R.R. Donnelly, Telenav, Uroplasty Drop to 52-Week Lows in Today’s Trading
R.R. Donnelley & Son (NASDAQ:RRD): R. R. Donnelley & Sons announced that it has been awarded a multi-year multi-million dollar agreement by Metro Inc., a leading grocery and pharmacy chain in Quebec and Ontario with more than 65,000 employees. Under the terms of the agreement, which renews and expands the companies’ relationship, Metro will draw upon RR Donnelley’s Canadian production, distribution and technology platform for its administrative and operational documents. The shares closed at $11.52, up $0 or 0% on the day. They have traded in a 52-week range of $11.50 to $21.34.
Telenav (NASDAQ:TNAV): TeleNav (NASDAQ:TNAV) said it is currently is in discussions related to its contract with Sprint (NYSE:S), one of its largest customers. The contract expires as of December 31, 2012, however Sprint may terminate the obligations related to Telenav’s bundled navigation services beginning July1, 2012, with 30 days prior notice to Telenav. The company believes that these discussions, if successful, will likely result in modifications to the duration, financial terms, and promotion of Telenav’s services offered to Sprint customers under the contract, as well as a significant reduction in revenue from Sprint related to the bundles, beginning in the quarter ending June 30. In the quarter ended December 31, 2011, Sprint represented 38% of the company’s total revenue. Based on uncertainties related to the Sprint contract, the company is not updating its guidance for the full FY12 and investors should not rely upon previous guidance for FY12, the company said. The shares closed at $7.75, up $0 or 0% on the day. They have traded in a 52-week range of $7.54 to $22.07.
Uroplasty (NASDAQ:UPI): JMP Securities downgraded Uroplasty citing weak PTNS revenues. The shares closed at $3.53, down $0.69 or 16.35% on the day. They have traded in a 52-week range of $3.73 to $0.00.
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