Ebix Investigated by SEC and 3 Stocks Dipping to 52-Week Lows
Ebix Inc. (NASDAQ:EBIX): According to Bloomberg, who cited sources, Ebix Inc. is being investigated by the Securities and Exchange Commission over their accounting practices. The probe is focused on revenue recognition, internal controls and accuracy of their public statements to shareholders. Ebix’s Chief Executive Officer, Robin Raina, denied the existence of any SEC probe. In an email to Bloomberg, she said that any such investigation is “not known to us in any manner whatsoever.” Their shares closed at $19.26, down $3.15 or 14.06% on the day. They have traded in a 52-week range of $16.17 to $26.90.
Endo Pharmaceuticals (NASDAQ:ENDP): Net sales of Opana ER went down 36% for the third quarter due to a 33% decrease of prescriptions. The decline in Opana ER’s net sales is primarily the result of the first quarter supply disruption due to the Novartis plant closure in Lincoln, Neb. and a slower return to growth for Opana ER. Their shares closed at $26.73, down $2.5 or 8.55% on the day. They have traded in a 52-week range of $28.44 to $39.29.
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France Telecom S.A. (NYSE:FTE): According to Reuters, the European Union intends to release an extra 120 MHz of spectrum for 2014 to be used in 4G technology. Their shares closed at $10.92, down $0.16 or 1.44% on the day. They have traded in a 52-week range of $11.04 to $17.70.
Nutrisystem Inc (NASDAQ:NTRI): Nutrisystem Inc. announced that Dawn Zier will join the company as president and Chief Executive Officer. She will also serve on the Nutrisystem board of directors. She replaces Joe Redling who is stepping down as president and CEO and resigned from the company’s board of directors. Zier is a 20-year veteran of Reader’s Digest where she served most recently as president of the company’s international business. Their shares closed at $9.44, down $0.25 or 2.58% on the day. They have traded in a 52-week range of $9.52 to $15.55.
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