Skullcandy Inc (NASDAQ:SKUL) recently dropped to a new low of $11.79 per share, and has a sharp downward momentum currently. The big issue surfaced on September 14th, when Morgan Stanley (NYSE:MS) dropped the company’s price target from $21 to $15 and gave it an “equal weight” recommendation. Shares fell more than 16 percent, which adds to previous losses and mounting short interest. Forbes claims that Morgan Stanley analyst Jay Sole cited a few indicators that the company’s sales would be threatened in the near future due to competition and reduced average sales costs. He also mentioned his beliefs that Apple’s (NASDAQ:AAPL) new “earpods” would crush Skullcandy’s sales.
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Neuralstem, Inc. (NYSE:CUR) announced today that it is closing a registered direct offering of 7,000,000 shares of its common stock, which are being offered at $1.00 per share. This offering’s gross proceeds were $7,000,000, prior to its deduction of the placement agent fees and other estimated offering expenses payable by Neuralstem.
Rite Aid Corporation (NYSE:RAD): More prescriptions are being filled and sales are rising have assisted Rite Aid Corp. in reporting a narrower fiscal Q2 loss. On Thursday, the company also stated that generic drug introductions and reimbursement rate pressure have forced it to reduce its fiscal 2013 revenue forecast. Also, Rite Aid has reduced the range of its expected loss.
Alpha Natural Resources, Inc. (NYSE:ANR) decided to realign its operations considering the changing global scenario for coal demand. The move’s intention is to reduce operating costs and to strengthen its position in the global metallurgical coal market. This decision validates the announcement it made by the beginning of the year. The streamlining of operation should reduce annual coal production by as much as 16 million tons. 40 percent of the reduction is to come from its high-cost mines in the east, 50 percent from the Powder River Basin, and 10 percent from the decline in quality metallurgical coal production. The company will curtail production to match its sales volumes and to avoid a piling up of coal inventory.
Microsoft (NYSE:MSFT) issued a one-click security workaround for Internet Explorer as a stopgap measure until the company is able to release a full security update for its Web browser. The new “Fix it” solution should assist in protecting Internet Explorer 6, 7, 8, and 9 users from a recently revealed memory corruption issue that numerous security experts have seen in active use. These issues could allow hackers to gain remote access to your system with the same user privileges as you, which includes the ability to install or remove programs, modify files, and create new user accounts.
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