RF Micro Devices and PriceSmart Among Stock Price Decliners
Occasionally, shareholders are spooked with much bigger stock price declines than anticipated. The markets did not budge much today, but the following companies saw their stock prices hammered by investors due to negative news. Here’s the skinny:
PriceSmart, Inc. (NASDAQ:PSMT): PriceSmart closed at $60.63, down $9.95, or 14.1 percent. Their 52-week trading range has been $31.20 to $78.71. PriceSmart was pounded today after missing first quarter estimates and a decline of 5.8 percent in year-over-year net income. Better overall sales were hampered by being unable to increase prices to off set noticeably higher operating expenses.
RF Micro Devices, Inc. (NASDAQ:RFMD): RF Micro closed at $4.54, down $1.1, or 19.5 percent. Their 52-week trading range has been $4.95 to $8.48. Kaufman lessened its target on RF Micro following the company’s preannouncement of more anemic than predicted Q3 revenue. But, Kaufman maintains that RF Micro’s gross margins are close to or at their lowest, and retains a Buy rating on the stock.
Family Dollar Stores, Inc. (NYSE:FDO): Family Dollar closed at $53.63, down $4.33, or 7.47 percent. Their 52-week trading range has been $41.31 to $60.53. First quarter gross margins shrank, but Citi says FDO can “more than offset the deterioration through better SG&A leverage,” and points to “the closing of its performance gap vs. Dollar General (NYSE:DG) in both sales per square foot and EBIT margin.”
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD): Ironwood closed at $10.78, down $1.2, or 10.02 percent. Their 52-week trading range has been $9.97 to $16.50.
Deutsche Bank AG (NYSE:DB): Deutsche Bank closed at $34.26, down $1.97, or 5.44%. Their 52-week trading range has been $28.57 to $66.00.