August 1, 2014: Stocks making new 52-week lows today included the following four firms.
Dick’s Sporting Goods Inc. (NYSE: DKS) saw shares fall to a new 52-week low of $41.74 after laying off 400 golf instructors earlier this week as sales of golf gear shrinks. The stock’s 52-week high is $58.87 and more than 2 million shares change hands on an average trading day. Gun sales are also dropping faster than the firm expected.
Lumber Liquidators Holdings Inc. (NYSE: LL) posted a new 52-week low of $52.76 on Fridday. The 52-week high is $119.98 and shares slipped nearly 2% today. The retailer reported earnings on Wednesday and results were short of estimates, same-store sales were down sharply, and guidance had already been lowered early in July. There seems to be no end in sight for the home improvement retailer.
Web.com Group Inc. (NASDAQ: WWWW) traded down nearly 25% today and the stock posted a new 52-week low of $19.37. The 52-week high is $37.72. A Deutsche Bank analyst maintained a Hold rating on the stock, but cut the price target from $30 to $21 after the company posted weak results last night. Another analyst cut the stock’s rating from Buy to Neutral and chopped the price target from $34 to $24.
Ceasars Entertainment Corp. (NASDAQ: CZR) dropped more than 4.5% today and posted a new 52-week low of $15.25. The 52-week high is $26.74. Fitch Ratings issued a note earlier in the week pointing out that the company is struggling to avoid defaulting on $12.9 billion in high-yield debt.
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