52-Week Low Club (AGN, WTR, CTB, ISLE, LPSN, OPTT, SGIC, SNCR)
May 7, 2008 by Douglas A. McIntyreToday turned out being an ugly day, but there were many stocks that fell sharply to new 52-week lows all on their own without help from the market working against them.
Allergan Inc. (NYSE: AGN) hit a new low today despite showing earnings growth that beat expectations and announcing positive guidance. Shares were at $2.31 after hitting a low of $51.00 intraday. The 52-week range is $52.26 to $70.40. Apparently it takes more than good earnings to boost the health of this healthcare stock.
Aqua America Inc. (NYSE: WTR) missed earnings estimates and suffered adowngrade by Wachovia this morning. So much for water being the safestinvestment around. Shares are sitting at $17.42 in the final minutestoday; prior 52-week range of $17.75 to $26.62. This water companyprobably needs a different beverage tonight after today.
Cooper Tire & Rubber Co. (NYSE: CTB) needs a tire change after first quarter income reported this morning dropped. Shares are sitting at $12.72 in the final minutes today. The 52-week range wass $12.85 to $28.50.
Isle of Capri Casinos Inc. (NASDAQ: ISLE) was down to $6.42 in the final minutes today. The 52-week range is $6.43 to $26.03. Who says the house always wins?
LivePerson Inc.’s (NASDAQ: LPSN) weak quarter one earnings and outlook is pushing this stock down to $2.51 compared to a 52-week range of $2.68 to $6.94.
Ocean Power Technologies, Inc (NASDAQ: OPTT) hitting yet another 52-week low today. Shares for this ocean wave renewable power generator are trading at about $8.25 in the final minutes today compared to a prior 52-week range of $8.56 to $19.75. So much for green always being the new gold. This is actually a post-IPO low.
Silicon Graphics Inc. (NASDAQ: SGIC) dropped after third quarter losses widened. A contract with NASA to supply the next superconductor isn’t enough to pull this stock up. Shares are trading at $7.62 late in the day compared to a 52-week range of $8.00 to $29.73.
Synchronoss Technologies, Inc. (NASDAQ: SNCR) took a massive hit after they released guidance that the company is concerned with revenues by Apple’s (NASDAQ: AAPL) iPhone. Tuesday, the company reported a 17% profit growth at $0.16 EPS on $29.1 million in revenues, meeting estimates; but guidance stank the place up. Shares were down over 43% to $12.92 in late-day trading on extremely high relative trading volume. The 52-week range was $15.15 to $48.03.
Jon C. Ogg
May 7, 2008
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