Notable 52-Week Highs and Lows of the Day 06/11: (ARNA) (T) (SKX) High; (ES) (AKS) (X) Low
- Top 10 News for 11/17 - 11/21: Halliburton's Big Buy; Japan Back in Recession; China Cuts Key Rate
- China Cuts Benchmark Rate Amid Weaknening Growth Prospects; Markets React (FXI)
- Dow Chemical (DOW), Third Point Enter Agreement; Four New Independent Directors Added
- Large Cut from OPEC Would Be 'Self-Negating', Says Goldman Sachs
- UPDATE: Volkswagen AG (VLKAY) Will Invest EUR 85.6B Over Next 5Y in Auto Ops - Bloomberg
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.
- Arena Pharmaceuticals (Nasdaq: ARNA) high of $7.23. Arena continues to move higher heading into its PDUFA with the FDA for lorcaserin, expected to take place on June 27th. The recent rapid rise has caused Arena to be well ahead of SMA indicators. including 50- and 100-day averages.
Implied volatility is still below the annual daily average, but creeping higher into the event.
- AT&T (NYSE: T) high of $35.00. AT&T and other U.S. carriers moving higher as Apple (Nasdaq: AAPL) holds its WWDC 2012 this week. One of the more notable aspects of the event so far is the further integration of Siri into just about every new app and device coming out. For a complete summary, click here.
More integration of Siri's voice command will be a boon as data packages will get eaten up, potentially a more lucrative undertaking for the carriers.
- Skechers USA (NYSE: SKX) high of $20.23. Skechers USA higher as Sterne Agee upgraded the stock from Neutral to Buy earlier. The stock has basically been moving higher since crossing over the 50-day SMA in mid-April, with a little pullback following earnings on concerns in Europe.
Shares moved nearly 5 percent on the session to the new mark.
- EnergySolutions, Inc (NYSE: ES) low of $1.55. EnergySolutions fell about 57 percent on the session following reports it is revising its 2012 Adjusted EBITDA guidance to $130 to $140 million, down from the guidance of $150 to $160 million provided with its first quarter financial results on May 9, 2012.
- AK Steel (NYSE: AKS) low of $5.00. Both Goldman Sachs and Dahlman Rose cut ratings on AK Steel, to Sell and Neutral, respectively. Among other things, Goldman cited continuing flat steel prices, high CapEx, and high leverage on its balance sheet. Dahlman also cited the recent weakness in steel prices.
- US Steel Corp. (NYSE: X) low of $18.00. U.S. Steel moving as the sector remains weak. China's largest public steelmaker, Baoshan Steel, said it was cutting prices based on lagging demand for appliances and autos. Cuts were up to $3 per metric ton on July delivery, according to the company.
- Green Mountain Coffee Roasters (Nasdaq: GMCR) low of $21.06. Green Mountain lower on news that grocer Kroger (NYSE: KR) will be releasing its own brand of K-Cup. It wasn't clear whether this was a new partnership, but based on the stock's reaction it might be Kroger waiting for the expiration of Green Mountain's patent on the K-Cup design.
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