Notable 52-Week Highs and Lows of the Day 06/07: (LAVA) (ELN) (ZLC) High; (TLB) (PMI) (IRE) 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:

• Magma Design Automation Inc. (Nasdaq: LAVA) high of $7.67. Magma reported a new partnership with Fraunhofer Institute for Integrated Circuits IIS to develop process-independent Titan™ FlexCell models of the Institute's analog intellectual property (IP) cores. Through the partnership, Magma will provide Fraunhofer IIS with access to Titan analog design accelerators and FineSim SPICE simulation technology and will assist in creating models of complex analog macro cells, including analog-digital converters (ADC). Magma is up well over 10 percent to the new mark today.
  
  
• Elan Corp. plc (NYSE: ELN) high of $10.06. Ripping today as Jefferies issued a bullish report for Elan. Jefferies is maintaining its Buy rating and $12 price target on the shares. Shares moved 7.4 percent to the new high.
  
  
• Zale Corporation (NYSE: ZLC) high of $6.75. Rumors today were that peer Tiffany & Co. (NYSE: TIF) might have received a takeover bid from Cartier owner Richemont. The rumor was a questionable one, with no firm sources.

52-Week Low:

• The Talbots, Inc. (NYSE: TLB) low of $2.62. Talbots issued a first-quarter earnings beats, adjusted net income of 8 cents per shares versus a 5 cent consensus, though sales missed the mark. However, Talbots sees second quarter sales and gross margins "significantly below the same period last year." Investors couldn't exit the stock fast enough, sending shares 40.7 percent lower to the new mark.
  
  
• PMI Group Inc. (NYSE: PMI) low of $1.25. PMI has seen a rough 2011 so far, now shares are lower as Susquehanna started coverage on the company with a Negative rating and 50 cent price target. The stock fell over 11 percent to the new mark today.
  
  
• The Bank of Ireland (NYSE: IRE) low of $1.20. European Commission President Jose Manuel Barroso said that a deepening crisis in Greece might affect Ireland's ability to come back into the financial markets next year. "We have seen in the past that, in fact, sometimes the markets react not only to a situation in one country, but they make some kind of generalization, and so in fact some risks exist," Barroso told reporters."We have seen in the past that, in fact, sometimes the markets react not only to a situation in one country, but they make some kind of generalization, and so in fact some risks exist," Barroso told reporters.

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