Investing
Express, Noble Corp. Lead Thursday's 52-Week Low Club
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August 25, 2016: Here are four stocks trading with relatively heavy volume among 28 equities making new 52-week lows in Thursday’s session. NYSE advancers led decliners by a few percentage points and Nasdaq advancers led decliners by just one percentage point.
Express Inc. (NYSE: EXPR) dropped about 2.1% on Thursday to post a new 52-week low of $11.69 after closing at $11.94 on Wednesday. The stock’s 52-week high is $21.57. Volume totaled about 5 million shares, nearly double the daily average of around 2.6 million shares. The specialty retailer’s stock skidded following a disappointing earnings report Wednesday, and the bleeding has slowed but not entirely stopped.
Noble Corp. plc (NYSE: NE) lost about 1.7% Thursday to post a new 52-week low of $5.83 after closing Wednesday at $5.93. The 52-week high is $14.64. Volume of around 4.6 million was about 40% below the daily average of around 8.8 million. The company had no specific news Thursday.
DHT Holdings Inc. (NYSE: DHT) dropped about 6.4% on Thursday to post a new 52-week low of $4.42 against a 52-week high of $8.48. Volume of around 3.6 million was more than a third higher than the daily average of around 2.6 million. The stock closed at $37.68 on Wednesday night. The crude oil tanker company on Wednesday adjusted the conversion factor for its 4.5% convertible notes, and Morgan Stanley downgraded the stock from Overweight to Equal Weight this morning.
Merrimack Pharmaceuticals Inc. (NASDAQ: MACK) dropped about 4.5% on Thursday to post a new 52-week low of $4.65 against a 52-week high of $11.00. Volume of around 2.2 million was about 20% above the daily average of around 1.9 million. The stock closed at $4.87on Wednesday night. The company had no specific news Wednesday.
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