Notable 52-Week Highs and Lows of the Day 10/04: (SMBL) High; (BAC) (C) (MGM) Low

October 4, 2011 3:46 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:
  • Smart Balance, Inc (Nasdaq: SMBL) high of $6.22. Smart Balance shares ripping 10.9 percent to a new annual high. The stock really saw buying above the $6.10 per share price level. Volume is nearly double the trailing three-month average on the move higher
52-Week Low:
  • Bank of America Corporation (NYSE: BAC) low of $5.13. Bank of America continues the weakness, shares down 7.2 percent to its new low, after crossing through the $6.00 support level yesterday. BofA fell 25 percent in September, and 16.2 percent in the first two trading sessions of October. Recent global weakness, coupled with BofA aiming to implement a $5 monthly charge for debt-card users has irked some investors and customers.

  • Citigroup, Inc. (NYSE: C) low of $21.40. Citi also feeling a pinch as financials continue to be one of the weakest-performing sectors. European sovereign debt and comments by Fed Chair Ben Bernanke indicating further U.S. economic weakness are adding kindling to the fire. Citi moved 7.4 percent to the new low.

  • MGM Resorts International (NYSE: MGM) low of $7.40. MGM Resorts showed some early weakness Tuesday, as reports had revenue gains slowing in Macau, due in part to a late September typhoon and China's continued efforts to stem inflation. MGM fell 10 percent early, but bounced back and is up about 3 percent heading into the close Tuesday. After revenue grew in the order of 40 to 50 percent year-over-year, growth slowed below 40 percent in September -- to 38.8 percent -- for the first time since January 2011.

  • Kinross Gold Corporation (NYSE: KGC) low of $12.80. Kinross, along with some other mining companies, sees investors exiting as gold prices continued to fall today. Due to gold almost moving in tandem with markets, it appears that it is the first commodity to go should extra cash need to be freed up in order to meet margins. Gold ended $7.2 lower to $1,608.8 per ounce on the Comex.


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