Anti-Obesity Drug CAUSES Trouble for Arrowhead and 4 Stocks that Have Hit 52-Week Lows
Alpha Natural Resour (NYSE:ANR): Standard & Poor downgrades James River Coal (JRC), due to a predicted deterioration of liquidity for the firm, based on the probability of slumping demand for coal through 2013. Shares closed down 2.52 percent on the day at $7.73, as the effects of the downgrade filter through the coal sector. The shares had ranged between $7.83 and $7.25 during the last 52 weeks.
Arrowhead Research (NASDAQ:ARWR) reported the publication of data that indicate that its anti-obesity drug candidate, Adipotide, induces rapid metabolic changes with implications for Type II diabetes. Accordingly, shares closed at $3.16, which is down 1.56 on the day, having traded between $3.12 and $11.90 during the last 52 weeks.
Peabody Energy Corp. (NYSE:BTU) shares closed down 1.58 percent on the day at $21.12, following a Federal court ruling that the Environmental Protection Agency acted correctly when it issued rules to limit greenhouse gas emissions. The regulations mandated reductions of six heat-trapping gases from large industrial facilities such as factories and power plants, along with automobile exhaust pipes, according to the Associated Press. Peabody shares have traded between $21.31 and $61.85 during the last 52 weeks.
Cellcom Israel (NYSE:CEL) got a purported class action lawsuit filed against it and two other cellular operators in December 2007, dismissed without prejudice, at the parties’ request. However, a purported class action lawsuit filed by plaintiffs, alleges that the defendants have created environmental hazards by unlawfully building cell sites and therefore demands that the defendants will compensate the public for certain damages, dismantle existing unlawfully built cell sites, and refrain from unlawfully building new cell sites. Shares closed down 4.78 percent on the day at $5.98, and have traded between $6.26 and $28.52 during tha past 52 weeks.
Credit Suisse Group (NYSE:CS): According to a report prepared by the European Council, euro zone countries should transfer the monitoring of their banks to a European supervisor like the European Central Bank, says the Wall Street Journal. The report will be taken up at the euro zone summit on Thursday; it further states that governments should gain approval for budget deficits from other euro zone countries and requires that reconcile their spending and tax plans. Shares closed down 1.38 percent on the day at $17.84, having traded between $17.82 and $39.92 in a 52-week range.
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