Market Overview

Stocks Hitting 52-Week Lows

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Rhino Resource Partners LP (NYSE: RNO) shares tumbled 54.58% to touch a new 52-week low of $5.40 after the company lowered its Q3 distribution to $0.05 per unit from $0.445 per unit. Raymond James downgraded Rhino Resource Partners from Outperform to Underperform.

International Business Machines (NYSE: IBM) shares fell 4.05% to reach a new 52-week low of $162.25. Bank of America lowered the price target on IBM from $200.00 to $185.00. On Monday, the company posted downbeat profit in the third quarter and announced its plans to pay $1.5 billion to
Globalfoundries to take over its chip unit.

ARM Holdings plc (NASDAQ: ARMH) shares reached a new 52-week low of $38.29 after the company reported Q3 results.

eGain (NASDAQ: EGAN) shares fell 2.05% to touch a new 52-week low of $4.29. eGain is expected to announce FQ1 financial results on November 3, 2014.

 

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