Stocks Hitting 52-Week Lows

Chegg Inc CHGG shares fell 39.33 percent to reach a new 52-week low of $3.24. Chegg reported better-than-expected quarterly earnings, but the company missed analysts' sales estimates. The company also issued a weak forecast for sales. Power Solutions International Inc PSIX shares touched a new 52-week low of $8.77 after the company reported downbeat quarterly revenue and issued a weak FY16 revenue forecast. Veeco Instruments Inc. VECO shares fell 15.14 percent to touch a new 52-week low of $16.20. Veeco Instruments reported upbeat results for the fourth quarter, but the company issued a weak forecast for the current quarter. PTC Therapeutics, Inc. PTCT shares touched a new 52-week low of $16.205 following announcement of receipt of refuse to file letter from the FDA for Translarna.