Corio (CRIO) was down 20.3% after Goldman Sachs removed the software company from its recommended list. Goldman said that despite Corio's efforts to reduce costs, economic conditions were pressuring margins, adding it expect the stock to trade "in a range" until revenue growth returns.

The company late Tuesday reported a first-quarter loss of 39 cents a share, narrower than the previous year's loss of 90 cents.

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