Stocks at New Highs, New Lows for 12/17

by Alyssa Oursler | December 17, 2012 10:20 am

Stocks at New Highs, New Lows for 12/17

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

New High: Southwest Airlines

Shares of Southwest Airlines (NYSE:LUV[1]) climbed nearly 2% after the bell, sending the stock to a new 52-week high of more than $10. Since the start of the year, the stock has climbed 21%, including a 31% climb from a low in April.

The latest boost came in the wake of the company’s announcement that it plans to introduce new fees in the coming year. Southwest will charge $75 for a third bag, up from the previous charge of $50. Early boarding has increased from $10 to $12.50 as well, while the airline is also adding a fee for failing to cancel a ticket before missing a flight.

The moves are expected to give a nice $300 million bump[2] to fee revenue in 2013, while the company aims to increase overall revenue by $1.1 billion.

Southwest is scheduled to report earnings next on Jan. 24.

New Low: Finish Line

Athletics apparel retailer Finish Line (NASDAQ:FINL[3]) has slid nearly 1% already today, bringing the company’s year-to-date losses to over 8%. Shares are now trading at under $18 — a 52-week low that is more than a 30% fall from the stock’s high around $26 back in March.

The stock was downgraded from “Buy” to “Hold” by Canaccord Genuity this morning, with a price target of $20 vs. the previous target of $28.

Finish Line reports earnings on Jan. 4. Analysts are expecting an EPS of 11 cents — the same that the company reported a year ago. In its most recent report, it beat estimates by 5 cents and presented full-year earnings guidance in-line with expectations.

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

Endnotes:
  1. LUV: http://studio-5.financialcontent.com/investplace/quote?Symbol=LUV
  2. $300 million bump: http://www.latimes.com/business/money/la-fi-mo-southwest-airlines-announces-new-fees-20121214,0,6077354.story
  3. FINL: http://studio-5.financialcontent.com/investplace/quote?Symbol=FINL

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