American Express Co. (NYSE: AXP) dropped about 5.4% on Friday to post a new 52-week low of $76.53 against a high of $96.24. The stock closed at $80.91 on Thursday night. Volume was more than double the daily average of around 8.2 million shares. The company reported weak quarterly results after markets closed Thursday night.
Akebia Therapeutics Inc. (NASDAQ: AKBA) dropped about 6.5% on Friday to post a new 52-week low of $8.11 after closing at $8.67 on Thursday. The stock’s 52-week high is $31.00. Share volume was nearly 50-times the daily average of around 123,000 shares traded. The company today priced a secondary stock offering of about 7.3 million shares at $8.25 per share.
Lexington Realty Trust (NYSE: LXP) dropped about 1.8% on Friday to post a new 52-week low of $9.52 after closing at $9.69 on Thursday. The stock’s 52-week high is $11.75. Share volume was about equal to the daily average of around 1.95 million shares shares traded. The REIT had no specific news today.
Rovi Corp. (NASDAQ: ROVI) also posted a new 52-week low on Friday. Shares dropped about 5.8% to $17.03 from Thursday’s closing price of $18.07. The stock’s 52-week high is $26.44. Volume is about 10% above the daily average of around 1.6 million shares. An activist investment firm wants the company to replace 3 of its directors.
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