24/7 Wall St. » RECN

52-Week Low Club (CC, DBD, FIC, GTOP, IMB, MSSR, RECN, MU, RT, STI)

247wallst — Fri, 21 Dec 2007 16:01:00 +0000

Some of these recovered off lows but here are some of the more active stocks that hit 52-week lows today:

Circuit City (NYSE: CC)… after posting wider losses and then forecasting a loss next quarter. Even losers like them, how does a retailer lose money over Christmas????
Diebold (NYSE: DBD) hit a new 52-week low on a "continuing dialog" with Office of The Chief Accountant and a D.O.J. investigation into related matters.
Fair Isaac (NYSE: FIC) people keep asking us if FIC is the next implosion in being tied to system-wide credit woes.
Genitope (NASDAQ:GTOP) hit the FUBAR button after failing to meet endpoints in PHASE III. With no revenues it’s close to biotech zombie status.
IndyMac Bancorp (NYSE:IMB) recovered but its subprime woes remain.
McCormick & Schmicks (NASDAQ:MSSR)… steakhouse sales soft in weak consumer economy. Don’t you think the private equity firms wish they could sell those steakhouses back now????
Resource Connection (NASDAQ:RECN)… too few resources? Nope, it gave employees an extra week off of paid vacation. Those employees are some lucky SOB’s for that, but shareholders "NOT SO MUCH!!!"
Micron Tech (NYSE: MU) after a piss poor earnings report. Trivia Question: Is there a worse technology business than DRAM? It’s just like trading a commodity except the prices never seem to go up!
Ruby Tuesday (NYSE:RT) after a downgrade and an earnings warning, mid-level restaurant spending is weak and they don’t offer very much special.
SunTrust (NYSE:STI) weak again. Maybe Buffett wishes he stayed away.

Jon C. Ogg
December 21, 2007

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The 52-Week Low Club

247wallst — Wed, 26 Sep 2007 16:33:39 +0000

Vonage Hldgs (VG) After losing case to Sprint (S), the company loses an appeal against Verizon (VZ). Falls to $.89 from 52-week high of $7.89.

Pulte Homes (PHM) Endless fall for home builders. Down to $13.40 from 52-week high of $35.56. Lennar (LEN), KB Home (KBH), Standard Pacific (SPF), and DR Horton (DHI) also make the list.

Resources Connection (RECN) Misses Wall St. forecasts and hit with downgrades. Falls to $21.72 from 52-week high of $36.21.

SONUS Pharmaceuticals (SNUS) Trial of one of its drugs fails. Still falling. Drops to $.59 from 52-week high of $6.32.

Douglas A. McIntyre

Thanksgiving Eats Resources Connection (RECN)

247wallst — Wed, 26 Sep 2007 08:50:11 +0000

Resources Connection (RECN) will miss its quarterly guidance because of when Thanksgiving falls this year, according to Reuters. Revenue will only hit $200 million. Wall St. wanted $216.5 from the temp professional employee company.

Profit for the quarter ended Aug. 31 rose to $11.6 million, or 23 cents per share, from $11 million, or 22 cents per share, in the year ago period. Revenue rose 18 percent to $194.1 million from $165.1 million last year The company only trades at 1.9x sales.

But five firms downgraded the shares. That includes Piper Jaffray, JMP Securities, Bear Stearns, Robert W. Baird, and Stifel Nicolaus.

Not much holiday spirit in that.

Douglas A. McIntyre