December 7, 2015: Here are four stocks trading with heavy volume among 328 equities making new 52-week lows today.
Kinder Morgan Inc. (NYSE: KMI) dropped about 10% on Monday to post a new 52-week low of $15.13 against a 52-week high of $44.71. The stock closed at $16.82 on Friday night. Volume was about 5 times the daily average of around 22 million shares traded. Investors have become increasingly uneasy with Kinder Morgan’s high leverage ratio and the sanctity of its dividend (yield of about 12% at today’s low price).
Freeport-McMoRan Inc. (NYSE: FCX) dropped about 8.4% on Monday to post a new 52-week low of $7.19 against a high of $26.15. The stock closed at $7.85 on Friday night. Volume was about equal to the daily average of around nearly 38 million shares traded. The copper and gold miner had no specific news today.
Energy Transfer Equity LP (NYSE: ETE) dropped nearly 21% on Monday to post a new 52-week low at $12.14 after closing at $15.29 on Friday. The stock’s 52-week high is $35.44. Share volume was more than triple the daily average of around 11.7 million. The company had no specific news today, but its pending acquisition of Williams has got to be sending some shareholders for the exits..
Staples Inc. (NASDAQ: SPLS) posted a new low on Monday. Shares dropped about 13.6% to a low of $10.68 from Friday’s closing price of $12.36. The stock’s 52-week high is $19.40. Volume was more than 4 times the daily average of around 8 million shares. The Federal Trade Commission has filed suit to block the office supply retailer’s merger with Office Depot.
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