May 19, 2016: Here are four stocks trading with heavy volume among 81 equities making new 52-week lows in Thursday’s session. NYSE decliners led advancers by nearly 2 to 1 while Nasdaq decliners led advancers by roughly the same margin.
Limited Brands Inc. (NYSE: LB) dropped about 5.9% on Thursday to post a new 52-week low of $60.00 against a 52-week high of $101.11. The stock closed at $63.78 on Wednesday night. Volume was approaching 3 times the stock’s daily average volume of around 2.8 million shares. The clothing chain did not meet estimates for the first quarter and cut its guidance as well. That double whammy nearly always bats the stock price around pretty hard.
Gilead Sciences Inc. (NASDAQ: GILD) fell by about 1.9% on Thursday to post a new 52-week low of $81.28 against a high of $123.37. The stock closed at $82.88 on Wednesday night. Volume was 25% below the stock’s daily average of around 10.8 million. The biotech giant had no specific news Thursday.
Staples Inc. (NASDAQ: SPLS) posted a new 52-week low on Thursday. Shares traded at a low of $8.00, down about 2.9%, after closing at $8.24 on Wednesday. The stock’s 52-week high is $16.74. Volume was about 30% lower than the daily average of around 10.3 million shares. The office supplies store had no specific news.
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The Gap Inc. (NYSE: GPS) dropped by about 0.5% on Thursday to post a new 52-week low at $17.00 after closing at $17.09 on Wednesday. The stock’s 52-week high is $39.59. Daily volume was about equal to the average of about 7 million shares. The apparel retailer reports earnings following the closing bell this afternoon. Expectations have been lowered so far that there appears to be some hope that Gap will hop over the bar with ease.
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