May 20, 2016: Here are four stocks trading with heavy volume among 32 equities making new 52-week lows in Friday’s session. NYSE advancers led decliners by more than 3 to 1 while Nasdaq advancers led decliners by about the same margin.
Weatherford International Inc. (NYSE: WFT) dropped about 8% on Friday to post a new 52-week low of $4.71 against a 52-week high of $14.81. The stock closed at $5.12 on Thursday night. Volume was about 25% higher than the stock’s daily average volume of around 20 million shares. The oil & gas driller had no specific news Friday, but continuing rig count declines and lower crude oil prices are not good news for the services firms like Weatherford.
Foot Locker Inc. (NYSE: FL) fell by about 8.1% on Friday to post a new 52-week low of $53.83 against a high of $77.25. The stock closed at $58.55 on Thursday night. Volume was more than 3 times the stock’s daily average of around 3.3 million. The sports shoe retailer posted a revenue miss this morning and that never makes investors happy.
Vipshop Holdings Ltd. (NYSE: VIPS) posted a new 52-week low on Friday. Shares traded at a low of $10.34, down about 1.7%, after closing at $10.52 on Thursday. The stock’s 52-week high is $26.95. Volume was about 20% higher than the daily average of around 8.8 million shares. The Chinese online discount retailer posted results earlier this week that met expectations but not hopes. Shares have been struggling ever since.
Cheetah Mobile Inc. (NYSE: CMCM) dropped by about 16.9% on Friday to post a new 52-week low at $9.50 after closing at $11.43 on Thursday. The stock’s 52-week high is $36.37. Daily volume totaled more than 5 times the average of about 7 million shares. The China-based mobile app provider offered a weak outlook earlier this week when it posted quarterly results.
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