PDL BioPharma Inc. (NASDAQ: PDLI) dropped more than 11% on Tuesday to establish a new 52-week low at $6.52 against a high of $10.26. Volume was about 3-times the daily average of around 2.7 million shares. The company missed earnings and revenues estimates last night and the stock got punished today.
Rocket Fuel Inc. (NASDAQ: FUEL) posted a new 52-week low on Tuesday. Shares dropped about 5.2% to $9.48 from Monday’s closing price of $10.00. The stock’s 52-week high is $59.62. Volume is about 3-times the daily average of around 800,000 shares. The digital advertising company continues to get pounded over last week’s poor quarterly results announcement.
ARMOUR Residential REIT Inc. (NYSE: ARR) dropped about 2% on Tuesday to post a new 52-week low of $3.05 after closing at $3.11 on Monday. The stock’s 52-week high is $4.46. Share volume was about equal to the daily average of around 3.9 million shares traded. The real-estate investment trust had no specific news today, and the stock did a U-turn, rising more than 1% by late afternoon.
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) dropped about 2.2% on Tuesday to post a new 52-week low of $50.10 after closing at $51.25 on Monday. The stock’s 52-week high is $124.42 Share volume was about equal to the daily average of around 2.5 million shares traded. The China-based Internet and mobile services company had no specific news today.
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