Chesapeake Energy Corp. (NYSE: CHK) dropped about 6% on Monday to post a new 52-week low of $14.26 against a high of $29.92. Volume was about 50% higher the daily average of around 17 million shares. The oil & gas company had no specific news today, but shares probably reacted to a drop of more than 5% in natural gas prices.
Itau Unibanco Holding SA (NYSE: ITUB) dropped another 5.6% on Monday to post a new 52-week low of $10.70 after closing at $11.34 on Friday. The stock’s 52-week high is $18.49. Share volume was more than double the daily average of around 12.7 million shares traded. The Brazilian government is reeling and the country’s finances are being reviewed.
Petroleo Brasileiro SA (NYSE: PBR) posted a new 52-week low on Monday. Shares dropped about 6.2% to $5.59 from Friday’s closing price of $5.96. The stock’s 52-week high is $20.94. Volume is about 15% below the daily average of around 44 million shares. The investigation into the company’s corruption and bribery scandal widened on over the weekend.
Vale Inc. (NYSE: VALE) dropped another 3.7% on Monday to post a new 52-week low of $6.18 after closing at $6.42 on Friday. The stock’s 52-week high is $15.59. Share volume was about 10 % above the daily average of around 29.6 million shares traded. The mining company is another casualty of Brazil’s political and economic mess.
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