Coal’s Woes and 4 Stocks Slip to 52-Week Lows
Alpha Natural Resources (NYSE:ANR): According to the man, Wilbur Ross, who built a company from distressed U.S. coal assets and sold it for $3.8 billion last year, the current slump in the industry differs from other setbacks and could last for multiple years due to the shale-gas boom, Bloomberg reports. The shares closed at $6.85, down $0.78 or 10.22% on the day. They have traded in a 52-week range of $7.17 to $47.23.
Flir Systems (NASDAQ:FLIR): According to the Washington Post, Democrats are stating more explicitly that they intend to allow automatic spending cuts as well as tax increases to come into effect in January, unless Republicans agree to implement tax increases on wealthy Americans. The Democrats have become bolder since it appears the GOP’s opposition to tax increases is becoming weak. The shares closed at $18.33, down $0.44 or 2.34% on the day. They have traded in a 52-week range of $18.49 to $29.12.
Gardner Denver (NYSE:GDI) board of directors announced the resignation of President, CEO, and Director Barry L. Pennypacker and will be replaced by VP and CFO Michael M. Larsen, as interim CEO, beginning immediately. Diane Schumacher, who has served on many senior management and legal roles at Cooper Industries, will keep serving as board chairperson and will assist Larsen with the transition. Larson currently overlooks all company financial issues, including mergers and acquisitions, and will keep his CFO responsibilities as well during the interim period. The company predicts Q2 results to be in line with its previous guidance. The shares closed at $48.22, down $4.56 or 8.64% on the day. They have traded in a 52-week range of $47.74 to $92.93.
Gamestop Corp. (NYSE:GME): According to CNet, Google’s (NASDAQ:GOOG) Nexus 7 tablet could already be out of stock at main retailers. GameStop (NYSE:GME), Staples (NASDAQ:SPLS), Office Depot (NYSE:ODP), and Sam’s Club (NYSE:WMT) all show a backlog or out of stock with a delay of 1-2 weeks. The shares closed at $16.57, down $0.26 or 1.54% on the day. They have traded in a 52-week range of $16.72 to $26.66.
Hewlett-Packard Comp (NYSE:HPQ) is set to be overtaken by Lenovo Group (LNVGY) as the largest PC maker by sales for the year, states Reuters. However, a few analysts believe that the rapid market share gains could come at the expense of profit margins. The shares closed at $18.81, down $0.17 or 0.9% on the day. They have traded in a 52-week range of $18.77 to $37.70.
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