Logitech and Marchex Record 52-Week Price Lows in Today’s Trading
Logitech Internation (NASDAQ:LOGI): Cuts FY12 revenue view to $2.3B vs. prior view of ‘about’ $2.4B. The gross margin for the full year continues to be estimated to reach approximately 33%. Lowers FY12 outlook on a weaker Euro and market weakness. Note that FY12 guidance was cut back on Sept. 22, 2011 as well. The shares closed at $7.20, down $0.98 or 11.98% on the day. They have traded in a 52-week range of $7.17 to $20.11.
Marchex (NASDAQ:MCHX): Piper Jaffray views the recent pullback in Marchex shares and the company’s weaker than expected FY12 revenue guidance as a buying opportunity. The firm notes Marchex has $3 per share in cash and a growing core click-to-call business. Piper lowered its price target for shares to $8 from $11 but keeps an Overweight rating on the stock. The shares closed at $4.44, down $0.44 or 9.02% on the day. They have traded in a 52-week range of $4.80 to $10.87.
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