Here’s one stock hitting a 52-week high and one finding a 52-week low today:
New High: Time Warner
Shares of media giant Time Warner (NYSE:TWX) are up slightly today, sending the stock to a new 52-week high over $47. TWX has gained 30% year-to-date and 40% since a low in June.
Earlier this month, shares got a boost as the company beat earnings estimates by 4 cents in the most recent quarter despite a slight slip in revenue.
Last week, the media and entertainment giant also re-signed CEO Jeff Bewkers for five more years. Since he took over at the start of 2008, TWX has gained 37% and significantly outperformed the S&P 500, according to Market Watch.
In other news, Jeff Zucker was recently named president of CNN cable news network, which has been slipping in the ratings thanks to competitors like News Corp‘s (NASDAQ:NWSA) Fox News and Comcast‘s (NASDAQ:CMCSA) MSNBC.
New Low: Centrais Eletricas Brasileiras
Centrais Eletricas Brasileiras (NYSE:EBR.B) — an ADR of Eletrobras — is probably ready for a new start in 2013. Its stock has lost three-quarters of its value since January and today’s nearly double-digit fall has sent it to a new 52-week low.
Shares are now trading for just $3.60 vs. a 52-week high of $16.16. Today’s drop in particular came as Brazil’s government proposed compensating utilities a total far less than the company was expecting.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned companies.