SanDisk, Acuity Brands, WebMD Top Stock Price Percentage Losers Apr 4th
SanDisk Corporation (NASDAQ:SNDK): RBC Capital downgraded SanDisk to Outperform and lowered its price target for shares to $57 from $67 after the company lowered its revenue outlook for Q1. RBC expects SanDisk’s accelerated pricing declines to hurt its earnings leverage and feels the company may take around $100M in inventory charges. The shares closed at $44.51, down $5.54, or 11.07%. They have traded in a 52-week range of $32.24 to $53.46.
Acuity Brands, Inc. (NYSE:AYI): The company says “Third-party forecasts suggest that the North American lighting market, which includes renovation and relight activity, will increase in the low-to-mid single digits during the remainder of our fiscal 2012. We believe opportunities continue to exist that will allow us to continue to outperform the markets we serve. These opportunities include benefits from growing renovation and tenant improvement projects, further expansion in underpenetrated geographies and channels, and growth from the introduction of new products and lighting solutions.” The shares closed at $57.50, down $6.15, or 9.66%. They have traded in a 52-week range of $33.13 to $64.82.
WebMD Health Corp. (NASDAQ:WBMD): WebMD Health announced the preliminary results of its tender offer to repurchase up to $150M of its common stock through a modified “Dutch auction” tender offer, which expired at 5:00 p.m., New York City time, on Tuesday, April 3. In accordance with the terms and conditions of the tender offer, WebMD expects to acquire 5,769,230 shares of its common stock at a price of $26.00 per share, for an aggregate cost of $150M, excluding fees and expenses relating to the tender offer. These shares represent approximately 10.15% of WebMD’s currently outstanding common stock. The shares closed at $23.29, down $2.42, or 9.41%. They have traded in a 52-week range of $24.51 to $58.55.
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