Investing

The 52-Week Low Club for Wednesday

down market
Thinkstock
January 14, 2015: Here are four stocks among the 342 equities making new 52-week lows today.

Freeport-McMoRan Inc. (NYSE: FCX) posted a new 52-week low on Wednesday of $17.85. Based on Tuesday night’s closing price of $21.04 that’s a drop of about 15.2%. The stock’s 52-week high is $39.32. Volume is more than 3-times higher than the daily average of around 15 million shares. The company had no specific news today, but copper prices have plunged from around $2.80 a pound at the end of 2014 to close today at around $2.52.

General Electric Co. (NYSE: GE) dropped about 10.5% on Wednesday to post a new 52-week low of $23.41. The stock’s 52-week high is $27.53. Volume was was about equal to the daily average of 35 million shares. The conglomerate had no specific news today.

Ocwen Financial Corp. (NYSE: OCN) dropped more than 16% on Wednesday to establish a new 52-week low at $6.51 against a high of $52.88. Volume was more than 4-times the daily average of around 5 million shares. Shares swooned yesterday nearly 40% yesterday on news that California, the company’s largest market, may suspend Ocwen’s license to collect payments in the state. Moody’s downgraded Ocwen’s and two sister companies’s corporate debt rating to B3 today on news of the dispute with California.

Phillips 66 (NYSE: PSX) dropped nearly 6.8% on Wednesday to post a new 52-week low of $57.33 after closing at $61.50 on Tuesday. The stock’s 52-week high is $87.98. Share volume is about double the daily average of around 5 million shares traded. Refining companies are being hit again today on falling crude prices, higher inventories of crude oil, and declining refinery throughput.

ALSO READ: America’s Best Run Companies

Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE

Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.