Investing
Abercrombie & Fitch, Hanesbrands Dip into Friday's 52-Week Low Club
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December 16, 2016: Here are four stocks trading with relatively heavy volume among 49 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by about 4 to 3 and on the Nasdaq decliners led advancers by nearly 5 to 4.
Hanesbrands Inc. (NYSE: HBI) dropped about 2.7% on Friday to post a new 52-week low of $21.49 against a 52-week high of $31.36 and a Thursday close of $22.08. Volume of more than 11 million was about double the daily average of around 5.6 million. The company said it has agreed to sell two businesses it acquired earlier this year in its purchase of Pacific Brands Ltd. of Australia.
Amicus Therapeutics Inc. (NASDAQ: FOLD) dropped about 2.1% on Friday to post a new 52-week low of $4.70 after closing at $4.80 on Thursday. The stock’s 52-week high is $9.99. Volume was more than triple the daily average of around 2.7 million shares. The company on Thursday priced a private offering of convertible senior notes with an initial conversion price of about $6.12 per share.
RXi Pharmaceuticals Corp. (NASDAQ: RXII) dropped nearly 43% Friday to post a new 52-week low of $0.80 after closing Thursday at $1.38. The 52-week high is $4.24. Volume of around 4.2 million was about 14 times the daily average of around 310,000 shares traded. The company said this morning that it had priced 10 million shares at $0.90 in a secondary offering.
Abercrombie & Fitch Co. (NYSE: ANF) dropped about 1.3% on Friday to post a new 52-week low of $13.20 after closing at $13.37 on Thursday. The stock’s 52-week high is $32.83. Volume of about 2.4 million shares was 20% below the daily average of about 3.3 million. The company had no specific news Friday.
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