver (NYSE:EXK) closed 6% lower after its Q2 production results failed to live up to investors' expectations. The company said that silver production was up 3% to 850,476 ounces and gold production was up 8% to 4,831 oz compared to the same period of last year. Revenues were up 85% for the quarter to $36.4 million thanks to both the higher metal production and higher realized metal prices. The company added that production should start rising once the Guanajuato plant expansion from 600 tonnes per day (tpd) to 1,000 tpd is completed in Q3. Endeavour Silver further said that it is installing an additional 1,000 tpd circuit at the plant, to be commissioned later this quarter, at which time the current 600 tpd circuit will be idled, leaving the door open for further production expansion to 1,600 tpd once its reserves and resources have also grown.

Sanofi-Aventis (NYSE:SNY) fell 4% after releasing Phase 3 clinical trial results and selling one of its businesses. First, the company announced positive top-line results from CARE-MS I, the first of two randomized, Phase 3 clinical trials comparing the investigational drug alemtuzumab to the approved multiple sclerosis therapy Rebif (high dose subcutaneous interferon beta-1a) in patients with relapsing-remitting multiple sclerosis. In the CARE-MS I trial, 2 annual cycles of alemtuzumab treatment resulted in a 55% reduction in relapse rate compared to Rebif over the two years of the study (p<0.0001), hence satisfying the first primary endpoint, and therefore meeting the predefined protocol criteria for declaring the study a success. Statistical significance was not achieved for the second primary endpoint, time to six month sustained accumulation of disability, as compared to Rebif. At the two year time point, 8% of alemtuzumab treated patients had a sustained increase in their Expanded Disability Status Scale score (or worsening) as compared to 11% of those who received Rebif (Hazard Ratio=0.70, p=0.22).

Sanofi also announced the strategic divestiture of its dermatology business, Dermik, to Valeant Pharmaceuticals (NYSE:VRX) for a total cash consideration of $425 million.

Horsehead Holding (NASDAQ:ZINC) fell 6% after it said it will take charges related to hedging. The company said that it expects to record non-cash mark-to-market charges for the quarter ended June 30, 2011 related to the recently announced hedging transactions for 2012 and 2013. The mark-to-market adjustment is estimated to be $10 million, after taxes, or $0.23 per diluted share, resulting primarily from a higher zinc price on June 30 compared to the average market price during the period that the hedges were put in place. Mark-to-market adjustments, such as this one, which were made at zinc prices which fall within the range of the “cashless collar” that the company announced previously will net to zero over the term of the hedges if held until maturity.

Source: 5 Stocks Disappointing Investors on Monday