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Notable 52-Week Highs and Lows of the Day 03/16: (PANL) (GLNG) (PAY) High; (YRCW) (UMC) (BNVI) Low

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March 16, 2011 3:32 PM EDT
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:
  • Universal Display Corp. (Nasdaq: PANL) high of $46.00. Moving strong on an overall negative day for the markets, following a fourth quarter earnings report out of the company that had a loss of $0.14 on revs of $10.8 million, beating the consensus calling for a loss of $0.07 with revs of $7.45 million. Investors buying in and sending shares over 20% higher.

  • Golar LNG Ltd. (Nasdaq: GLNG) high of $22.67. Moving higher today as GLNG could be a play on Japan energy. The island nation made need to find alternative energy sources as several nuclear reactors are failing following the devastating earthquake that happened late last week. Nat gas and solar power were pegged as the two top choices, though the hullabaloo may soon fade as Japan works to restore power and safety to their plants.

  • VeriFone Systems, Inc (NYSE: PAY) high of $52.77. Not too sharp of a move today, but positive sentiment as to a potential revenue boost for the company should Google (Nasdaq: GOOG) expand or implement their current project of testing mobile payment systems. Shares closed 7.4% higher yesterday.

  • ADA-ES, Inc. (Nasdaq: ADES) high of $17.25. Surprise jump today as the company could see upside following passage of the EPA's proposed Mercury and Air Toxics Standards legislation. ADA-ES produces activated carbon and other products used to control and mitigate environmental pollution.
52-Week Low:
  • YRC Worldwide Inc. (Nasdaq: YRCW) low of $1.4371. Continuing lower today following a 13.5% decline yesterday. Monday night the company announced that it missed a restructuring milestone. From the filing, the milestone had a failure because the "Pension Fund Condition was not satisfied by the required date, and, as a result, the Required Lenders have the right, but not the obligation, to declare an event of default under the Credit Agreement. We believe the Milestone Failure occurred principally as a result of the Majority Funds including in their nonbinding agreement to the terms of the Term Sheet their intent to seek a significant increase in the interest rate payable on the Pension Note in connection with the definitive documents regarding the Restructuring, and such nonbinding agreement was not acceptable to certain of the Consenting Parties. The Required Lenders have not indicated that they intend to declare an event of default under the Credit Agreement, and we are continuing to work with the parties to satisfy the Documentation Condition. As of March 14, 2011, the Agent does not recommend declaring an event of default at this time in respect of the Milestone Failure. We cannot provide any assurance that the Required Lenders will not declare an event of default under the Credit Agreement."

  • United Microelectronics Corporation (NYSE: UMC) low of $2.49. Amid overall weakness in the tech sector today, UMC disclosed several updates, including Japan operations, and several machinery acquisitions. The SEC filing can be accessed here.

  • Bionovo, Inc. (Nasdaq: BNVI) low of $0.52. Lower today following a fourth quarter report that saw a loss of $0.18 per common share on revs of $531 thousand, versus the consensus loss of $0.22 and revs of $50 thousand.

  • Energy Conversion Devices, Inc. (Nasdaq: ENER) low of $2.21. Lower on a downgrade at Morgan Stanley from Equalweight to Underweight, setting a $1 price target on the stock. Shares moved over lower on the call.

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