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Los Angelas, CA -- (SBWIRE) -- 11/19/2012 -- Sycamore Networks (NasdaqNM:SCMR) is very active today and traded between $2.65 - 3.31 with total traded volume of 1981436 shares. At a current price of 2.81, SCMR is -0.77 - -21.51% from the previous close of $3.58. Moreover, At Current Market Price, SCMR is in distance of -65.48% from its 50-day Moving Average price of $8.1412 and -78.19% from its 200-day Moving Average price of $12.8822. Shares of communications equipment provider Sycamore Networks Inc (SCMR.O) plunged after it said on Thursday that it would seek shareholder approval for a previously announced sale of its bandwidth management assets and a dissolution of the company. Shares of the company, which went public in 1999, fell 26 percent to an all-time low of $2.65 on the Nasdaq on Friday. The shares had touched a high of $1,995 in 2000 at the height of the dotcom boom. The company has been struggling with falling sales of its bandwidth management products, its only source of revenue.
How Should Investors React To SCMR Now? Find Out Here
Sears Holdings Corp. (NASDAQ:SHLD), the retailer controlled by hedge-fund manager Edward Lampert, fell the most in more than 10 months after posting a wider third-quarter loss and its 23rd straight quarterly sales decline. Sears fell 16 percent to $49.17 at 10:08 a.m. in New York and earlier slid as much as 17 percent for the biggest intraday decline since Dec. 27. The Hoffman Estates, Illinois-based company’s shares had more than doubled through the close of regular trading yesterday. The third-quarter net loss widened to $498 million, or $4.70 a share, from a loss of $421 million, or $3.95, a year earlier, Sears said yesterday in a statement. Sales dropped 5.8 percent to $8.86 billion, continuing a streak of declines that began in 2007. “Sears is in a very weak operating condition and is not well positioned to recover,” Matt McGinley, a managing director at International Strategy & Investment Group in New York, wrote in a note yesterday. He recommends selling the shares.
Can SHLD Recover After The Recent Fall? Find Out Here
Shares of SINA (NASDAQ:SINA) have plunged by as much as 16% today after the company reported earnings with soft guidance. Non-GAAP revenue in the third quarter came out to $147.7 million, which resulted in non-GAAP earnings per share of $0.17. SINA's Weibo micro-blogging service is off to a strong monetization start, with ad revenue doubling sequentially. The company began sharing revenue with developers. Those figures were ahead of Street forecasts, but SINA's guidance left a lot to be desired. Fourth-quarter adjusted revenue is expected to be in the range of $132 million to $136 million, well short of the $152 million that analysts and investors were hoping for. Citi downgraded the stock by two notches, from buy to sell, in the wake of the results. Furthermore Sina Corporation (NasdaqNM:SINA) reported EPS of 0.566. For the Current Fiscal year, the company is expected to report EPS of 0.12. For the Next Quarter and Next Year, the company is expected to report EPS of 0.01 and 1.05 respectively. At Current Market Price, SINA is in distance of -21.57% from its 50-day Moving Average price of $57.4679 and -18.24% from its 200-day Moving Average price of $55.1245.
Should Investors Wait For Rally On SINA? CLICK HERE To Know More
Shares of ZaZa Energy Corpo (NCM:ZAZA) are trading at $1.67 and is -13.35% from its 50-day Moving Average price of $1.9274 and -50.07% from its 200-day Moving Average price of $3.3444. The average trading volume is 397559 shares and its market capitalization is $170.0M. Zaza Energy Corporation (ZAZA) divests ZaZa Energy France to Vermillion Energy through a share buyout. The purchase price is about $85.8 million, and the transaction should close before the end of 2012. ZaZa plans to use the sale proceeds for repayment of senior secured notes and to step up its drilling program of core acreage in Texas.
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