OCZ Technology LOWERED Q2 Guidance and 2 Stocks Hitting 52-Week Lows
Layne Christensen (NASDAQ:LAYN) announced that Islamorada, Village of Islands, Florida approved a design-build-operate contract with Reynolds Water Islamorada, LLC for a centralized wastewater system. The system will satisfy the Village’s requirement to implement a mandate from the Florida Department of Environmental Protection for the elimination of all residential septic systems and private wastewater treatment plants in the Florida Keys by December 31, 2015. Layne’s Heavy Civil Division is to perform the work on this project. The shares closed at $18.09, down $0.91 or 4.79% on the day. They have traded in a 52-week range of $18.20 to $27.40.
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Ocz Technology Group (NASDAQ:OCZ): SanDisk (NASDAQ:SNDK), which develops NAND flash memory chips, sees a boost after solid state drive maker OCZ Technology lowered its Q2 revenue guidance last night because of a shortage of NAND flash memory components. In a note to investors, Pacific Crest analyst Monika Garg wrote that this shortage would be beneficial for SanDisk, as it would be able to place higher prices on its NAND flash memory products. Also, it will be able to increase its share of the solid state drive market, since OCZ and other solid state drive markets are hampered by NAND shortages, Garg stated. In mid-morning trading, SanDisk jumped $3, or 7.39 percent, to $43.60. The shares closed at $4.35, down $1.01 or 18.84% on the day. They have traded in a 52-week range of $4.14 to $10.05.
Trina Solar Limited (NYSE:TSL): The European Commission began an anti-dumping investigation regarding imports of crystalline silicon photovoltaic modules and key components into the European Union, starting in China. Trina Solar is one of the China-based companies who supply these products to the EU, and Trina Solar thinks that the allegations made by Germany’s Solarworld AG and other petitioners of the so-called EU ProSun group “will eventually prove to be unfounded”, and that Trina Solar’s transactions along with its EU customers were and are made “in accordance with international fair trade practices”. Trina intends to “contest the allegations vigorously”. The shares closed at $4.03, down $0.16 or 3.82% on the day. They have traded in a 52-week range of $4.12 to $12.66.
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