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As the market waters remain calm and are not swinging in one big direction or another, here are the companies seeing selling pressure:
France Telecom S.A. (NYSE:FTE): France Telecom closed at $15.19, down $0.43 or 2.75 percent . Their 52-week range has been $15.09 to $15.28. Fulfilling rumors, France Telecom”s (NYSE:FTE) mobile-phone unit Orange Switzerland will be sold to P-E firm Apax Partners,but at a lower than expected price of 1.6 billiion euros ($2.1 billion). The deal must be approved by the Swiss.
Globe Specialty Metals, Inc. (NASDAQ:GSM): Globe Specialty closed at $12.58, down $1.27 or 9.17 percent. Their 52-week range has been $12.25 to $13.77. Globe Specialty Metals (GSM -9.7%) dipped down on downgrade by Jefferies to Hold and reduced outlook for earnings-per-share. The firm says silicon metal alloy prices are underperforming and will adversely fiscal year 2012 earnings.
K12 Inc. (NYSE:LRN): K12 Inc. closed at $18.53, up $1.28 or 7.42 percent. Their 52-week range has been $17.09 to $18.67. K12 took issue with New York Times article criticizing the company, saying it’s unfair and one-sided. K12 refutes the view, saying it it nothing but and editoprial, where instead of presenting an accurate view, the writer was picking and choosing facts to meet a storyline. The company say the article “omitted important information on the structure of online schools, student performance, teacher training and professional development, and the full scope of education programs and services provided by K12.”
Cellcom Israel (NYSE:CEL): Cellcom Israel closed at $15.65, down $0.27 or 1.7 percent. Their 52-week range has been $15.57 to $15.91. Third quarter year-to-year earning fell 40 percent as Cellcom Israel struggles with a rising churn rate and declining service revenues.
Franklin Street Properties Corp. (AMEX:FSP): Franklin Street closed at $9.90, down $0.1 or 1% on the day. Their 52-week range has been $9.85 to $10.01.
Further Reading: Lennar Corp Fourth Quarter Earnings Preview>>
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