Alcoa Inc. (NYSE: AA) posted a new 52-week low on Wednesday. Shares dropped about 1.9% to a low of $10.94 from Tuesday’s closing price of $11.157. The stock’s 52-week high is $17.75. Volume totaled more than 37 million shares, nearly 12-times higher than the stock’s daily average of around 3.1 million. The company had no specific news today.
Chesapeake Energy Corp. (NYSE: CHK) dropped about 5.7% on Wednesday to post a new 52-week low of $10.53 against a 52-week high of $29.53. The stock closed at $11.17 on Tuesday night. Volume totaled more than 16 million shares, about 30% below the daily average of almost 25 million. Shares are likely reacting to lower crude oil prices today.
Baxter International Inc. (NYSE: BAX) dropped about 1.5% on Wednesday to post a new 52-week low at $37.43 after closing at $37.99 on Tuesday. The stock’s 52-week high is $77.31. Share volume totaled well above 18 million, about 4-times the daily average of around 4.8 million shares traded. The company’s stock was downgraded to Neutral at Credit Suisse today.
Exxon Mobil Corp. (NYSE: XOM) dropped about 1.2% on Wednesday to post a new 52-week low of $82.21 after closing at $83.20 on Tuesday. The stock’s 52-week high is $104.76. Share volume totaled around 8.5 million shares, about 15% below the daily average of around 11vmillion. The company had no specific news today, but the EIA’s inventory report and the falling price for crude did Exxon no favors today.
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