S&P 500 Losers: Sprint and 2 Stocks Deep in the Red
The S&P 500 (NYSEARCA:SPY) is down by 0.20% today and stands at 1,344. Here are three notable stocks that are experiencing large declines today.
Sprint Nextel (NYSE:S) is offering so many subsidies selling Apple’s (NASDAQ:AAPL) IPhone, the telecom carrier actually increased quarterly losses. However, the company insists gains will come down the road with multi-year contracts. S shares recently traded at $2.39, down $0.06, or 2.45%. They have traded in a 52-week range of $2.10 to $6.45. Volume today was 83,862,635 shares versus a 3-month average volume of 36,467,900 shares. The company’s trailing earnings are $-0.84 per share.
Western Union (NYSE:WU): In the most recent earnings report, Western Union has reduced expectations for 2012 by predicting a return of $1.70-$1.75. The consensus is 1.80. Jeffries sees the downturn as a buying opportunity, as valuations are attractive. WU shares recently traded at $18.12, down $1.58, or 8.02%. They have traded in a 52-week range of $14.55 to $22.03. Volume today was 20,482,025 shares versus a 3-month average volume of 5,174,140 shares. The company’s trailing P/E is 12.12, while trailing earnings are $1.49 per share.
CBRE (NYSE:CBG): Yesterday’s post-market report was a downer. Net profits fell 16%, margins shrank, and leasing revenue from the Americas was down. CBG shares recently traded at $18.07, down $1.19, or 6.18%. They have traded in a 52-week range of $12.30 to $29.88. Volume today was 5,033,839 shares versus a 3-month average volume of 4,532,020 shares. The company’s trailing P/E is 22.97, while trailing earnings are $0.79 per share.
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