WebMD ADJUSTS Guidance and 4 Stocks Scraping 52-Week Lows
Sunpower Corp. (SPWR): The European solar panel manufacturers are filing a trade complaint against their Chinese rivals, comparable to the one in the U.S. resulting in steep punitive tariffs, according to Financial Times. The report states that the EU case possibly could be more significant because the eurozone is the largest solar market in the world. The shares closed at $3.82, down $0.24 or 5.91% on the day. They have traded in a 52-week range of $4.05 to $20.95.
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Stmicroelectronics (NYSE:STM) CEO Carlo Bozotti stated: “Looking forward, key operational priorities as we navigate the softness in the market environment include market share gains in the 2H of 2012 and careful management of our assets and investments in order to maintain ST’s solid net financial position. In this regard, we are reducing by approximately 25% our full year 2012 capital expenditures plan to be in the range of $500M-$600M for 2012. Furthermore, we are focused on delivering continued expense reduction. Overall, we will become a much leaner company with increased flexibility to adjust to market conditions and reduce our earnings volatility.” The shares closed at $4.58, down $0.18 or 3.78% on the day. They have traded in a 52-week range of $4.61 to $8.60.
Visteon Corp. (NYSE:VC) announced a cash tender offer for outstanding publicly held shares which are not owned by the company expired on July 24, with no acceptance of the tendered shares, because the 95 percent condition was not satisfied. IT was condition to the offer that the company would successfully tender for a minimum of 26.4 million shares in order to gain at least 95 percent ownership of the issued and outstanding HCC shares. Visteon plans to tell the tender offer agent toe cancel subscriptions in relation the the tendered shares. The shares closed at $29.12, down $1.41 or 4.62% on the day. They have traded in a 52-week range of $30.23 to $68.56.
WebMD Health Corp (NASDAQ:WBMD) decreased its revenue view for 2012 to $455 million to $480 million, consensus $502.29 million. Its view before was $500 million to $535 million. The company’s decision to adjust its financial guidance came after its review of actual Q2 sales and its sales expectations and related revenue contribution for Q3/Q4 of 2012. The new guidance predicts lower sales commitments and related revenue for the balance of 2012 than was expected before. The company predicts that a number of its customers will reevaluate expenditures in man areas, like marketing expenditures across their entire product portfolios, while it deals with both the continued and expected impact of patent expiration across their businesses and as there are more delays than expected in the new product launches due to unanticipated delays in FDA approvals. The shares closed at $14.65, down $3.27 or 18.25% on the day. They have traded in a 52-week range of $17.88 to $40.24.
Wipro Limited (NYSE:WIT): Wipro Technologies, the Global Information Technology, Consulting and Outsourcing business of Wipro Ltd (NYSE:WIT), announced the signing of a large multi-year contract with Royal Philips Electronics (NYSE:PHG) as its Global Prime Partner in its Transformational program, attempting to enable enhanced business growth and profitability. As part of the global engagement, Wipro is to work with Philips on their transformational path toward the optimization and enhancement of all their business processes of Idea to Market, Market to Order, and Order to Cash across a large spectrum of technology enabling platforms which include Integration, User Interaction, and Security & Authorization. Wipro is also to be the System Integrator for important initiatives across Philips’ businesses and platforms. The shares closed at $7.77, down $0.1 or 1.27% on the day. They have traded in a 52-week range of $7.77 to $12.49.
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