Investing
52-Week Low Club (CC, DBD, FIC, GTOP, IMB, MSSR, RECN, MU, RT, STI)
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Some of these recovered off lows but here are some of the more active stocks that hit 52-week lows today:
- Circuit City (NYSE: CC)… after posting wider losses and then forecasting a loss next quarter. Even losers like them, how does a retailer lose money over Christmas????
- Diebold (NYSE: DBD) hit a new 52-week low on a "continuing dialog" with Office of The Chief Accountant and a D.O.J. investigation into related matters.
- Fair Isaac (NYSE: FIC) people keep asking us if FIC is the next implosion in being tied to system-wide credit woes.
- Genitope (NASDAQ:GTOP) hit the FUBAR button after failing to meet endpoints in PHASE III. With no revenues it’s close to biotech zombie status.
- IndyMac Bancorp (NYSE:IMB) recovered but its subprime woes remain.
- McCormick & Schmicks (NASDAQ:MSSR)… steakhouse sales soft in weak consumer economy. Don’t you think the private equity firms wish they could sell those steakhouses back now????
- Resource Connection (NASDAQ:RECN)… too few resources? Nope, it gave employees an extra week off of paid vacation. Those employees are some lucky SOB’s for that, but shareholders "NOT SO MUCH!!!"
- Micron Tech (NYSE: MU) after a piss poor earnings report. Trivia Question: Is there a worse technology business than DRAM? It’s just like trading a commodity except the prices never seem to go up!
- Ruby Tuesday (NYSE:RT) after a downgrade and an earnings warning, mid-level restaurant spending is weak and they don’t offer very much special.
- SunTrust (NYSE:STI) weak again. Maybe Buffett wishes he stayed away.
Jon C. Ogg
December 21, 2007
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