Sony to Sell Battery Unit and 3 Stocks Dipping to 52-Week Lows
Arvinmeritor (NYSE:MTOR) sees its FY13 sales reaching $4 billion, consensus $4 billion. Also, the company sees its FY13 free cash flow from the ongoing operations about break including $73 million of pension contributions and an FY13 effective tax rate of about 50 percent, according to comments taken from investor presentation slides. The shares closed at $4.00, down $0.21 or 4.99 percent on the day. They have traded in a 52-week range of $3.90 to $8.74.
Sony Corp Ord (NYSE:SNE) may be holding preliminary talks with Hon Hai Precision, along with Japanese and foreign investment funds, to sell its battery business, according to the Nikkei reports. Sources claim that Sony is considering retaining some stake in the battery unit, possibly generating about 142.5 billion yen in sales in the year that ended in March. According to Thefly, Reuters released a report yesterday claiming that Sony was approached by at least three investment banks in relation to the possible sale of the battery business. The shares closed at $9.79, up $0.05 or 0.51 percent on the day. They have traded in a 52-week range of $9.72 to $22.35.
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Universal Technical (NYSE:UTI) claimed on a conference call and in a press release its expectations of 2013 new student starts for the first half of the year to be flat to slightly down prior to possible improvement during the second half, causing full year new student starts to be close to flat year over year. Furthermore, the company has confirmed the rest of the previously disclosed FY13 guidance. The shares closed at $8.80, down $3.44 or 28.1 percent on the day. They have traded in a 52-week range of $10.92 to $14.78.
You On Demand Holdin (NASDAQ:VOD) : YOU On Demand Video On Demand (NASDAQ:VOD) platform signed a carriage agreement with cable operator Hunan CATV Network Group Co., Ltd. Hunan CATV is a provider of services to 6 million cable homes in more than 100 cities and counties, such as Changsha, Zhuzhou, Hengyang, Changde and Shaoyang. The shares closed at $2.38, down $0.1 or 4.03 percent on the day. They have traded in a 52-week range of $2.00 to $8.00.
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