Every day 24/7 will look at widely traded stocks that hit 52-week lows
Transmeta (TMTA) Down from a one-year high of $2.37 to $.72. Company licenses intellectual property for chips. Quarterly sales went from $13.3 million last year to $2.4 million in the latest quarter. Net loss moved from $2 million to almost $15 million. Surprising the stock isn’t lower.
AVANIR Pharma (AVNR) Company is having revenue recognition issues. Not much cash on the balance sheet. The company’s major drug continues to be delayed. The stock has a 52-week high of $18.14 and closed at $1.86.
PRA Intl. (PRAI) Down from a 52-week high of $32.22 to close at $20.06. Clinical development company had a fall of in earnings from $7.5 million last year to $5.7 million in the most recent quarter.
Corus Bancshares (CORS). Condo and redevelopment loan operation has been taking higher than usual write-offs. Had an annual high of $33.74. Now sits at $18.56.
Fremont General (FMT). Was $24.13 within the last 12 months. Now $8.18. Sub-prime mortgage lender is delaying filing of latest quarter and annual results.
Office Depot (ODP) Down from a year high of $46.52 to $36.62. Slow revenue sales and a fourth quarter miss on EPS.
Micron Technology (MU) High for the last year of $18.65, now at $11.86. Memory chip company is seeing huge drop in prices for it NAND flash products. Market obviously doesn’t see recovery soon.
McClatchy Newspapers (MNI). Down from $56.12 high for last 12 months to $37.37. Wall St. thinks newspapers are dying business and MNI made the mistake of buying more when it purchased most of Knight-Ridder.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
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