July 29, 2014: Stocks making new 52-week lows today include four firms from different industries. The lows given below were set today and before Tuesday’s closing bell.
Meridian Bancorp Inc. (NASDAQ: EBSB) has been updated on Wednesday and should perhaps not be on this list of true 52-week lows. This was listed on the 52-week club at both Finviz and at Barcharts websites, but WSJ data using NASDAQ did not include it. The new adjusted 52-week trading range on Yahoo! Finance is listed as $7.91 to $11.53. The original note said – dropped nearly 59% following the completion of a stock offering that replaced shares in Meridian Interstate Bancorp Inc. with 32.5 million shares in the newly named company, Meridian Bancorp. The conversion rate was 2.4484 shares of the new company for each share of the old. Shares closed on Monday at $25.42 before the conversion took place. (See images below)
Targacept Inc. (NASDAQ: TRGT) announced Monday after markets closed that it will abandon further development of its treatment for overactive bladder after see disappointing results in a mid-stage study. The stock is down 27.8% today in a 52-week range of $2.79 to $6.11.
A.M. Castle & Co. (NYSE: CAS) reported a quarterly net loss Tuesday morning of $72.3 million or $3.10 per diluted share. Shares are down about 15.2% in a 52-week range of $9.18 to $17.54. The company is a distributor of metal and plastic products and supply chain services.
Education Management Corp. (NASDAQ: EDMC) shares fell more than 8.5% today, after the company said that William R. Johnson will not stand for election to the company’s board. Johnson is the former CEO of H.J. Heinz and was elected to Education Management’s board in November of last year. The stock’s 52-week range is $1.25 to $16.94.
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