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New York, NY -- (SBWIRE) -- 10/16/2012 -- A123 Systems (NASDAQ:AONE), a maker of car batteries for electric cars, may not have sufficient cash to fund operations and could need to seek bankruptcy protection. The company, which received a $249M grant from the government, failed to meet interest payments on approximately $143M of its material debt agreements yesterday.A123, which received a $249.1 million federal grant in 2009 to build a U.S. factory, needed a financial lifeline after struggling with costs from a recall of batteries supplied to Fisker Automotive Inc., the plug-in hybrid luxury carmaker. A123 announced in August that it was working on a deal with Wanxiang Group Corp., China’s largest auto-parts maker, for financing in exchange for a majority ownership stake. Shares of A123 Systems, Inc (NasdaqNM: AONE) are trading at $0.0677 and is -75.50% of its 50-day Moving Average price of $0.2763 and -91.10% from its 200-day Moving Average price of $0.7607. The average trading volume is 13862200 shares and its market capitalization is $11.5M.
Will AONE Rebound After Today’s Slump? Find Out Here
Bankrate, Inc. Co (NYSE:RATE) is -3.76 - -25.93% from the previous close of $14.50. It traded between $10.27 - 11.13 with total traded volume of 3903213 shares. At Current Market Price, RATE is in distance of -35.04% from its 50-day Moving Average price of $16.5337 and -42.24% from its 200-day Moving Average price of $18.5935.Bankrate Inc. (RATE) announced after the bell Monday that it now expects to report third quarter EPS of $0.02 to $0.04, with revenues of $115.5 million to $117.5 million. The consesus estimates are for EPS of $0.20 and revenues of $132.74 million.Bankrate has gapped open sharply lower Tuesday and is now down 4.01 at $10.49 on strong volume. The stock has been declining for nearly 2 weeks and has dropped to a new low for the year.It fell 1.2% after it lowered third-quarter earnings forecasts following modifications of its insurance lead volume.
Can RATE Bounce Back Again? Click Here To Know
Advanced Micro De (NYSE:AMD) reported EPS of -0.879. For the Current Fiscal year, the company is expected to report EPS of 0.03. For the Next Quarter and Next Year, the company is expected to report EPS of -0.03 and 0.11 respectively. At Current Market Price, AMD is in distance of -20.94% from its 50-day Moving Average price of $3.4786 and -47.67% from its 200-day Moving Average price o $5.2546.AMD may cut upto 20 percent of its jobs, days after the chipmaker reduced its revenue forecast for the third quarter, citing weaker-than-expected demand across all product lines caused by the challenging macroeconomic environment.The company now expects revenue for the quarter ended Sept. 29 to decline roughly 10 percent from the prior quarter, versus prior projections of a revenue drop to 1 percent, plus or minus 3 percent.AMD currently expects gross margin to contract to 31 percent from around 44 percent guided earlier due to an inventory write-down of about $100 million because of lower anticipated future demand for certain products.
How Should Investors Trade AMD Now? Find Out
OCZ Technology Gr (NCM:OCZ) is -0.15 - -10.42% from the previous close of $1.44. It traded between $1.23 - 1.37 with total traded volume of 1788586 shares. Keep a close eye on OCZ, as the stock has been showing unusual moves over the past weeks. At Current market price, OCZ has recovered -8.51% from its 52-week Low of 1.41 and has Pulled back -87.16% from its 52-week high of 10.05.OCZ announced that it will file a Form 12b-25, Notification of Late Filing with the U.S. Securities and Exchange Commission, to extend the deadline to file OCZ's second quarter 2013 financial results; the company noted that it could not estimate the exact filing of its Form 10-Q for the quarter ended August 31, 2012. According to the company, OCZ's second quarter of fiscal year 2013 "revenue will be materially lower than the September 5th preliminary revenue range of $110 to $120 million"; the delay is "principally due to the impact of customer incentive programs which were discovered subsequent to the preliminary announcement during the normal close process, and which the company will be reporting as a material weakness in its Form 10-Q." Additionally, OCZ "also expects to report negative gross margins and a significant net loss" for second quarter 2013. In this news, the company's shares declined $1.27 per share, or more than 40%, to close on October 10, 2012 at $1.88 per share.
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