Intersil Trading HALTED and 4 Stocks Falling to 52-Week Lows
International Game (NYSE:IGT) falls sharply after reporting much weaker than expected Q3 results last night. The company mentioned that the global economy has been experiencing an “inconsistent” recovery. International Game did keep its fiscal 2012 adjusted earnings per share guidance from continuing operations of 98c-$1.04. Analysts’ consensus estimate was $1.04. Acquisition-related expenses and tax items are excluded in these estimates. In a note to investors earlier this morning, however, The stock was downgraded by Roth Capital to Neutral from Buy. The firm believes that International Game had weak results, and it believes the company’s guidance as aggressive. However, Roth mentions that the company’s domestic Q3 revenues fell 8 percent versus the same period a year earlier, and the firm predicts that the company’s gaming operations would be hurt by more competition for several more quarters. During mid-morning trading, International Game dropped $2.23, or 15.18 percent, to $12.46. Other casino game makers also fell, with WMS Industries (NYSE:WMS) giving back 4.90 percent to $18.24 and Shuffle Master (NASDAQ:SHFL) losing 1.18 percent to $15.09. The shares closed at $11.76, down $2.93 or 19.95% on the day. They have traded in a 52-week range of $13.12 to $19.15.
Intersil Corp. (NASDAQ:ISIL) trading has been halted, and news is pending. The shares closed at $9.56, down $0.07 or 0.73% on the day. They have traded in a 52-week range of $9.56 to $12.97.
Netflix (NASDAQ:NFLX) CEO Reed Hastings brought up the possibility of partnering with Time Warner’s (NYSE:TWX) HBO, but a HBO spokesman for states that the company knows of “no plans” to work with Netflix, according to Reuters. The shares closed at $60.28, down $20.11 or 25.02% on the day. They have traded in a 52-week range of $60.70 to $274.00.
Panasonic Corp. (NYSE:PC): LCD panel makers and the upstream component supply chain located in Taiwan are being pessimistic regarding the LCD TV market, with indications that prices could remain flat through the year’s second half, according to Digitimes. The shares closed at $6.19, down $0.23 or 3.58% on the day. They have traded in a 52-week range of $6.28 to $11.92.
Radioshack Corp. (NYSE:RSH) CEO Jim Gooch stated: “Our financial position and balance sheet are strong, our liquidity exceeds $900 million, and year-to-date we generated positive operating cash flow. As we look towards the upcoming debt maturity of $375M in August 2013, we have decided to adjust our capital structure and lower our debt-to-equity ratio. We expect to refinance approximately one-half of this debt maturity in the coming months, with the balance paid down with excess cash. In conjunction with this strategy, we have decided to suspend our dividend program. This will allow us to increase the amount of excess cash available to pay down the debt, continue to invest in improving the business, and ensure that we maintain our strong balance sheet. We believe this approach will drive the best long-term outcome for our shareholders.” The shares closed at $2.60, down $1.05 or 28.77% on the day. They have traded in a 52-week range of $3.47 to $15.40.
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