Stocks at New Highs, New Lows for 11/15

by Alyssa Oursler | November 15, 2012 10:46 am

Stocks at New Highs, New Lows for 11/15

Here’s one stock hitting a 52-week high and one finding a 52-week low today:

New High: Hormel Foods

Hormel Foods (NYSE:HRL[1]) has had quite the sideways year, but has been steadily moving upwards of late. The stock stumbled in July, dipping to just $28. Since then, it has gained more than 10%. Slight movement in the black today brings it to a 52-week high of more than $30.

The company is broader than most of its peers in the food sector, dabbling in meat, packaged foods and frozen entrees. It also pays a dividend yielding just under 2%.

In August, Hormel reaffirmed its earnings guidance for the full year. The range of $1.79 to $1.89 was in line with analyst estimates of $1.85. The company also reported Q3 earnings of 41 cents per share, up from 37 cents the year before and again in-line with analysts expectations.

Hormel reports Q4 earnings next Tuesday, Nov. 20.

New Low: Trina Solar

Yesterday, Trina Solar (NYSE:TSL[2]) reported lower preliminary shipment estimates. It has also posted a loss in the last four quarters, so investors were quick to flee.

Shares shed 20% on the news and a slight slide this morning has brought the renewable energy company to a new 52-week low. The stock currently trades around $2.60 — 60% from its $7 pricetag in January.

Chinese stocks all around slumped this morning, too, as the ruling party announced new leaders to oversee the economy. It is forecast to grow this year at the slowest pace in more than a decade.

Trina also reports earnings next Tuesday, Nov. 20.

As of this writing, Alyssa Oursler did not own a position in any of the aforementioned companies.

Endnotes:
  1. HRL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HRL
  2. TSL: http://studio-5.financialcontent.com/investplace/quote?Symbol=TSL

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