SunEdison Inc. (NYSE: SUNE) dropped about 11.8% on Wednesday to post a new 52-week low at $11.78 after closing at $13.35 on Tuesday. The stock’s 52-week high is $33.45. Share volume totaled about 6 times the daily average of around 15 million. The solar energy company completed a $280 million loan syndication deal for one of its subsidiaries this morning. Shares turned around to gain more than 5% later in the day and are headed to a positive close.
Alibaba Group Holding Ltd. (NYSE: BABA) dropped more than 8% on Wednesday to set a new 52-week low of $71.03 after closing at $77.34 on Tuesday. The stock’s 52-week high is $120.00. Share volume totaled around 36 million shares, about nearly triple the daily average of around 13 million. The earnings report was light on revenues and the announced $4 billion share buyback did not impress investors.
Freeport-McMoRan Inc. (NYSE: FCX) posted a new 52-week low on Wednesday. Shares dropped about 3.3% to a low of $9.88 from Tuesday’s closing price of $10.22. The stock’s 52-week high is $37.10. Volume totaled reached nearly 40% more than the daily average of around 21 million. The company yesterday stopped exports from its Indonesian mine because its permit has expired.
Yahoo! Inc. (NASDAQ: YHOO) dropped about 6% on Wednesday to post a new 52-week low of $33.85 against a 52-week high of $52.62. The stock closed at $36.03 on Tuesday night. Volume was about double the daily average of around 13 million shares traded. The company is essentially a tracking stock for Alibaba with its holding of 384 million shares in the Chinese Internet giant.
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