The Gap Inc. (NYSE: GPS) dropped about 8.5% on Wednesday to post a new 52-week low at $27.64 after closing at $30.22 on Tuesday. The stock’s 52-week high is $43.90. Share volume was nearly 5 times the daily average of around 4.4 million. The highly regarded president of the company’s Old Navy division has been appointed as CEO of Ralph Lauren Corp.
Denbury Resources Inc. (NYSE: DNR) dropped about 6.3% on Wednesday to post a new 52-week low of $2.37 against a 52-week high of $15.33. The stock closed at $2.53 on Tuesday night. Volume is about 15% below the daily average of around 13 million shares traded. The company had no specific news today, but falling crude oil prices did not do Denbury any good.
Goldcorp Inc. (NYSE: GG) posted a new 52-week low on Wednesday. Shares dropped about 2.1% to a low of $11.95 from Tuesday’s closing price of $12.21. The stock’s 52-week high is $25.00. Volume was about 20% lower than the daily average of around 10 million. The gold miner had no specific news today, but falling gold prices are wreaking havoc in the sector. Goldcorp’s stock traded up with a gain of more than 1% later in the day Wednesday.
Schlumberger Ltd. (NYSE: SLB) dropped nearly 2% on Wednesday to post a new 52-week low of $67.75 against a 52-week high of $104.38. The stock closed at $69.10 on Tuesday night. Volume was about 20% below the daily average of around 9.3 million shares traded. The oilfield services firm pulled out of a deal in Russia that was potentially worth about $1.7 billion as a stake in Russia’s largest onshore drilling firm.
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