6 Stocks Dropping to 52-Week Lows in Market Action Today

Wall St. Watchdog reveals information about 6 large-cap stocks that hit 52-week lows in today’s trading.

Bitauto Holdings Lim (NYSE:BITA): The shares closed at $3.71, down $0.02 or 0.54% on the day. They have traded in a 52-week range of $3.65 to $12.71.

Dynegy Inc. (NYSE:DYN): The shares closed at $2.07, down $0.16 or 7.17% on the day. They have traded in a 52-week range of $2.21 to $6.92.

Complete Genomics (NASDAQ:GNOM): The shares closed at $2.42, up $0.03 or 1.26% on the day. They have traded in a 52-week range of $2.36 to $18.55.

Marchex (NASDAQ:MCHX): The shares closed at $4.88, down $0.01 or 0.2% on the day. They have traded in a 52-week range of $4.87 to $10.87.

Nci (NASDAQ:NCIT): The shares closed at $7.70, down $0.1 or 1.28% on the day. They have traded in a 52-week range of $7.70 to $25.24.

Standard Register (NYSE:SR): The restructuring is expected to result in an estimated $45M in annual savings and the elimination of 12% to 15% of its workforce over the next 6 to 9 months. Costs associated with the restructuring program are expected to reduce fourth quarter 2011 earnings by approximately $5.5M, or 11c per share, net of tax. The balance of the costs will reduce 2012 earnings by approximately $1.5M, or 3c per share, net of tax. The Company will also record a non-cash charge to tax expense of $70M-$90M to establish a valuation allowance against certain deferred tax assets, which will reduce earnings per share by $2.40 to $3.10 in the fourth quarter. Additionally, the Company will record a non-cash actuarial loss of approximately $80M to other comprehensive income within equity as a result of actual pension asset performance as compared to actuarial assumptions and liability increases caused by continued declines in the discount rate. The recording of this loss has no impact on 2011 earnings. The shares closed at $2.21, down $0.32 or 12.65% on the day. They have traded in a 52-week range of $2.26 to $3.58.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com