Shares in
Hot Topic Inc.
hit a 52-week low Tuesday one year to the day after hitting a 52-week high. Shares fell after A.G. Edwards analyst Robert Buchanan downgraded the stock sending shares down as low as $9.15 during trading. Buchanan said that after several straight quarters of negative same-store sales growth, Hot Topic’s appeal to teens is declining he cut his rating to “Sell” from “Hold.” Shares in Hot Topic, based in City of Industry, were down 40 cents, or 4.2 percent, to $9.21. The 52-week high reached last year was $14.77.
Shares in
ValueClick Inc.
gained more than 3 percent Tuesday after Pacific Growth Equities analyst Yun Kim raised his rating for the Westlake Village-based online advertising firm to “neutral” from “sell.” The upgrade comes a day after shares in ValueClick lost 30 percent due to poor earnings and a lowered annual guidance. Shares in ValueClick gained 63 cents, or 3 percent, to $21.64 in afternoon trading Tuesday. Shares are down more than 45 percent since hitting a 52-week high of $36.70 in May.
Shares in
PC Mall Inc.
of Torrance gained nearly 10 percent after reporting a nearly seven-fold increase in second-quarter net income. Profit jumped to $3 million (22 cents per share), from $395,000 for the same period a year earlier. Sales also rose 12 percent to $263 million, thanks to lower advertising and labor costs, the company said. Shares in PC Mall were up $1.23, or 9.8 percent, to $13.73 in afternoon trading Tuesday on the Nasdaq.
