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Stocks Slumping to 52-Week Lows: Diamond Foods, SuperValu

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"Yesterday, Supervalu announced plans to eliminate an estimated 2,200 - 2,500 store-level positions at its Albertsons stores in Southern California and Nevada," Deutsche Bank analysts wrote in a June 7 report. "The cuts, which will be announced over the week of June 17 through around July 1, will impact all 247 stores in the division. The company hopes the move will simplify the organization and reduce expenses, which SVU can then 'reinvest in more customer facing initiatives.' The decision to make the cuts follows SVU's success in finding ways to delayer/cut costs by making reductions at the Fullerton store support center. SVU notes that the division has seen a reduction in traffic and sales, while it has not made the necessary adjustments to its store-level operations."

Shares of SuperValu hit a 52-week low on Monday of $4.11. The stock's 52-week high of $9.71 was set on July 7.

SuperValu's forward P/E is 17.2; the average among its peers is 19.25. For comparison, Safeway (SWY) has a lower forward P/E of 9.02.

Eleven of the 19 analysts who cover SuperValu rated it hold. Five analysts gave the stock a sell rating and three rated it buy.

The stock has fallen 49.51% year to date.

U.S. Steel

"Lower steel prices are the primary driver of our lower estimates for US Steel," Goldman Sachs analysts wrote in a report on Sunday. "While there will be some incremental benefit from the new Carbonyx facility and coke batteries as well as increased demand from auto/energy sectors, the high cost structure means that US Steel's earnings continue to be highly leveraged to the steel prices."

Shares of U.S. Steel hit a 52-week low on Monday of $18.11. The stock's 52-week high of $47.33 was set on July 5.

U.S. Steel's forward P/E is 13.1; the average among its peers is 15. For comparison, Nucor (NUE) has a higher forward P/E of 15.25.

Twelve of the 23 analysts who cover U.S. Steel rated it hold. Eight analysts gave the stock a buy rating and three rated it sell.

The stock has fallen 31.59% year to date.

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