Investing

The 52-Week Low Club for Tuesday

down market
Source: Thinkstock
August 12, 2014: Stocks making new 52-week lows today included the following four firms.

Ceasars Entertainment Corp. (NASDAQ: CZR) saw shares fall nearly 18% to a new 52-week low of $11.26 Tuesday afternoon. The company today announced a deal with bondholders that cuts the company’s debt by $548.4 million as it tries to cut its interest payments to an amount less than its cash flow.

Flowers Foods Inc. (NYSE: FLO) dropped about 7.5% on Tuesday to post a new 52-week low of $18.50. The 52-week high is $25.67. The company reported results this morning that missed both earnings and revenue estimates. To top it off, Flowers also lowered fiscal year guidance.

Key Energy Services Inc. (NYSE: KEG) traded down about 2% on Tuesday to post a new 52-week low of $5.98. Volume is approaching the daily average of about 2.7 million shares traded, and the 52-week high is $10.52. The onshore oilfield services firm reported results this morning that were in line with expectations, but weak nevertheless. The company had nothing to say about its outlook other than that “changes are underway… .”

Millennial Media Inc. (NYSE: MM) dropped about 16% to post a new 52-week low of $2.48 in the late morning today. The mobile advertising network reported results after markets closed Monday night and missed its own revenue forecast and the revenue guidance for the current quarter is below consensus estimates. The company’s CFO left his job at the end of the quarter and the head of sales is leaving at the end of the week.

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