24/7 Wall St. » IAR

The 52-Week Low Club 10/3/2008 (AAPL)(YRCW)(MGM)(LVS)(OMX)(FR)(IAR)

247wallst — Fri, 03 Oct 2008 14:51:32 +0000

Idearc Inc (IAR) No major news. Off to $.78 from 52-week high of $32.52.

First Industrial Realty (FR) Cuts guidance and plunges to $18.32 from 52-week high of $42.71.

Officemax (OMX) Office supply stocks hit by bad economy. Drops to $7.04 from 52-week high of $34.64.

Las Vegas Sands (LVS) Analyst cuts price target. Sells down to $22.87 from 52-week high of $148.76.

MGM Mirage (MGM) Trouble in Macau hurts most stocks in sector. And, who has money to gamble? Dips to $20.28 from 52-week high of $100.50.

Yrc Worldwide (YRCW) Truck company borrows from credit line. Down to $7.44 from 52-week high of $28.83.

Apple (AAPL) Rumors about Jobs health. Dips to $94.85 from 52-week high of $202.96.

Douglas A. McIntyre

Posted in HI/LOW Tagged: AAPL, FR, IAR, LVS, MGM, OMX, YRCW

The 52-Week Low Club (AAI, HRZ, IAR, LEE, NTGR, PAY, UCBH, VDSI)

247wallst — Fri, 25 Apr 2008 14:41:58 +0000

Despite the recovery we have seen, many stocks are still hitting 52-week lows. Some of the names this Friday were as follows, just keep in mind that not all of these actually closed on their lows:

AirTran Holdings (NYSE: AAI) traded under the $3.13 lows ($12.65 hi, ouch) late in the day. Getting financing done at year lows…
Horizon Lines Inc. (NYSE: HRZ) down almost 20% to under the $12.38 lows from $36.55 year highs, ouch. Container shipping and logistics.
Idearc, Inc. (NYSE: IAR) actually touched its 52-week low of $3.40 down 90% from highs. Who uses Yellow Pages & White Pages any more? At least they’d make for cool flaming catapult artillery.
Lee Enterprises Inc. (NYSE: LEE) is an Iowa-based newspaper company. Farmers too busy growing corn for ethanol to read about how bad ethanol really is. 55 daily newspapers around the country, but real estate ads and advertising slowdown isn’t helping an industry already losing readers. Claims 1.6 million daily and 1.88 million Sunday total circulation. The good news is that shares recovered late in the day after hitting $7.01 (prior range $7.13 to $27.81).
Netgear Inc. (NASDAQ; NTGR) after earnings drop under estimates. $16.55 late in day under the $18.15 to $41.33 52-week range. When I bought my new computer last week with the multi-core processors I didn’t need any new networking equipment either.
Verifone (NYSE: PAY) is turning into the Boulevard of broken dreams. Mark my words, there is value here in "the business" but that means zilch, nothing, and zero as far as whether or not that stock continues to implode.
UCBH Holdings, Inc. (NASDAQ: UCBH) down 11% late in day at $6.34 as loss provisions rise and company slashes its targets; under $6.88 to $20.22 range; operates as the bank holding company for United Commercial Bank based in San Francisco with locations in 6 states and spread around Asia to facilitate international clients and trade.
Vasco Data Security (NASDAQ: VDSI) down a second day after revenues miss targets. Was $9.64 late in day, under the $10.10 to $44.25 52-week trading range. Quadruple ouch.

As a reminder, stocks that appear on the list of 52-week lows often keep hitting 52-week lows. Many problems aren’t only one-day events.

But all tongue in cheek commentary aside, many value managers actually use the 52-week lows list for stock screening candidates as value and turnaround stocks. Just because a stock is on a low, doesn’t mean value cant be found by some.

Jon C. Ogg
April 25, 2008

Jon Ogg is an editor and producer of the "10 Stocks Under $10" weekly newsletter for 247Wallst.com. He can be reached at jonogg@247wallst.com, and he does not own securities in the companies he covers.

The 52-Week Low Club (VZ)(IAR)(MS)(BX)(UBS)

247wallst — Tue, 19 Feb 2008 16:01:51 +0000

Verizon (VZ) Bad news on broadband set-top delays and price cutting for cellular service. Falls to $35.37 from 52-week high of $46.24.

Idearc (IAR) New CEO appointed after weak earnings. Not much of a first day at work. Shares drop to $7.64 from 52-week high of $38.

Morgan Stanley (MS) Fear of more write-offs. Sells down to $41.42 from 52-week high of $90.95.

Blackstone Group (BX) Market hates private equity. Shares drop to $16.05 from 52-week high of $38.

UBS (UBS) Bad day to be a bank. Moves down to $32.57 from 52-week high of $66.26.

Del Monte Foods (DLM) No news, just selling. Falls to $8.05 from 52-week high of $12.94.

Penwest Pharmaceuticals (PPCO) Generic competition trying to come into market. Drops to $2.90 from 52-week high of $15.42.

Douglas A. McIntyre

The 52-Week Low Club (ARUN)(UBS)(IAR)

247wallst — Fri, 08 Feb 2008 16:02:14 +0000

Idearc (NYSE: IAR) Sell off from bad earnings continues. Falls to $8.55 from 52-week high of $38.

R H Donnelley (NYSE: RHD) Shares downgraded. Sells off to $17.33 from 52-week high of $84.49.

Infineon Technologies (NYSE: IFX) German tech still coming down because of bad numbers. Hits low of $8.01 from 52-week high of $18.74.

UBS AG (NYSE: UBS) Tough time to be an international bank. Sells off to $36.55 from 52-week high of $66.26.

Aruba Networks (NASD: ARUN) Poor quarter takes stock down. Falls to $4.81 from 52-week high of $23.85.

UTI Worldwide (NASD: UTIW) Planning big staff cuts. Drops to $16.80 from 52-week high of $32.

Cephalon (NASD: CEPH) Biotech gets downgraded. Sells down to $58.23 from 52-week high of $84.83.

Vertex Pharmaceuticals (NASD: VRTX) No news. Falls to $17.59 from 52-week high of $41.42.

Douglas A. McIntyre

The 52-Week Low Club (NT)(GSK)(IAR)(IFX)

247wallst — Thu, 07 Feb 2008 16:04:21 +0000

Idearc (NYSE: IAR) Big earnings miss mugs shares, Down to $11.21 from 52-week high of $38.

Infineon Technologies (NYSE: IFX) German company posts weak numbers. Sells off to $7.89 from 52-week high of 18.74.

R H Donnelley (NYSE: RHD) Printing operation has rough day. Falls to $21.10 from 52-week high of $84.49.

Prudential (NYSE: PRU) Joins other financials in the basement. Drops to $69.05 from 52-week high of $103.27.

Nortel Networks (NYSE: NT) Concerns about tech catch up to enterprise telecom equipment firm. Falls off to $10.95 from 52-week high of $31.79.

GlaxoSmithKline (NYSE: GSK) Drug maker has headache. Sells off to $41.71 on earnings from 52-wek high of $59.98.

Orion Energy Systems (NASD:OESX) Brutal quarter. Drops to $6.56 from 52-week high of $22.46.

Edge Petroleum (NASD: EPEX) Company is selling some of its assets. Sells off to $4.05 from 52-week high of $15.78.

Select Comfort (NASD: SCSS) Bad quarter and downgrade. Drops to $4.94 from 2-week high of $20.17.

Douglas A. McIntyre

The 52-Week Low Club

247wallst — Wed, 28 Nov 2007 16:00:44 +0000

The Pep Boys (PBY) Cutting stores, cutting jobs. Falls to $12.01 from 52-week high of $22.49.

Idearc (IAR) CFO steps down. Drops to $17.83 from 52-week high of $38.

The New York Times Company (NYT) Analyst downgrade. Falls to $16.02 from 52-week high of $26.90.

Central Garden & Pet (CENT) Quarterly loss. Drops to $4.62 from 52-week high of $53.98.

Atherogenics (AGIX) Still falling after drug trial failure. Sells off to $.46 from 52-week high of $13.34.

Marvell Technology Group (MRVL) Foggy sales forecast. Drops to $14.50 from 52-week high of $21.85.

Douglas A. McIntyre

InfoSpace Sells Online Directory, But Is Still A Dog

247wallst — Mon, 17 Sep 2007 08:51:47 +0000

InfoSpace (INSP) is selling its online directory business to Idearc Inc (IAR) for $225 million. INSP shares are up 28% on the news to $17, but still well below their 52-week high of almost $28.

In the second quarter, INSP revenue dropped sharply to $70 million from $95 million. And, the company posted an operating loss of $33 million.

While the online business which is being sold had segment income of $16 million on revenue of $40 million, the mobile business, which INSP is keeping had a segment loss of $ 4 million on revenue of $31 million.

In other words, the better business is being sold.

Douglas A. McIntyre

InfoSpace Finally Sells, At Least Partly (INSP, IAR, GOOG)

247wallst — Mon, 17 Sep 2007 08:29:02 +0000

InfoSpace (NASDAQ:INSP) has been one of the perpetual old "internet value stocks" that circulated as a takeover stock because of the relative market cap to asset value, but the value was somewhat skewed because the company is no longer profitable and isn’t expected to be for the near future. Google (NASDAQ:GOOG) never made the company completely irrelevant, but the search functions that were available for free on Google bit into much of InfoSpace’s core operations that it led the pack in before 2002 or 2003 and that it was able to charge large premiums for.

This morning, InfoSpace (INSP) announced it is selling its Switchboard.com and other online directory assets to Idearc, Inc. (NYSE:IAR). Idearc is paying $225 million from cash and short-term borrowings. Shares of InfoSpace are up about 24% pre-market at $16.50, still in the lower-end of the $12.56 to $27.76 range over the last year.

unfortunately, InfoSpace hasn’t been profitable and analysts have been looking for losses in both 2007 and 2008. It is also expected to see declining revenues. As of June 30, the company had $197.79 million in cash and short term investments and total liabilities of $72.29 million; net tangible assets were listed as $350.89 million. Its market cap before this was listed as $439.5 million, so an an interpolated basis it would have a new market cap of $550 million.

This is part of the Board of Directors’ ongoing review of our company and the opportunities available to enhance value for shareholders. Upon completion of the transaction, InfoSpace expects to return the net proceeds from the sale to shareholders as a special cash distribution. At closing, InfoSpace’s cash position is expected to be in excess of $400 million.

Jon C. Ogg
September 17, 2007