Yesterday saw many stocks hitting 52-week lows and then a sharp recovery with a low to high swing of more than 500 DJIA points. Here are some of the stocks that hit 52-week lows today:
- Alpharma (ALO) fell over 2% to a new 52-week low.
- Advanced Energy (AEIS) continued its slide after disappointing earnings this week.
- California Micro Devices Corp. (CAMD) slid 6% and even more intraday two days after earnings.
- Digi International (DGII) fell over 10% after earnings.
- Deluxe Corp. (DLX) didn’t look so deluxe today after a near 15% drop in earnings and a "raised guidance" that was more in-line with estimates.
- eBay (EBAY) earnings guidance (and somewhat from the Meg Whitman departure) along with some late downgrades contributed to eBay’s new 52-week lows.
- iPCS (IPCS) saw another tumble today. Guess who is a Sprint reseller and guess which cellular company is under fire and announced store closures and third part closures? This looks like the Boulevard of Broken Dreams.
- Mercury Computer Systems (MRCY) was one of the biggest percentages losers with a 30+% drop after yesterday’s earnings. This manufacturer of computer and software for embedded systems might want to change their name to Mercy Systems.
- MTS Systems (MTSC) saw a sharp drop of roughly 15% after its earnings and "reaffirmed guidance" failed to impress.
- Primus Guaranty Ltd. (PRS) is now down nearly two-thirds from highs, although it appears that it isn’t closing on 52-week lows even after an almost 10% drop. Guess who sells credit swaps for their living?
- Raymond James (RJF) saw close to a 10% drop after yesterday’s numbers.
- THQ inc. (THQI) showed not all game makers are equal after it has write-offs from title discontinuations with almost a 30% price drop today.
- Vertex Pharma (VRTX) spent much of the day at 52-week lows although it clawed back above the $19.13 low at the end of the trading session. This was at a 2-year low yesterday on a hepatitis-C trial timing issue. Citigroup downgraded it today.
Jon C. Ogg
January 24, 2008