October 16, 2015: Here are four stocks trading with heavy volume among 25 equities making new 52-week lows today.
Quanta Services Inc. (NYSE: PWR) dropped nearly 30% on Friday to post a new 52-week low of $18.51 against a high of $35.33. The stock closed at $26.21 on Thursday night. Volume was more than 6 times the daily average of around 3.3 million shares traded. The company warned on third- and fourth-quarter earnings results this morning.
Wal-Mart Stores Inc. (NYSE: WMT) dropped about 1.6% on Friday to post a new 52-week low of $58.37 against a 52-week high of $90.97. The stock closed at $59.33 on Thursday night. Volume was more than double the daily average of around 10.5 million shares traded. The company warned on earnings Wednesday and investors continue to flee the stock, although the stampede has slowed.
Seagate Technology PLC dropped more than 6.7% on Friday to post a new 52-week low at $38.64 after closing at $41.44 on Thursday. The stock’s 52-week high is $69.40. Share volume was nearly 5 times the daily average of around 4.8 million. The company warned on third quarter earnings Thursday and the carnage continues, although the daily loss is less than half as large as Thursday’s.
PDL Biopharma Inc. (NASDAQ: PDLI) posted a new low on Friday. Shares dropped about 5.6% to a low of $4.40 from Thursday’s closing price of $4.66. The stock’s 52-week high is $8.60. Volume was more than 3 times the daily average of around 2.7 million. The company had no specific news today.
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