Southwestern Energy and Hecla Mining Among Stocks Dropping to 52-Week Lows Today
As the U.S. financial markets ended Wednesday flat during a quiet start to earnings season, investors and traders looking to specific companies for news on how to trade specific sectors today. Here are some companies that saw low points for their stock price due to the respective news released:
Hecla Mining Company (NYSE:HL): Hecla Mining plunges rapidly after dropping its forecast for 2012 silver production from to 9.5 million to 7 million ounces. The outlook change came as its Lucky Friday silver mine was shut down by the Mine Safety and Health Administration. Activities at the mined had ceased since November. The shares closed at $4.61, down $1.23 or 21.06 percent. Their 52-week trading range has been $4.82 to $11.08.
Southwestern Energy (NYSE:SWN): Baird drops Southwestern to Outperform on valuation. Baird probably reacted to turbulent gas prices, but the company has drained 32 percent of value since October. The shares closed at $29.92, down $2.59 or 7.97 percent. Their 52-week trading range has been $30.94 to $49.25.
UniTek Global Servic (NASDAQ:UNTK): UniTek Global Services Board of Directors leadership changes. Chief Executive Officer (NYSE:CEO) C. Scott Hisey and President and Chairman of the Board Peter Giacalone have resigned from the company. The resignations were by mutual agreement and effective immediately. Mr. Giacalone also resigned from UniTek’s Board of Directors, but Mr. Hisey will remain a Board member and continues with the company as a special consultant. Mr. Hisey will assist with the leadership transition, provide liaison to customers, and participate in business development.
The board has decided that an interim Office of CEO will be co-managed by Dan Yannantuono, CEO of DirectSat, a division of UniTek, and Ronald J. Lejman, CFO and treasurer of UniTek and has launched a search for a new permanent CEO. The shares closed at $3.40, down $1.15 or 25.27 percent. Their 52-week trading range has been $3.84 to $10.65.
Exco Resources Nl (NYSE:XCO): An unusually warm winter in the Northeast combined with shale production send gas prices to their lowest in ten years, down 7.8 percent to $2.77. Bank of America/Merrill rates EXCO Resources an underperform with a target of $11. The shares closed at $8.91, down $0.27 or 2.94 percent. Their 52-week trading range has been $9.15 to $21.04.
NRG Energy (NYSE:NRG): The shares closed at $17.59, down $0.04 or 0.23 percent. Their 52-week trading range has been $17.41 to $25.66.
Further Reading: Mergers and Acquisitions: Apple Buys Anobit, Blackstone JV>>
To contact the reporter on this story: Jim Wilkerson at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org