Tiffany and 3 Popular Stocks Bombing to 52-Week Lows
MakeMyTrip Limited (NASDAQ:MMYT): Despite positive news for U.S.-based online airline companies like Expedia, India-based MakeMyTrip is struggling to keep its shares up. The company provided FY213 revenue less service costs growth guidance in the range of 30%-32%, and with the current Q1 average exchange rate of INR 53 to $1, a revenue less service cost guidance of about $103M-$106M is in store. MakeMyTrip shares dipped 7.93% on the day to $15.55, and they have traded in a 52-week range of $16.06 to $33.90.
NetApp (NASDAQ:NTAP) has suffered much in the past year, as it provided significantly weaker than expected guidance for the first quarter of fiscal 2013 and has decided not to provide full-year guidance for 2013 due to the uncertain macro environment. Brean Murray downgraded NetApp’s shares to Hold, citing concerns about revenue visibility and operating expenses, and Needham remains bullish, commending the company’s Asia-Pac and U.S. commercial businesses but recognizing its weak defense and financial services. NetApp shares closed at $28.82, down 12.29% on the day and have traded in a 52-week range of $31.94 to $56.49.
Research In Motion (NASDAQ:RIMM): With the rise of Apple’s iPhones and various Google Android devices, Research in Motion’s BlackBerry devices are becoming less popular, as are RIM stocks. The popularity of BlackBerry Messenger–one of BlackBerry devices’ hallmarks–is also going down, though the company has reported it does not plan on licensing out the feature. RIM shares fell 3.43% to $10.71 and have traded in a 52-week range of $10.80 to $48.95.
Tiffany & Co. (NYSE:TIF): Under a still suffering economy, a new MasterCard study confirmed the trend of slowing luxury spending, something that has been reflected in earning reports from jewelry sellers Tiffany & Co. and Signet Jewelers. Both companies saw only a 1.8% increase in April after a 6.7% Q1 gain, and analysts say the non-cyclical wealth effect is not working against economic headwinds. Tiffany shares dropped 6.81% on the day to close at $57.59, and they have traded in a 52-week range of $56.21 to $84.49.
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