Categories Other Industries, U.S. Markets News

April 16: Top 52-week highs and lows of the day

Medical device maker AngioDynamics Inc. (ANGO) touched a new yearly high of $20.35 on Monday. According to a Market Insights Reports study, the future of the global radiofrequency ablation devices market is expected to remain highly competitive and diversified due to the presence of a large number of vendors. Some institutional investors have also raised or reduced their stakes in AngioDynamics.

Shares of Apellis Pharmaceuticals (APLS), a clinical-stage biopharmaceutical company, hit a new 52-week high of $32 after it provided an update on the study of patients with paroxysmal nocturnal hemoglobinuria who were not treated with Eculizumab. The interim data showed broad hematologic correction including improved hemoglobin and reduction in lactate dehydrogenase.

Communications company Comtech Telecommunications (CMTL) reached a new yearly high of $31.86 after its Comtech EF Data subsidiary received a $59.0 million strategic contract from the U.S. Naval for next-generation satellite earth-station equipment. Also, the company will begin trading ex-dividend on April 17 as its board declared a quarterly dividend of $0.10 per share. The dividend is payable on May 18 to shareholders of record on April 18.

Shares of Callon Petroleum (CPE), an independent oil and natural gas company, touched a new yearly high of $13.43 after a report showed that oil weighted stocks could gain 85.7% growth in near-future. On April 11, crude oil May futures closed at $66.82 per barrel, the highest closing since December 2, 2014, and Brent crude June futures ended at $72.06 per barrel, the highest closing since December 1, 2014.

The nation’s third-largest oil company ConocoPhillips (COP) hit a new 52-week high of $65.99 on Monday after it has concluded its 2018 winter exploration and appraisal program in Alaska. The company drilled a total of six wells instead of five and achieved encouraging results from the five production flow tests.

Acacia Communications Inc. (ACIA), a provider of high-speed coherent optical interconnect products, fell to a new yearly low of $24.72 on Monday after the U.S. Department of Commerce banned American companies from selling, exporting or re-exporting components, software, and technology to Chinese telecom equipment maker ZTE Corp., with immediate effect. Acacia said it is taking steps to suspend affected transactions and is assessing the impact of these developments on Acacia.

Apricus Biosciences Inc. (APRI), which was formerly known as NexMed, plunged to a new 52-week low of $0.26 on Monday after the Food and Drug Administration asked for a new formulation of its erectile dysfunction cream, Vitaros. The FDA also confirmed that two new late-stage trials would be needed to test the newly formulated product.

Communications gear and solar panels components maker Emcore Corp. (EMKR) tumbled to a new yearly low of $4.70 after the stock had witnessed a significant price drops in the past four weeks. The company has also seen negative earnings estimate revisions both for the current quarter and latest year. Zacks Investment Research suggested that it is not a good decision to keep the stock in portfolio anymore as the share price has dropped 14.8% in the past month.

The milk company Dean Foods Co. (DF) fell to a new yearly low of $8.15 after brokerage firm Goldman Sachs downgraded the stock to “sell” from “neutral” as milk demand keeps sinking and industry fundamentals remain challenging.

Ctrip.com International (CTRP), an online travel agent headquartered in China, hit a new yearly low of $42.36 on Monday as the company is facing problems due to Trump trade friction. Besides, investors also fear that the US banning of selling components, software, and technology to ZTE Corp. might be the start of a ban on all Chinese companies.

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