Market Overview

Stocks Hitting 52-Week Lows

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Intelsat SA (NYSE: I) shares fell 13.62 percent to reach a new 52-week low of $2.60 after the company reported preliminary Q4 results. Intelsat said it expects to earn $0.42 per share in the fourth quarter on revenue of $571.3 million. Wall Street analysts were expecting the company to earn $0.36 per share on revenue of $575.9 million.

Midcoast Energy Partners LP (NYSE: MEP) shares dropped 6.44 percent to touch a new 52-week low of $4.21. Midcoast Energy Partners shares have tumbled 70.26 percent over the past 52 weeks, while the S&P 500 index has declined 9.10 percent in the same period.

Chimerix Inc (NASDAQ: CMRX) shares touched a new 52-week low of $5.28 after the company reported that its Phase 3 SUPPRESS trial of brincidofovir did not meet primary endpoint for the prevention of cytomegalovirus infection following hematopoietic cell transplantation. Citi downgraded the rating for Chimerix from Buy to Neutral, while reducing the price target from $13 to $9.

Wheeler Real Estate Investment Trust Inc (NASDAQ: WHLR) shares declined 3.51 percent to touch a new 52-week low of $1.10. Wheeler Real Estate Investment Trust, is expected to issue its Q4 financial results on March 8, 2016.

 

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