Micron Technology Inc. (NASDAQ: MU) dropped about 5.4% on Monday to post a new 52-week low of $18.60 against a 52-week high of $36.59. The stock closed at $19.66 on Friday night. Volume totaled nearly 40 million shares, nearly 60% above the daily average of almost 25 million. The company’s stock continues to slide as the tech sector was pretty well beaten up today.
Chesapeake Energy Corp. (NYSE: CHK) dropped nearly 2% on Monday to post a new 52-week low at $10.94 after closing at $11.16 on Friday. The stock’s 52-week high is $29.92. Share volume totaled more than 21 million, within a whisper of the daily average of around 22 million shares traded. Even an upgrade from the analysts at Sterne Agee CRT was not enough to keep the shares posting a new low again today.
MBIA Inc. (NYSE: MBI) posted a new 52-week low on Monday. Shares dropped nearly 22% to a low of $6.50 from Friday’s closing price of $8.32. The stock’s 52-week high is $16.71. Volume totaled around 18 million shares, more than 6-times higher than the stock’s daily average of around 2.8 million. The company’s exposure to Puerto Rico is haunting it after the island’s governor said that its debt is unpayable.
Hewlett-Packard Co. (NYSE: HPQ) dropped about 2.1% on Monday to post a new 52-week low of $29.90 after closing at $30.53 on Friday. The stock’s 52-week high is $41.10. Share volume totaled around 14 million shares, about 35% above the daily average of around 11 million. Analysts at Jefferies lowered their price target on the stock today.
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