(By Mayur Pahilajani - iStockAnalyst Writer)
Some stocks hit a new 52 week low on Thursday as the markets on Wall
Street gained on some positive earnings outlook and improving jobs
market. These stocks, including insurance and financial, are under
pressure for several reasons.
GlaxoSmithKline PLC (NYSE: GSK):
GlaxoSmithKline, one of the leading companies in creating and
delivering educational curriculum for general pharma and HIV
medications, have donated medicines in an effort to cover 13 illnesses
caused by parasites. It is one of the companies that has reduced the
costs of medicines to 50 cents per patient, according to a latest
report by World Health Organization. The firm said on Monday that it is
planning to double Elephantiasis drug manufacturing capacity in India.
Shares of the company has traded down on Thursday by 16 cents or 0.41
percent to $38.94 9:48am ET in New York. The stock hit a new 52-week
low of $38.89 from the previous low of $39.08.
Unilever N V (NYSE: UN):
After the bell, shares of the firm were trading down by 16 cents or
0.63 percent at $25.30. The stock of global consumer goods group hit a
new 52-week low at $25.14 from its previous low of $25.35. It has
traded as high as $37.31 in the last 52 weeks. The firm's earnings are
hurt by lowered consumer spending and declining demand for its
products. It recently recalled some of its Lipton-brand milk tea powder
in Hong Kong and Macau on reports that traces of melamine were found in
the product.
Principal Financial Group In (NYSE: PFG):
Investors have showed less interest in the insurance companies after
financial firms hit by subprime crisis. Fitch recently said in its note
that Principal Financial Group may not be immune despite strong
portfolio. At 10:18am ET, shares of the firm declined by $1.84 or 8.46
percent at $19.90 on Thursday, after hitting a new 52-week low of
$19.42 from the previous low of $20.60.
