Adobe and 2 S&P 500 Stocks Getting Hammered
The S&P 500 (NYSEARCA:SPY) is down today by 3.42% and stands at 1,232.27. Here are three notable and stocks that are experiencing large declines today.
Computer Sciences Corporation (NYSE:CSC): Computer Sciences’ bad year gets worse thanks to the guidance cut attached to its FQ2 report. Blaming “federal budget uncertainty” and one-time charges, the company now expects FY12 revenue of $16.5B-$16.7B and EPS of $4.05-$4.10, compared with prior guidance of $16.5B-$17B and $4.70-$4.80. The shares recently traded at $28.08, down $4.89, or 14.83%. They have traded in a 52-week range of $25.60 to $56.61. Volume today was 3,633,819 shares versus a 3-month average volume of 2,431,100 shares. The company’s trailing P/E is 5.63, while trailing earnings are $4.99 per share.
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Alpha Natural Resources, Inc. (NYSE:ANR): ANR is getting dumped as energy stocks plummet on weak markets. The shares recently traded at $26.21, down $2.49, or 8.68%. They have traded in a 52-week range of $15.49 to $68.05. Volume today was 11,287,663 shares versus a 3-month average volume of 9,528,540 shares. The company’s trailing P/E is 89.76, while trailing earnings are $0.29 per share.
Adobe Systems Incorporated (NASDAQ:ADBE): Adobe says it will stop developing Flash for mobile browsers, caving into criticism that Flash is too unstable for smartphones and tablets. It’s a defeat for Adobe vs. Apple (NASDAQ:AAPL) in their long-running battle since Steve Jobs refused to allow Flash on iPhones and iPads, and means that developers may stop using Flash tools to produce video, websites and applications for delivery over mobile browsers. The shares recently traded at $27.93, down $2.49, or 8.19%. They have traded in a 52-week range of $22.67 to $35.99. Volume today was 23,995,279 shares versus a 3-month average volume of 7,320,350 shares. The company’s trailing P/E is 15.30, while trailing earnings are $1.83 per share.