Notable 52-Week Highs and Lows of the Day 12/27: (BAC) (RDN) (PPG) High; (MRVL) (BBY) (KSS) 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.
- Bank of America Corp. (NYSE: BAC) $11.69. BofA had enough juice at the start to hit a new annual high today. Shares are up over 100 percent for 2012, though there is still two trading days left before 2013.
- Radian Group Inc. (NYSE: RDN) high of $5.79. Radian also positive at the start before fiscal cliff rhetoric began. Shares moved higher on home price gains earlier in the week.
- PG Industries (NYSE: PPG) high of $136.79. PPG commenced its exchange offer related to the split-off transaction of its commodity chemicals business. For more color, click here.
- Chemtura Corporation (NYSE: CHMT) high of $21.69. Chemtura getting a boost as Longbow Research boosted its rating from Neutral to Buy earlier, setting a price target of $26.
- Marvell Technology (Nasdaq: MRVL) low of $6.98. Marvell slammed following an adverse patent verdict issued late Wednesday. The company will end up pay about $1.169 billion in damages. For more on the litigation, click here.
- Best Buy Co., Inc. (NYSE: BBY) low of $11.20. Markets are pressuring Best Buy below the $11.50 level today. Data earlier in the week hinted to slower-than-expected holiday sales growth in 2012, which isn't helping retailers as a whole. Volume on today's session is also lighter than average, about 3.3 million shares being traded this afternoon versus 8.7 million on average.
- Kohl's Corp. (NYSE: KSS) low of $42.04. As mentioned, holiday sales haven't been stellar this year. Generally, retailers like Kohl's, Macy's (NYSE: M), and others hire loads of extra help for the holidays. Those extra costs are likely to show up in quarterly results moving forward. In addition, investors are shifting back over to rival JCPenney (NYSE: JCP) as the shift in CEO Ron Johnson's strategy appears to be taking hold. JCPenney was the only retailer in the green for most of the session Wednesday.
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