Freeport-McMoRan Inc. (NYSE: FCX) dropped nearly 12% on Thursday to post a new 52-week low of $13.30 after closing at $15.06 on Wednesday. The stock’s 52-week high is $38.26. Share volume totaled around 50 million shares, nearly 3-times the daily average of around 17 million. The company reported a profit on lower revenues this morning, but the dive in gold prices continues to hit the company hard.
Chesapeake Energy Corp. (NYSE: CHK) dropped about 7.2% on Thursday to post a new 52-week low at $8.40 after closing at $9.05 on Wednesday. The stock’s 52-week high is $27.58. Share volume totaled more than 32 million, about 50% above the daily average of 22.2 million. The company cut its dividend recently and falling crude oil and natural gas prices are not offering encouragement.
Qualcomm Inc. (NASDAQ: QCOM) posted a new 52-week low on Thursday. Shares dropped about 5.2% to a low of $60.83 from Wednesday’s closing price of $64.19. The stock’s 52-week high is $9.04. Volume totaled around 28 million shares, more than double the stock’s daily average of around 11.4 million. The company took some earnings downgrades after disappointing report on Wednesday night.
Intel Corp. (NASDAQ: INTC) dropped about 0.6% on Thursday to post a new 52-week low of $28.43 against a 52-week high of $37.90. The stock closed at $28.61 on Wednesday night. Volume totaled nearly 27 million shares, about 15% below the daily average of around 31 million shares traded. The world’s largest chipmaker caught a chill when Qualcomm sneezed.
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