Notable 52-Week Highs and Lows of the Day 08/16: (PPDI) (KCI) High; (URBN) (VIT) (GURE) Low

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PPDI Hot Sheet

Overall Analyst Rating:
NEUTRAL ( Down

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:

Pharmaceutical Product Development Inc. (Nasdaq: PPDI) high of $33.07. Reports have PPD in takeover talks with Carlyle at $33 to $38 per share. Jefferies issued comments this morning on the rumor. Nothing has been confirmed by either party yet.
Kinetic Concepts Inc. (NYSE: KCI) high of $68.80. Kinetic Concepts has been in "go private" talks for a while now. Today, the rumor mill is generating word that Bain Capital LLC and Avista Capital Partners LLC may make a higher bid for the company. Kinetic already received a $68.50 per share bid from a group led by Apax Partners, amounting to about $6.3 billion. Shares of Kinetic Concepts slipped from highs just over $68 in early July, to about $60, or an 11.7 percent drop within the month.

52-Week Low:

Urban Outfitters, Inc. (Nasdaq: URBN) low of $25.74. Urban Outfitters is dropping today following second-quarter earnings and subsequent conference call. Urban had earnings of 35 cents per share on revenue of $609.2 million, topping views calling for earnings of 32 cents on revenue of $604.3 million. Comps were down 2 percent in the quarter. Click the conference call link for more color on how inventory and expenses have increased.
VanceInfo Technologies Inc. (NYSE: VIT) low of $12.81. Vanceinfo is an earnings mover today, reporting second quarter EPS of 21 cents on revenue of $68.2 million, mixed to the consensus. Vanceinfo guided to third-quarter earnings of 19 to 21 cents per share on revenue of $69 to $72 million, missing views. For fiscal 2011, earnings should be 84 to 90 cents per share on revenue of $275 million, light when compared with Street views calling for earnings of 97 cents per share with revenue of $278.21 million. VanceInfo moved just over 32 percent lower on the results.
Gulf Resources, Inc. (Nasdaq: GURE) low of $2.40. Gulf Resources had second-quarter earnings of 51 cents on revenue of $51.3 million, both strong when compared with the same period last year. Gulf Resources revises its fiscal 2011 revenue guidance lower, from $195 million to $198 million to a range of $156 million to $158 million. It's net income outlook is lowered from $64 to $66 million to a range of $48 million to $49.5 million.
Commonwealth Bankshares Inc. (Nasdaq: CWBS) low of $0.1526. Commonwealth reported second quarter loss of $3.80 per share, down from a loss of 37 cents in the same period last year. Further, from the release, "The Company has engaged two investment banking firms – FIG Partners LLC of Atlanta, Ga., and McKinnon & Company, Inc. of Norfolk, Va. - to explore strategic opportunities to strengthen the Bank's equity position and restore the Bank's capital levels back to a well-capitalized status."
China Ming Yang Wind Power Group Limited (NYSE: MY) low of $3.42. China Ming Yang reported second-quarter earnings of 10 cents per share on revenue of $217.4 million, missing views calling for earnings of 20 cents per share on revenue of $240 million. For the full year of 2011, the Company targets to recognize revenue from WTGs equivalent to wind power projects with a total output of 1.8 to 2.0 GW. Shares fell almost 10 percent to the new low, but have since rebounded.