December 17, 2015: Here are four stocks trading with heavy volume among 190 equities making new 52-week lows today.
Freeport-McMoRan Inc. (NYSE: FCX) dropped about 8.8% on Thursday to post a new 52-week low of $6.10 against a 52-week high of $23.97. The stock closed at $6.69 on Wednesday night. Volume topped 42 million shares, about 5% above the daily average of around 40 million shares traded. The company’s gold, copper, and crude oil prices are negatively affected by the strength shown by the dollar following Wednesday’s Fed funds rate hike.
Teekay Corp. (NYSE: TK) slipped nearly 62% on Thursday to post a new 52-week low of $6.65 against a high of $52.82. The stock closed at $17.49 on Wednesday night. Volume was about 30 times higher than the daily average of around 700,000 shares traded. The crude oil shipper cut its quarterly dividend by 90% from $0.55 to $0.055
Pier 1 Imports Inc. (NYSE: PIR) posted a new low on Thursday. Shares dropped about 23.5% to a low of $4.55 from Wednesday’s closing price of $5.95. The stock’s 52-week high is $17.52. Volume was more than 5 times higher than the daily average of around 3 million shares. The retailer cut it guidance for Q4 when it reported results on Wednesday after markets closed.
California Resources Corp. (NYSE: CRC) dropped nearly 22% on Thursday to post a new 52-week low at $1.76 after closing at $2.25 on Wednesday. The stock’s 52-week high is $9.87. Share volume was nearly triple the daily average of around 6 million. The energy company had no specific news today, but reported on Tuesday that production would increase by 1% in 2015.
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