Nokia Corp. (NYSE: NOK) dropped about 12.8% on Thursday to post a new 52-week low of $6.53 against a high of $8.73. The stock closed at $7.49 on Wednesday night. Volume was nearly 3-times the daily average of around 25 million shares. The company reported earnings that were okay today, but investors and analysts have concerns about the network division where profits fell by 60%.
CTC Media Inc. (NASDAQ: CTCM) also posted a new 52-week low on Thursday. Shares dropped 19% to $3.45 from Wednesday’s closing price of $4.26. The stock’s 52-week high is $11.51. Volume is nearly 4-times the daily average of around 530,000 shares. The Russian media company suffered a 50% drop in profits and shareholders a 100% drop in their second quarter dividend.
MannKind Corp. (NASDAQ: MNKD) dropped about 7.6% on Thursday to post a new 52-week low of $4.23 after closing at $4.58 on Wednesday. The stock’s 52-week high is $11.48. Share volume was about 70% above the daily average of around 5.4 million shares traded. The company’s Afrezza drug continues to see declining sales.
Yelp Inc. (NYSE: YELP) dropped more than 24% on Thursday to post a new 52-week low of $38.75 after closing at $51.28 on Wednesday. The stock’s 52-week high is $86.88. Share volume was more than 7-times the daily average of around 3.2 million shares traded. The local business business guide company missed estimates on its local advertising revenue and the stock got punished today.
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