Cree Inc. (NASDAQ: CREE) dropped about 4.7% on Monday to post a new 52-week low of $40.66. Share volume is about 40% above the daily average of around 1.7 million. The stock’s 52-week high is $75.98. The company downgraded to Neutral from Buy and the price target was cut to $48 from $60 at Goldman Sachs.
Herbalife Ltd. (NYSE: HLF) sank to a new 52-week low on Monday of $45.12. Based on Friday night’s closing price of $46.03 that’s a drop of about 2%. The stock’s 52-week high is $83.51.The company had no news today but nemesis Bill Ackman announced this morning that Pershing Square will raise $2 billion for a new fund that will trade publicly in Amsterdam and will have a market cap of at least $5 billion after an IPO now scheduled for next month. Trading volume for Herbalife was about 50% below the daily average of around 2.5 million shares.
Bankrate Inc. (NYSE: RATE) dropped nearly 23% today to post a new 52-week low of $10.66. Share volume was more than 4-times higher than the average daily volume of around 700,000 shares. The stock’s 52-week high is $23.14. The financial website appointed an interim CFO this morning to replace the current CFO who will remain with the company as a senior vice-president. The company also said that the SEC is investigating its financial reporting for 2012.
Terex Corp. (NYSE: TEX) dropped about 7.8% today to post a new 52-week low of $32.00. Volume is roughly 3.5-times higher than the daily average of around 1.9 million shares. The construction and heavy equipment maker lowered profit guidance Monday morning. The stock’s 52-week high is $45.46.