Investing
Pilgrim's Pride, Sunoco Slide into Monday's 52-Week Low Club
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November 18, 2016: Here are four stocks trading with relatively heavy volume among 39 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by nearly 3 to 1 and on the Nasdaq advancers led decliners by about 5 to 4.
Infosys Ltd. (NYSE: INFY) dropped nearly 1.1% on Monday to post a new 52-week low of $13.74 against a 52-week high of $20.47 and a Friday close of $13.89. Volume of about 4 million was about 20% below the daily average of around 5.4 million. The company had no specific news.
Pilgrim’s Pride Corp. (NASDAQ: PPC) lost about 6.3% Monday to post a new 52-week low of $17.15 after closing Friday at $18.31. The 52-week high is $27.79. Volume of around 3.7 million was more than double the daily average of around 1.5 million shares traded. A poor earnings report from competitor Tyson cooled investors’ enthusiasm early, but the stock recovered and is on track to post a gain for the day.
Novo Nordisk A/S (NYSE: NVO) dropped about 0.7% on Monday to post a new 52-week low of $32.19 after closing at $32.42 on Friday. The stock’s 52-week high is $59.00. Volume of about 3.4 million was about 15% below the daily average of around 4 million shares. The drug maker had no specific news.
Sunoco LP (NYSE: SUN) dropped about 4.9% on Monday to post a new 52-week low of $22.64 after closing at $23.81 on Friday. The stock’s 52-week high is $40.06. Volume was more than 4 times the daily average of around 540,000 shares. The MLP was tangentially involved in a major energy pipeline company merger announced this morning between Sunoco Logistics and Energy Transfer Partners.
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