Bebe Stores Adds to Board and 3 Stocks that Have Hit 52-Week Lows
Adtran (NASDAQ:ADTN): After the company warned, in a regulatory filing that their fourth quarter revenue could drop by teen percentage levels, compared with the previous quarter, Adtran is sinking sharply. The company which provides services and support for communications networks, cited “typical seasonality” and “the current telecom equipment spending environment,” as reasons for the decline. Adtran’s statement today comes shortly after the company reduced their third quarter guidance on September 28, when they estimated that their third quarter revenue would be $162 million. Analysts’ consensus estimate for the company’s fourth quarter revenue is currently $173.35 million. In mid-afternoon trading, the company’s stock dropped $1.04, or 6.08%, to $16.07. Their shares closed at $16.38, down $0.73 or 4.27% on the day. They have traded in a 52-week range of $16.74 to $38.95.
Bebe Stores (NASDAQ:BEBE): Bebe Stores has announced that their Board of Directors will be using the global executive search firm Russell Reynolds Associates to assist with the recruitment of a new Chief Executive Officer. This milestone represents the next chapter in the company’s continuing evolution to a global, multi-brand, omni-channel contemporary lifestyle firm. The Board desires to recruit a chief executive who can implement strategies that will help them to grow their brands, distribution channels, customer experience, and ability to navigate the ever changing retail industry. Their shares closed at $4.59, down $0.08 or 1.71% on the day. They have traded in a 52-week range of $4.64 to $9.58.
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Dell Inc. (NASDAQ:DELL): According to DigiTimes, PC vendors are expected to offer entry level Ultrabook models for sale of up to $699 in order to generate large shipment volumes. Supply chain makers have said that high-end Ultrabook models may be on sale at above $1,000 to maintain profitability next year. Dell Inc.’s shares closed at $9.43, down $0.47 or 4.75% on the day. They have traded in a 52-week range of $9.72 to $18.36.
Hewlett-Packard Computers (NYSE:HPQ): In a press release to coincide with their analyst meeting, Hewlett-Packard Computers said, “The company is positioned to extend their leadership into the major trends that are driving IT investments, cloud computing, information optimization and data security. In May, HP initiated a multi year restructuring designed to realign their cost structure and create investment capacity to drive innovation against their strategic priorities, strengthen market leadership and rebuild their balance sheet while returning capital to shareholders. Despite the challenging environment, the company has maintained research and development (R&D) spending, along with a steady focus on preserving the long-term health of the business. The company is on track to deliver on their savings targets and complete the restructuring by the end of fiscal 2014.” Their shares closed at $14.91, down $2.22 or 12.96% on the day. They have traded in a 52-week range of $16.23 to $30.00.
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