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Los Angelas, CA -- (SBWIRE) -- 10/15/2012 -- Advanced Micro Devices Inc. (NYSE:AMD -14.37%) are preparing significant layoffs following a projected shortfall in its third-quarter financial results. The cuts will most likely range from 10% to 20% of the company's workforce, which stood at more than 11,700 at the end of the second quarter. Advanced Micro De (NYSE: AMD) is -0.46 - -14.38% from the previous close of $3.20. It traded between $2.74 - 2.9935 with total traded volume of 83877928 shares. At Current Market Price, AMD is in distance of -21.99% from its 50-day Moving Average price of $3.5126 and -48.63% from its 200-day Moving Average price of $5.3341. Advanced Micro Devices, Inc.(NYSE:AMD) shares dropped 9.53% to $2.89 in the early hour after the company cut its third-quarter revenue estimates, citing weaker-than-expected demand “across all product lines” due to the sluggish global economy. The company now predicts a roughly 10% sequential decline, amounting to $1.27 billion in revenue. In July, AMD’s third-quarter revenue forecast ranged from a gain of 2% to a decline of 4% sequentially, putting results at about $1.36 billion to $1.44 billion, which was already below analysts’ estimates at the time.
Can AMD Recover After the Recent Fall? Find Out Here
Stillwater Mining Company (NYSE:SWC) plunged 9.08% and closed at $11.02 on a traded volume of 11.05 million shares. The Company plans to offer $300-million total principal amount of convertible senior notes due 2032. The Company expects to grant the underwriters of the notes a 30 day overallotment option to purchase up to an additional $45 million total principal amount of the notes.It's down 4.72% today at $10.50. SWC has traded 5.01 million shares so far today, well above its daily average of 2.07 million shares. SWC shares have dropped $1.50 a share over the past two days. The company has a market cap of 1.22 billion.
Get Free Trend Analysis On SWC Here
Sarepta Therapeutics (NASDAQ: SRPT) continues to sell off the 200% monster-rally it saw on October 3rd. I did warn against the selling that would result from profit-taking in the stock, although a 40% retreat from the stock's highs does seem a bit excessive. Bears who were short the stock prior to October 3rd, however, are still deep underwater on their positions (by almost 100%, depending on the starting price). Shares of Sarepta Therapeut (NGM: SRPT) are trading at $27.11 and is +43.87% of its 50-day Moving Average price of $18.8434 and +201.92% from its 200-day Moving Average price of $8.9793. The average trading volume is 2460050 shares and its market capitalization is $613.3M.
How Should Investors Trade SRPT Now? Check Here
Overseas Shipholding Group Inc. (NYSE:OSG) tumbled 13.61% today at $5.08. OSG has traded 2.08 million shares so far today, well above its daily average of 724 thousand shares.OSG shares have dropped nearly $2 a share over the past five days and has lost more than half its value on the year. The company has a market cap of 157.02 million.In trading on Friday, shares of Overseas Shipholding Group, Inc. (NYSE: OSG) entered into oversold territory, changing hands as low as $5.06 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
Will OSG Rebound After Today’s Slump? Find Out Here
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