5 Sinking Stocks Disappointing Investors at 52-Week Lows This Week
Acacia Research Corp (NASDAQ:ACTG) announced that its Program Rewards Solutions subsidiary has entered into a settlement agreement with Citigroup (NYSE:C). The agreement is intended to resolve litigation which was pending in the United States District Court for the Southern District of New York. The shares closed at $28.31, down $3.19 or 10.13% on the day. They have traded in a 52-week range of $28.32 to $47.24.
Don’t Miss: Apple Reaches Court In ATTACK Mode.
Avx Corp. (NYSE:AVX), an alleged legal predecessor company, made liquid-filled capacitors adjacent to harbor. AVX has never produced liquid filled capacitors in the past. AVX is in mediation with EPA as well as other agencies to resolve the issue. The shares closed at $9.74, down $0.67 or 6.44% on the day. They have traded in a 52-week range of $10.00 to $14.33.
Castle [A.M.] & Co. (NYSE:CAS) reports a Q2 adjusted EPS of 11c, consensus 29c. The shares closed at $7.29, down $1.42 or 16.3% on the day. They have traded in a 52-week range of $7.85 to $17.55.
Electronic Arts Inc. (NASDAQ:EA) has announced that Blake Jorgensen will be the company’s Executive Vice President and CFO. Jorgensen is to report directly to CEO John Riccitiello and will be responsible for the global financial operations of the company. He is scheduled to begin at EA during early September 2012. Jorgensen joins EA following his service as Executive Vice President and CFO for Levi Strauss & Co. since July 2009. The shares closed at $11.02, down $0.21 or 1.87% on the day. They have traded in a 52-week range of $10.86 to $26.13.
Facebook Inc (NASDAQ:FB) states, “Due to the gross mishandling of Facebook’s (NASDAQ:FB) market debut by NASDAQ (NASDAQ:NDAQ) we recorded a loss of CHF 349 million in our US Equities business as a result of our efforts to provide best execution for our clients. As a market maker in one of the largest IPOs in US history, we received significant orders from clients, including clients of our wealth management businesses. Due to multiple operational failures by NASDAQ, UBS’s pre-market orders were not confirmed for several hours after the stock had commenced trading. As a result of system protocols that we had designed to ensure our clients’ orders were filled consistent with regulatory guidelines and our own standards, orders were entered multiple times before the necessary confirmations from NASDAQ were received and our systems were able to process them. NASDAQ ultimately filled all of these orders, exposing UBS to far more shares than our clients had ordered. UBS’s loss resulted from NASDAQ’s multiple failures to carry out its obligations, including both opening the Facebook stock for trading and not halting trading in the stock during the day. We will take appropriate legal action against NASDAQ to address its gross mishandling of the offering and its substantial failures to perform its duties.” The shares closed at $21.71, down $1.44 or 6.22% on the day. They have traded in a 52-week range of $22.28 to $45.00.
Don’t Miss: Facebook is PLUMMETING!
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