52-Week Stock Price Blues: Nokia, Matador, Patriot Coal, RIMM, Saic Inc.
A few companies faced the pain of selling and recorded 52-week stock price lows on May 15th. Here’s the latest insight into what is happening at each particular company:
Nokia Corp. (NYSE:NOK): In its continued move to speed up plans for getting the next billion information and internet consumers connected, Nokia has debuted two new mobile phone models—the Nokia 110 and Nokia 112. Both were created for youth appeal and to provide a speedy, affordable means of being mobile and online (both are crafted to suit social media networks, and both boast the Nokia Browser). Shares of Nokia closed yesterday at $2.89, down 5.25% (or $0.16) on the day, and have traded in a 52-week range of $3.01-$8.63. Shares are trading at $2.88 today.
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Matador Resources (NYSE:MTDR) has reaffirmed predicted capital spending of $313M, approximate total oil production of 1.4M-1.5M Bbl, estimated oil production exit rate of 5,000-5,500 Bbl per day, and 4 predicted total natural gas production of 12.5-13.5 billion cubic feet. Matador shares closed at $10.04, down $0.26 or 2.52% on the day. They have traded in a 52-week range of $10.06 to $12.33. Shares are trading at $9.40 today.
Patriot Coal Corp. (NYSE:PCX) will be reassessing its outlook supplied in a May 8 press release. Due to developments of late concerning the possible default of an essential customer, Patriot (in respect to its currently priced tons of Appalachia met coal) amends its expected sales volume and average selling price as follows: current spot market price for this grade of high volatile coal is around $25-$30 per ton lower than the earlier contracted price with that customer. Patriot shares closed at $3.94, down $0.89 or 18.43% on the day, and have traded in a 52-week range of $4.82 to $27.12. Shares are trading at $3.77 today.
Research In Motion (NASDAQ:RIMM): Based on data from Kantar WorldPanel, Reuters reports, pressure on Research in Motion and Nokia has been elevated by Google’s (NASDAQ:GOOG) Android smartphone software advancing its market lead in 2012 (thanks in part to new Samsung and HTC models). Shares of RIMM closed at $11.10, down $0.7 or 5.93% on the day, having traded in a 52-week range of $11.55 to $48.95. Shares are trading at $11.27 today.
Saic Inc (NYSE:SAI): The U.S. Space and Naval Warfare Systems Center Atlantic has given Science Applications International a prime contract to supply engineering and prototyping integration, software integration, and technical support services for tactical vehicles. The final value of the contract is around $698M if all options are taken, and most work will occur in Charleston, S.C. Shares of Saic closed at $11.00, down $0.09 or 0.81% on the day. They have traded in a 52-week range of $11.03 to $17.59. Shares are trading at $11 flat today.
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