Sony Among These Stocks Sinking to New 52-Week Lows
Lincoln Educational (NASDAQ:LINC): News from the U.S. Senate Thursday that they failed two bills to prevent the doubling of the interest rate on student loans in July means negative news for education stocks. The Washington Post reported that both Democrats and Republicans are unable to agree on how to pay for maintaining the low interest rate, and the future of student loan rates remains in limbo. Lincoln Educational shares were hurt by the news and dropped 3.07% to close $6.05 Friday. They have traded in a 52-week range of $5.86 to $19.89.
Sony Corp (NYSE:SNE): Despite positive news that Sony Mobile’s plans to rollout its Xperia NXT series — Xperia S, Xperia P and Xperia U — are progressing as planned, Sony shares have fallen drastically in the last few days. Xperia S will be the first smartphone to be upgraded starting at the end of June, followed by Xperia P then Xperia U later in Q3. Regarding Xperia PLAY, Sony said, “After extensive in house testing with our developer teams and working with our partners, we have concluded that a consistent and stable experience, particularly with gaming, cannot be guaranteed for this smartphone on Ice Cream Sandwich therefore, we will not make the Android 4.0 upgrade available for Xperia PLAY.” Sony shares dropped 3.34% on Friday to close at $13.30 and have traded in a 52-week range of $13.55 to $27.32.
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VimpelCom Ltd (NYSE:VIP): Not everything has been so open at VimpelCom, and the secretiveness has hurt the Russian mobile carrier. VimpelCom received an injunction from Russian antitrust regulators a few days ago stems after a ruling that shareholder Telenor illegally acquired preferred shares of VimpleCom from Weather Investments. Since, a VimpelCom subsidiary is barred for paying dividends, and the powers of its board and auditors has been taken away. Shares fell 16.27% and closed at $7.31 Friday. They have traded in a 52-week range of $8.38 to $14.32.
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