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The S&P 500 (NYSEARCA:SPY) is up 0.46 percent today and stands at 1,401. These stocks are down on bad news.
Assurant Inc. (NYSE:AIZ) is one of the 10 biggest “lender-placed coverage” insurers in California, and has been contacted by California Insurance Commissioner Dave Jones with his worries about excessive rates among the group. Jones said Wednesday that Assurant and the others have been directed to make a rate filing with the California Department of Insurance for rate reduction. AIZ shares recently traded at $40.68, down $1.48, or 3.51%. They have traded in a 52-week range of $30.65 to $44.54. Volume today was 3,181,015 shares versus a 3-month average volume of 911,008 shares. The company’s trailing P/E is 7.28, while trailing earnings are $5.58 per share.
LSI Corporation (NYSE:LSI) is downgraded to Sell at CSLA, which says that LSI’s upward moves in the hard-disk drive market”are now behind”. Further, the analyst fear that LSI’s first quarter positives were partly due to its building inventory. Even though the company’s execution was “impressive” CSLA says that “expectations are well ahead of fundamentals and we see the risk of a significant correction.” LSI shares recently traded at $8.97, down $0.17, or 1.86%. They have traded in a 52-week range of $4.75 to $9.20. Volume today was 13,121,430 shares versus a 3-month average volume of 11,187,400 shares. The company’s trailing P/E is 16.25, while trailing earnings are $0.55 per share.
eBay Inc. (NASDAQ:EBAY)-owned GSI Commerce sees its contract with Casual Male Retail (NASDAQ:CMRG) terminated, as the latter company discontinues its European Direct business. GSI provides the web store design, order processing, fulfillment and customer call center services in European web stores owned by Casual Male. EBAY shares recently traded at $36.82, down $0.8, or 2.13%. They have traded in a 52-week range of $26.86 to $37.72. Volume today was 9,427,430 shares versus a 3-month average volume of 10,520,200 shares. The company’s trailing P/E is 14.96, while trailing earnings are $2.46 per share.
Nucor Corporation (NYSE:NUE) expected first quarter 2012 results include an estimated LIFO charge of 3c per share. 6c per share were charged in the first quarter 2011 and 11c per share in fourth quarter. NUE shares recently traded at $43.27, down $0.64, or 1.46%. They have traded in a 52-week range of $29.82 to $48.00. Volume today was 4,275,454 shares versus a 3-month average volume of 2,713,690 shares. The company’s trailing P/E is 17.70, while trailing earnings are $2.44 per share.
Apple Inc. (NASDAQ:AAPL) sells off after reaching $600 a share Thursday. Its iPad 3 will be launched on Friday. AAPL shares recently traded at $587.81, down $1.77, or 0.3%. They have traded in a 52-week range of $310.50 to $594.72. Volume today was 35,392,167 shares versus a 3-month average volume of 16,443,400 shares. The company’s trailing P/E is 16.71, while trailing earnings are $35.14 per share.
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