Altria Group, Inc. (NYSE: MO) is a defensive stock that is supposed to hold up well, so investors are rolling into “risk” when the DJIA is up so much. Shares were down 0.6% at $24.39 this morning.
AOL Inc. (NYSE: AOL) has already bounced almost 10% from its lows this morning but shares are down 11.5% at $13.33 after hitting a 52-week low of $12.11 this morning. The smaller net loss and ad revenue growth appear to have missed targets, which seems odd considering how much the stock has sold off from its 52-week high of $27.65. At some point, that news should be priced in.
Cablevision Systems Corporation (NYSE: CVC) turned in growth on phone and internet additions, but the earnings missed estimates. The drop was another 9.5% to $17.67 and the stock hit a 52-week low of $17.24 earlier this morning. That is now down more than 50% from its 52-week high as well.
DTS, Inc. (NASDAQ: DTSI) is supposed to provide state-of-the-art audio technology to hundreds of millions of DTS-licensed consumer electronics products worldwide, but its earnings miss shows it isn’t powering enough of the devices with a lower 2011 guidance. DTS shares are down over 21% at $23.17 and the stock hit a 52-week low of $20.93 this morning.
EnerNOC, Inc. (NASDAQ: ENOC) is supposed to help companies cut their energy use and cut their energy bills but it is not doing enough of it. Besides being unable to use a tax benefit, its growth has peaked as its $280 million to $300 million sales projection for 2011 is the sae for 2012. Many Wall Street analysts downgraded the stock on a huge disappointment. Shares are down almost 36% at $9.20 after a 52-week low was hit of $9.13 and the high was $34.38.
Fossil, Inc. (NASDAQ: FOSL) was supposed to be a jewelry winner as it is not deep into gold and silver exposure. It turns out not to be the case in many of its brands and margins took a beating on higher input costs and on a weak outlook ahead. Fossil shares were down 18.8% at $76.19. Keep in mind that its 52-week trading range is $42.08 to $134.98.
Getty Realty Corporation (NYSE: GTY) gave an update on its Getty Petroleum Marketing operations: it has not received the monthly rental payment for August from its largest tenant under its Master Lease and other leases. Shares are down 13.5% at $17.26 and shares hit a 52-week low of $16.60 versus a high of $32.20.
Limelight Networks, Inc. (NASDAQ: LLNW) is getting crushed after missing earnings and missing on revenues and then guiding lower for the third quarter. Shares are down over 30% at $2.27 and the stock hit a low of $2.229 this morning. Just one more bit of proof that communications equipment and expedited content delivery slowing is persisting.
MGM Resorts International (NYSE: MGM) posted a gain after MGM China but the peak appears to have been called on gains. MGM shares are down 4.5% at $11.02 versus a 52-week range of $8.92 to $16.94.
Stereotaxis, Inc. (NASDAQ: STXS) is the sole $1+ stock covered today because it is THE LOSER OF THE DAY with a 59% drop to $1.16 with a new 52-week low and an adjusted 52-week trading range now of $1.13 to $4.67. The company markets cardiology instrument control systems, but apparently doesn’t market them very well. Volume is 5-times normal at over 300,000 shares and the stock. The company reported a wider loss, announced cost cuts, and its CFO is leaving the company. Nice.
JON C. OGG
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