Facebook, Sony, and 3 Top Stocks Slamming to 52-Week Lows
Facebook Inc (NASDAQ:FB): More disappointing news came in for Facebook, as the company received its second request from the FTC for information on its proposed acquisition of Instagram, Reuters reported. This came along with news that Kayak Software–whose underwriter Morgan Stanley was the same as Facebook’s–is delaying its IPO following Facebook’s disappointing initial trading. facebook shares dipped 2.25% to $28.19, and they have traded in a 52-week range of $28.65 to $45.00.
Panasonic Corp. (NYSE:PC): A slumping Olympus Corp may soon have new stakeholders–Sony Corp. or Panasonic. The company announced it will cut 2,500 jobs and sell an equity stake to one of the two companies in an attempt to bolster its finances, Reuters reported, citing local media. Despite this, Panasonic shares fell 3.87% to close at $6.45. They have traded in a 52-week range of $7.59 to $12.67.
Skywest (NASDAQ:SKYW): SkyWest entered a deal to sell its 26% stake in Trip Linhas to Trip Investimentos for $42M, and as part of the deal, SkyWest can acquire 15.38% of Trip Investimentos at its discretion. Though the news was not necessarily bad, SkyWest shares fell 3.16% on the day to close at $7.06. They have traded in a 52-week range of $7.15 to $15.54.
Sony Corp (NYSE:SNE): Even Men in Black 3 couldn’t bring back Sony Corp.’s falling stock. IMAX announced that the movie took in $12.7M for Sony over the Memorial Day opening weekend, as it broke a box office record for the holiday weekend for Sony’s movie studio. Even with the good news, Sony shares dropped 3.84% on the day to close at $13.03. They have traded in a 52-week range of $13.24 to $27.32.
Banco Santander S.A. (NYSE:STD): Rumors have surfaced recently about Banco Santander, and even denials haven’t stopped the shares from dropping. Banco Santander’s Brazilian unit president denied reports that the bank is planning to sell an equity stake to one of its competitors, citing that the bank “does not need capital.” Brazilian banks mentioned as buyers are also denying the rumors. Banco Santander shares closed at $5.25, down 2.6% on the day. They have traded in a 52-week range of $5.34 to $11.89.
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