SunEdison Corp. (NYSE: SUNE) dropped about 6.9% on Wednesday to post a new 52-week low at $8.10 after closing at $8.80 on Tuesday. The stock’s 52-week high is $33.45. Share volume was more than 3.5 times the daily average of around 21 million. Despite some recent insider purchases by company, investors are worried about the company’s debt and its cash flow. Shares recovered their footing to trade up nearly 7% as the closing bell approached.
Schlumberger Ltd. (NYSE: SLB) posted a new 52-week low on Wednesday. Shares dropped 6.2% to a low of $68.01 from Tuesday’s closing price of $72.52. The stock’s 52-week high is $112.00. Volume totaled nearly 7 times the daily average of around 7 million. The oilfield services company has announced a $14.3 billion bid to buy services firm Cameron International. Investors are probably not happy with the timing of this deal.
Freeport-McMoRan Inc. (NYSE: FCX) dropped about 5.8% on Wednesday to post a new 52-week low of $7.76 against a 52-week high of $36.65. The stock closed at $8.24 on Tuesday night. Volume was about 80% above the daily average of around 25 million shares traded. The company had no specific news today, but the stock has reached a 13-year low on low gold and copper prices.
Transocean Ltd. (NYSE: RIG) dropped about 7.7% on Wednesday to set a new 52-week low of $11.26 after closing at $12.20 on Tuesday. The stock’s 52-week high is $38.87. Share volume totaled around 25 million shares, more than double the daily average of around 12 million. After markets closed on Tuesday the company announced that it is suspending its dividend.
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