Chesapeake Energy Corp. (NYSE: CHK) dropped about 4.8% on Thursday to post a new 52-week low at $11.00 after closing at $11.55 on Wednesday. The stock’s 52-week high is $29.92. Share volume totaled about 24 million, nearly 10% higher than the daily average of around 22 million shares traded. The company was downgraded by UBS this morning and oil prices dropped today, a double hit to Chesapeake’s fortunes.
Micron Technology Inc. (NASDAQ: MU) dropped about 1.7% on Thursday to post a new 52-week low of $23.66 against a 52-week high of $36.59. The stock closed at $24.06 on Wednesday night. Volume totaled around 22 million shares, about equal to the daily average. The company reports quarterly earnings after Thursday’s close.
CenturyLink Inc. (NYSE: CTL) posted a new 52-week low on Thursday. Shares dropped about 5.6% to a low of $30.10 from Wednesday’s closing price of $31.88. The stock’s 52-week high is $45.67. Volume totaled more than 12 million shares, over 3-times the stock’s daily average of around 4 million. The stock was downgraded at J.P. Morgan today.
BlackBerry Ltd. (NASDAQ: BBRY) dropped about 3.1% on Thursday to post a new 52-week low of $8.56 after closing at $8.83 on Wednesday. The stock’s 52-week high is $12.63. Share volume totaled around 12 million shares, about 30% above the daily average of around 9 million. Even a stock buyback of 12 million shares isn’t supporting the stock after the earnings results reported earlier this week.
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