by Alyssa Oursler | November 14, 2012 11:26 am
Here’s one stock hitting a 52-week high and one finding a 52-week low today:
Campbell Soup Co. (NYSE:CPB) has reached a new 52-week high thanks to steady gains over the past few days. The stock moved upwards more than 4% over the last week, bringing its year-to-date gains into the double digits.
The company hasn’t jumped dramatically on any big news, but has been making a gradual climb as relatively-new CEO Denise Morrison continues restructuring and marketing efforts.
During the summer, the company snatched up Bolthouse Farms for $1.55 billion and plans to keep building its international snack food and baked goods business through further acquisitions.
More recently, Campbell inked a deal to have its V8 Splash and V8 V-Fusion drinks available to make with SodaStream‘s (NASDAQ:SODA) home beverage carbonators.
Campbell Soup Co. reports earnings on Tuesday, Nov. 20. Last quarter, earnings jumped 27% year-over-year and beat estimates.
Shares of Japanese tech company Sony (NYSE:SNE) fell more than 7% this morning, sending the stock to a 52-week low. SNE has been on its way down since highs of over $22 in late February and are now trading under $10. The stock has lost around 45% year-to-date.
The company’s sales have been on the way down — so much so that it cut its annual TV sales forecast by 2 million units.
Sony isn’t the only Japanese tech company struggling in today’s post-PC era. Panasonic (NYSE:PC) has fallen 43% year-to-date, Canon (NYSE:CAJ) has slid more than 30% and Sharp (PINK:SCHAY) has plummeted 77%.
Sony has its eye on one of the few Japanese tech names that’s had a decent year: Olympus (PINK:OCPNY). Olympus has gained more than 23% since January. Today, Sony announced plans to raise $1.9 billion by selling convertible bonds and one-third of those proceeds will go towards an investment in Olympus.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned companies.
Source URL: http://investorplace.com/2012/11/stocks-at-new-highs-new-lows-for-1114/
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