Stocks at New Lows: MEMC Electronic Materials, NVIDIA, and Myriad Genetics, Inc.

Despite another lackluster session for the broader equities market, new highs are still outnumbering new lows on both the New York Stock Exchange (NYSE) and the Nasdaq Stock Exchange. At last check, the Big Board was reporting 95 highs and 16 lows, while the Nasdaq is featuring 28 highs versus 26 lows. Among today's stocks tagging fresh annual nadirs are MEMC Electronic Materials, Inc. (WFR), NVIDIA Corporation (NVDA), and Myriad Genetics, Inc. (MYGN).

In fact, the beleaguered shares of WFR are down nearly 16% this afternoon, just barely improved from their a.m. low at $9.19. The stock gapped below the $10 level this morning after WFR fell short of second-quarter profit expectations, and this round-number region could now act as resistance.

In light of WFR's earnings miss, the stock has been hit with no fewer than four price-target cuts and three downgrades from analysts (additionally, two brokerage firms are taking a contrary stance by issuing upgrades -- valuation-based, perhaps). Options players have also piled on, with put volume on WFR rising to six times the norm. Specifically, it looks like traders are buying puts at the equity's August 11 and August 10 strikes.

As for NVDA, the stock has muscled fractionally higher after falling as low as $8.92 earlier. The shares staged a bearish gap yesterday on the heels of a slashed revenue forecast, and NVDA is now fighting resistance near the site of this gap, in the $9.50 neighborhood.

Finally, MYGN tagged a fresh 52-week low of $14.11 earlier -- which, technically, is the stock's lowest price since November 2006. Today's dip continues a longer-term swoon for MYGN, which has beaten a steady path lower since April 2009. The equity's most recent bout of weakness has been highlighted by resistance at its 10-day and 20-day moving averages, which have smacked the shares consistently lower since early May.

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