Southwestern Energy, XCO and Richardson Electronics Hit New Lows
Markets gradually ticked higher with caution as big earnings announcements are setting the stage for future market volatility next week. Here are the companies that were smacked by investors and traders hitting the sell button today:
XCO Resources Nl (NYSE:XCO): Another victim of mild weather and a 3 percent drop in natural gas prices. The shares closed at $8.54, down $0.37 or 4.15 percent. Their 52-week trading range had been $8.59 to $21.04.
Southwestern Energy (NYSE:SWN): RW Baird downgrades Southwestern Energy to Neutral. Natural gas prices hurt again as the firm downgrades SWN from Outperform to Neutral and lowers price from $45 to $39. The shares closed at $29.77, down $0.15 or 0.5 percent. Their 52-week trading range had been $29.81 to $49.25.
Richardson Electronics (NASDAQ:RELL): Richardson Electronics sees Q3 revenue $40M-$42M vs. consensus $43.55M. Richardson Electronics sees FY12 revenue $165M-$170M vs. consensus $172.49M. The shares closed at $12.19, up $0.13 or 1.08 percent. Their 52-week trading range had been $11.56 to $15.40.
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