Micron Technology Inc. (NASDAQ: MU) dropped about 4.8% on Monday to set a new 52-week low of $16.12 after closing at $16.95 on Friday. The stock’s 52-week high is $36.59. Share volume totaled around 28 million shares, about 10% below the daily average of around 31 million. The company got an upgrade from Wells Fargo Securities today, but the chipmaker’s valuation range was lowered and so were earnings estimates. The stock is headed for a gain of about 1.5% by the closing bell today.
Marathon Oil Corp. (NYSE: MRO) dropped about 1.7% on Monday to post a new 52-week low at $16.90 after closing at $17.19 on Friday. The stock’s 52-week high is $41.92. Share volume totaled 40% more than the daily average of around 8 million. The lower price of crude hurt oil company stocks today, but Marathon, like Micron, appears headed for a positive close.
SeaDrill Ltd. (NYSE: SDRL) dropped about 2.7% on Monday to post a new 52-week low of $7.66 against a 52-week high of $37.79. The stock closed at $7.87 on Friday night. Volume was 15% below the daily average of around 12 million shares traded. The company had no specific news today, but lower crude prices are not good for offshore drillers.
Alcoa Inc. (NYSE: AA) posted a new 52-week low on Monday. Shares dropped about 1.6%to a low of $9.26 from Friday’s closing price of $9.41. The stock’s 52-week high is $17.75. Volume fell to a third of the daily average of around 21 million. The company had no specific news today.
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