Notable 52-Week High's and Low's of the Day 09/02: PAR, AKAM, SPRD, MRX High; HERO, PSS 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:
- 3PAR, Inc. (NYSE: PAR) high of 33.84. In the heat of an M&A battle earlier in the day today, shares jumped up to a 52-week high as Dell (Nasdaq: DELL) and Hewlett-Packard (NYSE: HPQ) battled to gain control of the company. HPQ may ultimately win this battle with a $33 per share bid, which caused Dell to drop out of the running, and withdrawal its $32 per share bid. On the bright side, Dell will receive a $72 million break-up fee from 3PAR.
- Akamai Technologies Inc. (Nasdaq: AKAM) high of $50.52. Akami is following the tech sector higher today, following Apple's (Nasdaq: AAPL) conference yesterday, as the company may benefit from Apple's move into streaming more media.
- Spreadtrum Communications Inc. (Nasdaq: SPRD) high of $12.23. Also hitting a new 52-week high as the chipmaker is continuing higher on Intel's (Nasdaq: INTC) acquisition of Infineon's (OTCBB: IFNNY) Wireless business.
- Medicis Pharmaceutical Corp. (NYSE: MRX) high of $29.61. Trending higher following news that the FDA has approved additional dosages of SOLODYN earlier in the week.
52-Week Low:
- Hercules Offshore, Inc. (Nasdaq: HERO) low of $2.05. Saw a large dip earlier in the day on news reports that a Mariner Energy (NYSE: ME) rig had exploded in the Gulf of Mexico. The entire Oil & Gas Drilling sector had taken a hit, but the rig had simply caught fire, and moreover, it was in shallower water. The Coast Guard is reporting an oil sheen in the Gulf about one mile long, however.
- Collective Brands, Inc. (NYSE: PSS) low of $12.62. Trading lower today as they report a Q2 EPS of $0.32, versus the analyst estimate of $0.46. Revs for the quarter were $841.3 million, compared to the estimate of $863.27 million.
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