Investing
Rite Aid, Valeant Tumble into Thursday's 52-Week Low Club
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April 20, 2017: Here are four stocks trading with relatively heavy volume among 54 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 7 to 3 and on the Nasdaq advancers led decliners by nearly 3 to 1.
Rite Aid Corp. (NYSE: RAD) posted a new 52-week low of $3.75 on Thursday, down about 8% compared with Wednesday’s closing price of $4.08. The stock’s 52-week high is $8.77. Volume was about 25% above the daily average of around 25 million shares. Investors may still be reacting to a report late Wednesday that the Federal Trade Commission may block the company’s pending takeover by Walgreens.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 1.8% Thursday to post a new 52-week low of $8.86 after closing Wednesday at $9.02. The stock’s 52-week high is $38.50. Volume of around 10.5 million shares was about 40% below the daily average of around 18.6 million. The company had no specific news.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) dropped about 0.4% Thursday to post a 52-week low of $30.57 after closing at $30.70 Wednesday night. The stock’s 52-week high is $58.16. Volume was about half the daily average of nearly 9.3 million shares. The company launched it version of GSK’s asthma inhaler Advair today. Shares are on track to post a small gain after bouncing back from the early morning low.
Calpine Corp. (NYSE: CPN) dropped about 3.8% Thursday to post a new 52-week low of $9.89 after closing at $10.28 on Wednesday. The stock’s 52-week high is $16.07. The merchant power generator had no specific news.
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