State Street and Apollo Group Among Major Stock Price Losers Today
As the DJIA, S&P and Nasdaq all ended in the green and back at July 2010 levels today, some companies were dealt a dose of negative news. Here are the companies having a bad day on Wall Street:
Apollo Group, Inc. (NASDAQ:APOL): Morgan Stanley sees an educational opportunity. While reports have indicated President Obama has for profit education companies in his sites, action doesn’t seem plausible. The firm says buy Apollo Group and DeVry (NYSE:DV) on the pullback. Shares closed at $54.03, down $3.67, or 6.36 percent. Their 52-week trading range has been $37.08 to $58.29.
Genon Energy Inc (NYSE:GEN): UBS uses the Cross-State Air Pollution Rule (CSAPR) stay and coal price declines to downgrade GenOn. The firm cut target cut from $3 to $2. Shares closed at $2.14, down $0.22, or 9.32 percent. Their 52-week trading range has been $2.30 to $4.35.
Fulton Financial Corp. (NASDAQ:FULT): Non-performing loans are on the decrease at Fulton. Reporting fourth quarter results down $24.1 million or 7.8 percent from the third quarter of 2011 and down $42.2 million or 12.8 percent from the end of 2010. Shares closed at $9.77, down $0.77, or 7.31 percent. Their 52-week trading range has been $7.18 to $11.91.
State Street Corporation (NYSE:STT): State Street expects global markets will continue weakening as it missed earnings. The corporation announced more cuts for its capital market-operations. Shares are down despite operating profit rising 4.4% to $454M. Shares closed at $39.95, down $2.8, or 6.55 percent. Their 52-week trading range has been $29.86 to $49.17.
Cash America International, Inc. (NYSE:CSH): Cash America warns of earnings-per-share miss. The company is down after blaming higher credit costs and smaller margins for the earnings shortfall. Saying time is needed before conditions bounce back to normal, FBR cut CSH to Market Perform. Shares closed at $41.50, down $2.6, or 5.9 percent. Their 52-week trading range has been $38.65 to $62.33.
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