Panasonic Plans to Slash Jobs and 2 Stocks Dropping to 52-Week Lows
Nvidia Corporation (NASDAQ:NVDA): Gartner Research predicts the world semiconductor market down by 3 percent to $298 billion from $307 billion year-over-year. The company also raises its fiscal year 2013 forecast up 4.2 percent to $310 billion, according to the Electronic Engineering Times, citing a Gartner briefing in Egham, England. Shares closed down 2.45 percent on the day at $11.54, having been traded in a 52-week range of $11.63 to $16.90.
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Panasonic Corporation (NYSE:PC) intends to slash an additional 10,000 jobs by the end of March, says Reuters, since only around 20 percent of business divisions lose revenue and about 50 percent are meeting a goal of a minimum of a 5 percent percent operating margin. In 2011, the firm cut 36,000 jobs, although some of those were through the sale of units. Shares closed down 4.34 percent on the day at $4.63, and have been traded in a 52-week range of $4.73 to $9.56.
Quality Distribution (NASDAQ:QLTY), in comments from slides to be presented at Stephens Fall Investment conference, foresees an opportunity for double digit organic growth in the Energy segment, along with high single-digit organic growth in its Intermodal segment and mid single-digit organic growth in its Chemical segment. Shares closed down 0.77 percent on the day at $5.16, having been traded in a 52-week range of $5.47 to $14.61.
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