Noble down 24.3% after 3Q loss

Shares of commodities firm Noble Group are down 24.3% at $1.215 after the company posted its first quarterly loss in more than a decade, hurt by turbulence in commodity prices.

At 9 a.m., Noble shares were trading at $1.24. Noble also announced on Wednesday that its chief executive Ricardo Leiman had quit for personal reasons, and chairman and founder Richard Elman will run the company until a successor is named.

UBS Investment Research said in a report that it believed analysts will embark on a series of earnings and price target downgrades on the back of the disappointing results.