Coach Inc. (NYSE: COH) dropped 3% today to post a new 52-week low of $32.92. The stock’s 52-week high is $57.95. The company is suffering from a weak outlook presented Tuesday morning by another luxury retailer, Michael Kors. Trading volume was about 20% below the daily average of around 4.5 million shares traded.
Discovery Communications Inc. (NASDAQ: DISCA) dropped about 10% on Tuesday to post a new 52-week low of $32.03 after closing at $35.67 on Friday evening. The stock’s 52-week high is $46.38. Share volume is nearly 3-times the daily average of around 3.3 million. The company reported results this morning and offered a revenue forecast below estimates which Discovery blamed on lower ratings and slower advertising growth.
Sprint Inc. (NYSE: S) posted a new 52-week low on Tuesday of $4.86. Based on Monday night’s closing price of $36.20 that’s a drop of nearly 22%. The stock’s 52-week high is $11.47. Trading volume is more than 5-times the daily average of around 27 million shares. The company reported results after markets closed last night and said it would fire another 2,000 workers. Sprint is also weighing on profits at SoftBank.
SandRidge Energy Inc. (NYSE: SD) posted a drop of about 8% today to post a new 52-week low of $3.50 against a 52-week high of $7.43. Volume is about 10% below the daily average of around 11 million shares. The company said this morning that it may have to restate results back to 2012 and will not file third quarter results on time.
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