Investing
Nike, Bristol-Myers Drop into Monday's 52-Week Low Club
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October 17, 2016: Here are four stocks trading with relatively heavy volume among 71 equities making new 52-week lows in Monday’s session. On the NYSE, decliners led advancers by about 3 to 2 and on the Nasdaq decliners led advancers by about 4 to 3.
Bristol-Myers Squibb Co. (NYSE: BMY) dropped about 1.3% on Monday to post a new 52-week low of $49.10 against a 52-week high of $77.12. Volume of about 9.1 million was about 35% below the daily average of around 13.8 million. The stock closed at $49.77 on Friday night. The pharmaceutical giant had no specific news Monday.
Teva Pharmaceutical Industries Inc. (NYSE: TEVA ) lost about 2.8% Monday to post a new 52-week low of $41.76 after closing Friday at $42.96. The 52-week high is $66.55. Volume of nearly 8 million was about 30% above the daily average of around 6.2 million shares traded. The FDA put a hold on a mid-stage study of Teva’s experimental drug for back pain.
Shell Midstream Partners LP (NYSE: SHLX) lost about 1.4% Monday to post a new 52-week low of $28.92 after closing Friday at $29.34. The 52-week high is $42.29. Volume of around 240,000 was about 30% below the daily average of about 360,000 shares traded. The pipeline MLP announced an open season on a new ethane pipeline in the northeastern United States.
Nike Inc. (NYSE: NKE) dropped about 1% on Monday to post a new 52-week low of $51.06 after closing at $51.62 on Friday. The stock’s 52-week high is $68.19. Volume was about 45% below the daily average of around 9 million shares. A downgrade this morning to competitor Under Armour may have played a role here.
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