Dreamworks Animation SKG Inc. (NASDAQ: DWA) posted a new 52-week low on Friday of $18.30. Based on Thursday night’s closing price of $21.31 that’s a drop of about 14%. The stock’s 52-week high is $35.37. Volume is about 4-times the daily average of around 1.4 million shares. The company fired 500 employees on Thursday and cut its new films release schedule.
LeapFrog Enterprises Inc. (NYSE: LF) dropped nearly 36% on Friday to post a new 52-week low of $2.51. The stock’s 52-week high is $7.87. Volume was was about 10-times higher than the daily average of 1.2 million shares. The toymaker yesterday lowered its third fiscal quarter guidance.
Ocwen Financial Corp. (NYSE: OCN) dropped about 26% on Friday to establish a new 52-week low at $5.67 against a high of $47.76. Volume was more than 3-times the daily average of around 5.9 million shares. A hedge-fund has announced that it is shorting the Ocwen’s stock and that of affiliate Home Loan Servicing Solutions Ltd (NASDAQ: HLSS) and delivered a default notice against a receivables trust that is a primary funding source for Ocwen.
United States Steel Corp. (NYSE: X) dropped 9% on Friday to post a new 52-week low of $20.66 after closing at $22.71 on Thursday. The stock’s 52-week high is $46.55. Share volume was nearly double the daily average of around 7.2 million shares traded. The steelmaker was hit following a cut by Goldman Sachs to the firm’s iron ore forecast.
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