NEW YORK (
(YRCW) wasn't alone in receiving a warning letter from the
Nasdaq last month.
YRC Worldwide, like several other companies, received notice in March that it is in violation of a Nasdaq listing rule that requires a stock to maintain a minimum bid price of $1. These companies now have less than six months to regain compliance with the rule or face delisting from the exchange. The following 10 stocks, ranked by revenue over the trailing 12 months, received notice in March and remain on the Nasdaq's list of deficient companies as of April 6.
YRC Worldwide (YRCW)
Closing price: 57 cents (April 7)
Revenue: $5.28 billion (trailing 12 months)Received Nasdaq notice: March 3, 2010 Management's expected action: Shareholders have authorized YRC Worldwide's board of directors to effect a reverse stock split within a range of 5-to-1 to 25-to-1. That would bring the approximately 1 billion outstanding shares to a post-reverse-stock-split range of roughly 40 million to 200 million. However, under the terms of a $70 million private placement transaction, YRC Worldwide has agreed not to implement a reverse stock split prior to April 24. The company expects to effect the reverse stock split during the second quarter.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV