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Freeport-McMoRan Inc. (NYSE: FCX) dropped 5.7% on Thursday to post a new 52-week low of $16.43 after closing at $17.42 on Tuesday. The stock’s 52-week high is $39.32. Share volume was more than 50% above the daily average of around 17 million shares traded. The copper and gold miner took a couple of downgrades on Wednesday following a poor quarterly report and a cut to its capex budget.
International Business Machines Corp. (NYSE: IBM) dropped about 1.38% on Thursday to post a new 52-week low of $149.53. The stock’s 52-week high is $199.21. Volume was about 50% above the daily average of 4.8 million shares. The company cut about 200 jobs in a Dubuque, Iowa, plant today.
Qualcomm Inc. (NASDAQ: QCOM) dropped nearly 12% on Thursday to establish a new 52-week low at $62.49 against a high of $81.97. Volume was about 4-times the daily average of around 11 million shares. The chipmaker guided 2015 earnings lower than expected.
Exxon Mobil Corp. (NYSE: XOM) posted a new 52-week low on Thursday of $86.03. Based on Wednesday night’s closing price of $87.95 that’s a drop of about 2.2%. The stock’s 52-week high is $104.76. Volume is about 20% higher than the daily average of around 15 million shares. Lower crude prices and warmer weather in the U.S. are hitting the giant company hard.
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