Vale SA (NYSE: VALE) dropped about 1.4% on Monday to post a new 52-week low of $5.59 after closing at $5.67 on Friday. The stock’s 52-week high is $15.59. Share volume totaled about 60% below the daily average of around 28.5 million shares traded. On Sunday, Brazil’s government nominated Vale’s CEO as the next chairman of Petrobras. The government controls Petrobras, and its nominee, Murilo Ferreira, would replace Guido Mantega who has been chairman of the oil company since 2010. The oil giant also has a new CEO, Aldemir Bendine, who replaced Maria das Graças Foster who resigned last month amid a bribery and corruption scandal that is rocking Petrobras.
Windstream Holdings Inc. (NASDAQ: WIN) dropped about 2.8% on Monday to post a new 52-week low of $7.23 against a 52-week high of $13.30. Shares closed at $7.44 Friday night. Volume was more than double the daily average of around 7 million shares. The communications company said Monday morning that it has appointed a CFO for the proposed REIT spin-off it announced last week.
Apollo Education Group Inc. (NASDAQ: APOL) posted a new 52-week low on Monday. Shares dropped about 1.2% to $18.84 from Friday’s closing price of $19.20. The stock’s 52-week high is $35.23. Volume is about 60% above the daily average of around 1.6 million shares. The for-profit higher education firm posted a quarterly loss last week and guided revenue lower than expected. The entire for-profit higher education sector is suffering from tighter regulations on student loans.
Rowan Companies plc (NYSE: RDC) dropped about 1% on Monday to post a new 52-week low of $17.23 after closing at $17.41 on Friday. The stock’s 52-week high is $33.78. Share volume remained about equal to the daily average of around 2.8 million shares traded. The offshore contract drilling services firm had no specific news today, but then, none is really necessary as oilfield services companies continue to bear the brunt of weak crude oil prices.
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