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With stocks tumbling on Tuesday, there were plenty of losers to choose from.

Accuray (NASDAQ:ARAY) fell 10% following a proposed offering. The company announced its intention to commence an offering, subject to market and other conditions, of $75 million aggregate principal amount of convertible senior notes due 2016. Accuray intends to grant the initial purchaser of the notes an option to purchase up to an additional $11.25 million aggregate principal amount of notes. The notes are expected to be convertible under certain conditions into common stock of Accuray, cash or a combination thereof, at Accuray's election. The notes are expected to mature on August 1, 2016, unless earlier repurchased, redeemed or converted. The notes are expected to be redeemable at a redemption price of 100% of their principal amount plus accrued and unpaid interest, at Accuray's option on or after August 1, 2014, if the closing sale price of its common stock exceeds 130% of the applicable conversion price of the notes for specified periods. The interest rate, conversion rate and other terms of the notes are to be determined by negotiations between Accuray and the initial purchaser of the notes.

Patriot Coal (PCX) fell 14% after announcing disappointing Q2 results. The company reported record revenue of $632.2 million and record EBITDA of $70.2 million. Revenue and EBITDA for the year-ago quarter were $539.0 million and $40.6 million, respectively. However, during the second quarter, the company recorded an asset retirement obligation of $24.0 million for the planned treatment of certain selenium discharges at the Hobet surface mine, in connection with the submission of a remediation plan related to a previous court ruling. As a result of this charge, the company reported a net loss of $12.4 million and net loss per share of $0.14 for the 2011 second quarter.

For the year 2011, the company anticipates sales volume of 31 to 32 million tons, including metallurgical coal sales of at least 8 million tons. For the Appalachia segment, the Company expects cost per ton in the third quarter to be in the mid-$70s, declining to the low-$70s in the fourth quarter. The full-year cost is expected to average just over $70 per ton, as the met percentage increases to approximately 35% by year-end, from 30% at the beginning of 2011. For the Illinois Basin segment, Patriot expects cost per ton for the 2011 year to average $42 to $44.

AK Steel Holding (NYSE:AKS) tumbled 17% after its Q2 EPS missed analyst estimates by a wide margin. The company reported net income of $33.1 million, or $0.30 per share vs. $0.50 analyst estimate. The 2011 second quarter results include a $2.0 million, or $0.02 per diluted share, charge related to state tax law changes.

Net sales for the second quarter of 2011 were $1,791.9 million on shipments of 1,497,000 tons, compared with sales of $1,596.1 million on shipments of 1,449,400 tons for the year-ago second quarter. The company said its average selling price for the second quarter of 2011 was $1,185 per ton, a 7% increase over the $1,109 per ton in the first quarter of 2011, and about 8% higher than the $1,101 per ton reported for the second quarter of 2010.

AK Steel said it expects shipments in the third quarter of 2011 to be between 1,400,000 and 1,450,000 tons. The company anticipates that its average per-ton selling price will be about 1% lower, and that raw material costs will be higher, than it experienced for the second quarter of 2011. As a result, the company expects to generate an operating profit of approximately $15 per ton for the third quarter of 2011. This outlook excludes the financial effects of the previously reported incident concerning an electric steelmaking furnace at the Butler Works, which was damaged July 1, 2011. AK Steel carries insurance, which the company expects to cover losses related to the incident above deductible amounts. However, because of the uncertainty related to the costs incurred as a result of this incident, and the timing and amount of the ultimate insurance recovery, the company cannot accurately predict at this time the financial effect of this incident on its 2011 third quarter results.

Ultra Clean Holdings (NASDAQ:UCTT) fell 12% after its Q2 guidance was weaker than expected. Revenue for the second quarter was $133.7 million, an increase of 5.5% from the first quarter 2011, and an increase of 26.3% from the same period a year ago. Gross margin for the second quarter was 14.2%, compared with 13.9% for the first quarter 2011 and 14.0% for the second quarter a year ago.

The company recorded net income of $7.0 million, or $0.30 per share in the second quarter compared with net income of $5.8 million, or $0.25 per share in the first quarter of 2011, and net income of $5.7 million, or $0.25 per share for the second quarter of 2010.

Revenue guidance for the third quarter 2011 is $105 million to $110 million vs. analyst estimate of $133 million and earnings per share in the range of $0.14 to $0.18 vs. analyst estimate of $0.29. This projection reflects the declines in demand projected by all of its major semiconductor equipment customers for the third quarter of 2011.

Agria (NYSE:GRO) closed down 8% after receiving a notification from the NYSE about listing requirements. The company announced that it was notified by the NYSE that it is not in compliance with the NYSE continued listing standard requiring a listed security to maintain a minimum average closing price of $1.00 per share over a consecutive 30-trading-day period. The NYSE noted that the minimum average closing price is the only listing criteria the company is not in compliance with. The Company has six months from receipt of the notification to bring its ADS price and average ADS price back above $1.00.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.