Freeport-McMoRan Inc. (NYSE: FCX) dropped about 4.2% on Tuesday to set a new 52-week low of $9.81 after closing at $10.24 on Monday. The stock’s 52-week high is $37.10. Share volume totaled around 34 million shares, about 50% above the daily average of around 22 million. The company’s copper export license in Indonesia has expired and there is not a lot of reason to expect a new one will be granted. And then there’s the price of copper, which is down again today at a 12-month low around $2.28 a pound.
Itaú Unibanco Holding SA (NYSE: ITUB) dropped about 2.8% on Tuesday to post a new 52-week low at $7.34 after closing at $7.55 on Monday. The stock’s 52-week high is $18.49. Share volume totaled nearly double the daily average of around 14 million. The stock price rose above its break-even point about midday and is headed for a close near 5% higher than yesterday’s.
Wal-Mart Stores Inc. (NYSE: WMT) dropped about 3.7% on Tuesday to post a new 52-week low of $69.28 against a 52-week high of $90.97. The stock closed at $71.91 on Monday night. Volume was 2.5 times above the daily average of around 7.6 million shares traded. The company reported earnings this morning that included cut to its outlook.
Alcoa Inc. (NYSE: AA) posted a new 52-week low on Tuesday. Shares dropped about 2% to a low of $9.24 from Monday’s closing price of $9.43. The stock’s 52-week high is $17.75. Volume came in about a third lower than the daily average of around 21 million. The company had no specific news today, but the commodity slide continues.
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