Notable 52-Week High's and Low's of the Day 08/31: LGF, SPRD, ARMH High; INTC, RIMM, WINN, CSCO Low
This report is an intraday check of some of the more notable stocks that have hit a 52-week high or low so far today.
52-Week High:
- Lions Gate Entertainment Corp. (NYSE: LGF) high of $7.40. Reaching a new high today as activist investor Carl Icahn increased his bid for the company from $6.50 to $7.50 per share.
- Spreadtrum Communications Inc. (Nasdaq: SPRD) high of $11.61. Could be seeing some substantial upside today as a report today highlights the legitimacy of Spreadtrum Communications SEC filings over China-Biotics Inc. (Nasdaq: CHBT). Note that Barron's had a nice write-up of the Chinese "reverse-merger" market.
- ARM Holdings plc (Nasdaq: ARMH) high of $16.89. Seeing upside today from Intel's (Nasdaq: INTC) acquisition of Infineon's (OTCBB: IFNNY) Wireless business yesterday.
52-Week Low:
- Intel Corporation (Nasdaq: INTC) low of $17.71. As mentioned above, Intel acquired Infineon's Wireless business in a $1.4 billion deal. Shares popped following the company's second quarter earnings report, but the summer doldrums have brought the stock down through July and August.
- Research In Motion Ltd. (Nasdaq: RIMM) low of $43.09. Seeing a pretty good drop today ahead of Apple's conference in California tomorrow, as well as Sprint's (NYSE: S) new 4G offering, the Samsung Epic. The Epic boasts a sliding keyboard as well, which may pose another threat to RIM's new torch phone. Shares have been on a downtrend since the onset of August.
- Winn-Dixie Stores Inc. (Nasdaq: WINN) low of $6.71. Shares lower following the company's Q4 reported EPS of $0.25, 10 cents better than estimates. Revenues were $1.7 billion vs. $1.77 billion consensus. The company also provided FY11 guidance, which may not have blown away Street views.
- Cisco Systems, Inc. (Nasdaq: CSCO) continues to trend lower following disappointing results and guidance in mid-August. Shares are close to falling below the $20 per share level.
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