GM WORKING Towards Myanmar Expansion and 4 Stocks Declining to 52-Week Lows
Dice Holdings (NYSE:DHX) reports a Q2 EPS of 14c, consensus 13c. The shares closed at $7.19, down $1.04 or 12.64% on the day. They have traded in a 52-week range of $7.02 to $14.39.
Ford Motor Credit (NYSE:F) Q2 results have no impact on the rating or outlook, according to Standard & Poor’s Ratings Services. North American profits keep dominating the results; margins for the market were consistent with continuing expectations at 10.2 percent (albeit lower than the 11.5 percent last quarter), but many other regions made losses. Because of the outlook for some of these other markets, especially a very weak European outlook, North America should generate the vast majority of Ford’s profits and cash flow during 2012. The shares closed at $8.97, down $0.09 or 0.99% on the day. They have traded in a 52-week range of $8.95 to $13.05.
Corning Inc. (NYSE:GLW): Telecommunications segment sales are predicted to be consistent with the prior quarter and with normal seasonal trends. Corning believes that optical fiber and cable sales in China will stay strong. Specialty Materials segment sales are predicted to show an increase of 10 percent to 15 percent sequentially, showing improved Gorilla Glass sales during the quarter. Environmental Technologies segment should be similar to the previous quarter. In the Life Sciences segment, Corning expects sales to be consistent to up slightly over Q2 results. Dow Corning equity earnings during Q3 are predicted to fall approximately 30 percent, mostly pushed by the non-repeat of an $11 million gain during the second quarter. Corning thinks that LCD glass volume for the company’s wholly owned business and Samsung Corning Precision will increase into the low double digits sequentially. Glass price declines during the quarter are predicted to stay moderate. The shares closed at $11.14, down $0.93 or 7.71% on the day. They have traded in a 52-week range of $11.51 to $16.45.
General Motors Compa (NYSE:GM) wishes to expand in Myanmar but fears it could be too early to place staff or open a dealership there, according to GM Southeast Asia President Martin Apfel, according to the Wall Street Journal. There are concerns regarding whether or not there is a completely free press in the country. Also, U.S. companies still need to do work to ensure compliance with U.S. sanctions, Apfel added. The shares closed at $18.80, down $0.22 or 1.16% on the day. They have traded in a 52-week range of $18.85 to $29.00.
Hewlett-Packard Comp (NYSE:HPQ): The price to insure Hewlett-Packard (NYSE:HPQ) bonds against any possibility of debtor default, as measured by instruments called credit default swaps, has rocketed recently, and is now much more expensive than similar protection on the debt of some large tech peers, reports AllThingsD. This type of movement could have a possible negative impact on the overall cost of HP’s financing activities, the report notes. The shares closed at $17.78, down $0.21 or 1.17% on the day. They have traded in a 52-week range of $17.81 to $37.21.
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