Arch Coal and 4 Stocks DIVING to 52-Week Lows
Arch Coal (NYSE:ACI): The shares have traded in a 52-week range of $6.02 to $28.76.
Alpha Natural Resources (NYSE:ANR): Shares lost 2.61 percent after the company announced plans to downsize its coal mining business in northern and southern Kentucky following new regulations on coal-fired power plants that rendered unviable the production of coal from those areas. Shares closed at $9.32, down $0.25. They have traded in a 52-week range of $9.52 to $47.45.
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Au Optronics Corp (NYSE:AUO): World #4 LCD maker Au Optronics lost 5.88 percent even after a report in DigiTimes that panel prices could improve in June due to capacity constraints and the demand for high end panels due to the Summer Olympics. The shares closed at $3.68, down $0.23. They have traded in a 52-week range of $3.59 to $7.80.
Baker Hughes Inc. (NYSE:BHI): Shares lost 2.17 percent after the company announced rising U.S. rig counts for last week (+ 4 rigs) and from last year (+ 129 rigs to 1,984). U.S. oil rigs were +28 to 1,414 while gas rigs were lower by 23 to 565. The shares closed at $39.25, down $0.87. They have traded in a 52-week range of $39.40 to $81.00.
Tel-Instrument Elect (AMEX:TIK)Shares lost 17.78 percent after apprehensions arose that net profits for the fourth quarter could miss due to in-warranty rectifications on its past sales of CRAFT units. Revenues for the quarter could be $5.2 million. The shares closed at $4.44, down $0.96. They have traded in a 52-week range of $4.97 to $9.30.
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