52-Week Low Club (ELY, GHS, GE, GM, GFI, MRK, Q, SHLD, JAVA, TSCM, VIA.B, CBS, AMR, AAI, DAL, UAUA)
Today’s 52-week low list was full of some of the usual suspects, and you can count airlines as the top group of 52-week lows after that breather in oil prices did not hold. There were also many other stocks that…
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Today’s 52-week low list was full of some of the usual suspects, and you can count airlines as the top group of 52-week lows after that breather in oil prices did not hold. There were also many other stocks that hit 52-week lows today, and we didn’t even bother including any of the usual suspects in financials. Here is a sample of the 200+ we saw today:
- Callaway Golf (NYSE: ELY) is seeing the same old same old, fewer golf club and accessories being bought as consumers are strapped and have to actually work rather than play golf.
- Gatehouse Media (NYSE: GHS) keeps sliding… is Chapter 11 near?
- General Electric Co. (NYSE: GE) is getting farther and farther away from that $33.75 fair value we assigned for the end of 2008.
- General Motors (NYSE: GM) is still appearing here, poorer consumers can’t qualify for new cars.
- Gold Fields Ltd. (NYSE: GFI) is a surprise with high gold prices.
- Merck Co. Inc. (NYSE: MRK)
- Qwest Communications (NYSE: Q), wasn’t too long ago they juiced a huge dividend.
- Sears Holdings (NASDAQ: SHLD) hit a 52-week low but that didn’t hold.
- Sun Microsystems (NASDAQ: JAVA) is learning that the reverse stock split game isn’t a winning formula.
- TheStreet.com (NASDAQ: TSCM) as financial subscribers may be less willing to shell out hundreds of dollars if their bullish investments have a hard time being that bullish.
- Viacom (NYSE: VIA.B) and CBS Corp. (NYSE: CBS) as Sumner Redstone can’t save a crummy environment.
This list was far longer looking than you would guess by this short review. Here are some of the airlines that hit new 52-week lows:
- Airtran Holdings Inc. (NYSE: AAI), AMR Corp. (NYSE: AMR), Delta Air Lines (NYSE: DAL), and UAL Corp. (NASDAQ: UAUA).
Jon C. Ogg
June 12, 2008
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.