April 12, 2016: Here are four stocks trading with relatively heavy volume among 17 equities making new 52-week lows in Tuesday’s session. The day’s NYSE winners led losers by about 3 to 1. Nasdaq winners outpaced losers by about 3 to 2.
Och-Ziff Capital Management Group LLC (NYSE: OZM) posted a new 52-week low on Tuesday. Shares traded at a low of $2.89, down about 24%, after closing at $3.80 on Monday. The stock’s 52-week high is $13.49. Volume totaled more than 8 times the daily average of around 1.2 million shares. Federal prosecutors apparently want the hedge fund to plead guilty and pay a $400 million fine to resolve allegations that the company violated the Foreign Corrupt Practices Act in deals with African nations.
Allergan plc (NYSE: AGN) dropped about 3.3% on Tuesday to post a new 52-week low of $220.75 against a 52-week high of $340.34. The stock closed at $228.37 on Monday night. Volume was about double the stock’s daily average volume of around 4.2 million. The giant pharmaceutical house had no specific news Tuesday.
Endo International plc (NASDAQ: ENDP) fell by about 3.1% on Tuesday to post a new 52-week low of $25.23 against a high of $96.58. The stock closed at $26.03 on Monday night. Volume totaled about 8 million shares, more than 20% above the daily average of about 6.4 million. Another drugmaker’s stock posting a new low with no specific news.
Clovis Oncology Inc. (NASDAQ: CLVS) dropped about 18.7% on Tuesday to post a new 52-week low at $12.25 after closing at $15.06 on Monday. The stock’s 52-week high is $116.75. Share volume of around 3.6 million was nearly 3 times the daily average of about 1.3 million shares traded. An FDA panel has recommended against approval for the company’s proposed lung cancer drug based on the existing trial data.
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