Sony Among These Stocks Dropping to New Lows This Week
Some companies have just been flat out unlucky due to their performance and negative investor sentiment for their shares. These stocks recorded 52-week stock price lows on May 15th. Here’s the latest insight into what is happening on each stock:
Sony Corp (NYSE:SNE): AU Optronics (NYSE:AUO) is forecasting that worldwide TV panel demand will climb in 2H12, with average LCD screen size growing to 36.5 inches, as reported by Digitimes based on industry sources. Shares of Sony Corp Ord closed at $13.91, down $0.29 or 2.04% on the day. The shares have traded in a 52-week range of $13.83-$28.10. Shares are trading at $13.85 today.
A Closer Look: What Caused Sony’s Tumble to 31-Year Low?>>
Banco Santander S.A. (NYSE:STD): The Spanish ministry of economy is overseeing a possible merger between four Spanish savings banks that could result in the nation’s fifth-largest lender, the Financial Times reports. At the same time, Spain’s five biggest current banks report that they will set aside EUR14B in new provisions following the nation’s fourth reform program for its financial lenders since the start of the financial crisis. Shares of Banco Santander S.A. closed at $5.81, down $0.21 or 3.49% on the day, and have traded in a 52-week range of $5.92-$11.92. Shares are trading at $5.71 today.
Summer Infant (NASDAQ:SUMR), safety product manufacturer, has seen its shares drop dramatically following the company’s report of lower than hoped Q1 earnings. It reported Q1 EPS of 7c against a consensus estimate of 12c, and pointed out that its retail backdrop became more demanding through the first quarter, which required price discounting. Research firm Needham downgraded Summer Infant from Strong Buy to Hold, and Roth Capital held to a Buy rating, looking to new product launches to come later this year. Shares closed at $3.20, down $1.61 or 33.47% on the day, having traded in a 52-week range of $2.90-$9.09. Shares are trading at $2.99 today.
International Tower (AMEX:THM): The Board of Directors of International Tower Hill Mines will begin a review of the company’s Livengood Project to best utilize available development alternatives, such as infrastructure and processing options and financing possibilities. “We are very pleased with the progress we have made on the Livengood Project and the range of options open to us as we manage our costs according to our financial resources,” said Don Ewigleben, Chairman of the Board of Directors. “We look forward to updating shareholders on the results of our review.” Company shares closed at $2.73, down $0.54 or 16.51% on the day. They have traded in a 52-week range of $2.41 to $8.58. Shares are trading at $2.51 today.
Telestone Technologies (NASDAQ:TSTC)’s CEO Daqing Han said: “Despite a soft start to the year, we remain optimistic regarding continued growth in 2012. We also expect TIPS to begin to play a meaningful role this year. We will continue to invest in the development of innovative new products and services, while diversifying our geographic and customer mix. We continue to expect 2012 to be successful and significant year.” Shares of Telstone closed at $2.01, down $0.47 or 18.95% on the day. They have traded in a 52-week range of $1.95 to $9.55. Shares are trading at $1.96 today.
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