The 52-Week Low Club (AMGN, AU, BGP, HB, IP, JBL, MOT, HOOK, RVBD, SLRY)

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This week felt like a yo-yo of volatility, and frankly that makes it even better that it was a 4-day work week for the stock market.  Despite the huge rally today that was led by the financials, there were plenty of shares that hit the wall of shame on the 52-week low list.  Not all of these closed under their 52-week lows, but the list was far larger than one would guess for the way the market acted today.

  • Amgen (NASDAQ: AMGN) just keeps going and going.  This broke under $40.00 today as life gets uglier and uglier for anemia drugs. Got back above $40.00 late in the day so it doesn’t look like a low close.
  • Anglogold Ashanti (NYSE: AU) bit the dust with gold prices lower again.  Under $31.00 late in the day; prior range $31.88 to $51.35.
  • Borders Group (NYSE: BGP) bit the dust.  Shares fell sharply after its earnings report.  It’s killing the dividend and "reviewing strategic alternatives." Down 35% late in day at $4.56; prior range $6.90 to $24.15.
  • Hillenbrand (NYSE: HB) hit the list too, although this is sellers unloading before it breaks itself into two at the end of the month.  This is likely just sellers getting out ahead of what they think may be an uncertain event.  Shares down close to $48.00 late in day; prior range $48.40 to $69.45.
  • International Paper (NYSE: IP) is now down to under $27.00. Wasn’t this just at $40.00 a few months ago?  Cyclical business, down 2% late at $26.87; prior range $27.44 to $41.57.
  • Jabil Circuits (NYSE: JBL) looked pretty bad today down almost 6% to $11.51 late in day with prior range $12.02 to $26.18.  Trailing P/E still high.
  • Motorola (NYSE: MOT) wouldn’t be fair to leave off the list… again.. shares traded under $9.00.  Carl Icahn has to be furious that he stayed here.  The good news is that croaker-granola got back above prior $9.12 low to $9.20 at 3:30 PM EST.
  • Redhook Ale (NASDAQ: HOOK) fell over 10% and $5.00 is getting farther and farther away with shares at $4.35 late in day; prior low was $4.55… Maybe we should have some Redhook ale this long weekend to help[ them out.
  • Riverbed Tech (NASDAQ: RVBD) traded down to under $15.00 today before recovering.  Shares were at $15.20 late in the day and the prior 52-week trading range was $15.16 to $52.81.
  • Salary.com (NASDAQ: SLRY) is one we should have stuck with on our short-sell call in "10 Stocks Under $10" as it came back down.  Shares down to $6.32 late in day with prior 52-week trading range of $6.37 to $16.32.

Next week is a full week, and you know there will be more 52-week lows being put in regardless of what the market does.  Stay tuned!

Jon C. Ogg
March 20, 2008