Halliburton Co. (NYSE: HAL) dropped about 2.5% Tuesday to post a new 52-week low of $40.20. The stock’s 52-week high is $74.33. Volume is about double the daily average of around 17 million shares. The oilfield services firm slipped on low crude oil prices and a downgrade of the entire energy sector by BofA/Merrill Lynch.
Transocean Ltd. (NYSE: RIG) dropped about 4.2% on Tuesday to post a new 52-week low of $19.16 after closing at $19.99 on Monday. The stock’s 52-week high is $50.47. Share volume is about 50% above the 11.7 million daily average shares traded. Another oilfield services firm hit by the downgrade.
Vale SA (NYSE: VALE) posted a drop of about 4.7% today to establish a new 52-week low of $8.32 against a high of $15.59. Volume is about 30% above the daily average of around 28 million shares. One of the world’s largest producers of iron ore will cut spending dramatically again next year as ore prices remain low.
Vivint Solar Inc. (NYSE: VSLR) posted a new post-IPO low on Tuesday of $8.01. Based on Monday night’s closing price of $9.03 that’s a drop of about 11.3%. The stock’s post-IPO high is $18.71. Trading volume is nearly 20% higher than the daily average of around 1.6 million shares. The solar PV installer heard some encouraging words from a Deutsche Bank analyst today, but investors must not have agreed with them.
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