Investing
McKesson, Nokia Settle into Friday's 52-Week Low Club
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October 28, 2016: Here are four stocks trading with relatively heavy volume among 138 equities making new 52-week lows in Friday’s session. On the NYSE, decliners led advancers by about 3 to 2 and on the Nasdaq decliners led advancers by about the same margin.
McKesson Corp. (NYSE: MCK) dropped nearly 29% on Friday to post a new 52-week low of $114.53 against a 52-week high of $202.20. Volume of about 24 million was more than 20 times the daily average of around 1.6million. The stock closed at $160.50 on Thursday night. The drug distribution company warned on earnings and dragged the whole healthcare sector down.
Nokia Corp. (NYSE: NOK) dropped about 4% on Friday to post a new 52-week low of $4.54 after closing at $4.73 on Thursday. The stock’s 52-week high is $7.63. Volume was about double the daily average of around 11.8 million shares. The networking company’s stock was downgraded from Buy to Neutral at BNP Paribas this morning.
CVS Health Corp. (NYSE: CVS) lost nearly 5.3% Friday to post a new 52-week low of $82.55 after closing Thursday at $87.19. The 52-week high is $106.67. Volume of about 13.5 million was more than double the daily average of around 5.3 million shares traded. The company had no specific news on Friday.
Calpine Corp. (NYSE: CPN) dropped about 5.5% on Friday to post a new 52-week low of $11.27 after closing at $11.93 on Thursday. The stock’s 52-week high is $16.49. Volume of 10.8 million was more than double the daily average of around 4.8 million shares. The merchant power generator reported better-than-expected results this morning, but lowered its forecast for 2016 at the same time..
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