April 29, 2016: Here are four stocks trading with relatively heavy volume among 28 equities making new 52-week lows in Friday’s session. NYSE decliners led advancers by about 5 to 4 while Nasdaq decliners led by advancers by nearly 2 to 1.
Seagate Technology PLC (NASDAQ: STX) dropped nearly 20% on Friday to post a new 52-week low at $21.61 after closing at $26.90 on Thursday. The stock’s 52-week high is $60.09. Share volume of was more than 3 times the daily average of around 6.6 million shares traded. The hard drive maker and rival Western Digital both took a beating today after posting poor quarterly earnings.
Stericycle Inc. (NASDAQ: SRCL) posted a new 52-week low on Friday. Shares traded at a low of $91.05, down about 25%, after closing at $121.74 on Thursday. The stock’s 52-week high is $151.57. Volume totaled more than 7 times the daily average of around 950,000 shares. The waste management company missed earnings expectations last night and shares took a downgrade from RBC Capital Markets this morning.
ImmunoGen Inc. (NASDAQ: IMGN) dropped about 22% on Friday to post a new 52-week low of $6.59 against a 52-week high of $19.43. The stock closed at $8.45 on Thursday night. Volume was more than 3 times the stock’s daily average volume of around 980,000 shares. The biotech firm reported an earnings miss this morning and also missed revenue expectations.
Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) fell by almost 2% on Friday to post a new 52-week low of $8.05 against a high of $11.81. The stock closed at $8.21 on Thursday night. Volume totaled about 4 million shares, within 5% of the daily average. The company had no specific news Friday.
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