Investing
Verizon, JC Penney Tumble Into Friday's 52-Week Low Club
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April 28, 2017: Here are four stocks trading with relatively heavy volume among 86 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 8 to 5.
Frontier Communications Corp. (NASDAQ: FTR) dropped about 5.2% Friday to post a new 52-week low of $1.81 after closing at $1.91 on Thursday. The stock’s 52-week high is $5.58. Volume was about 25% below the daily average of around 43.4 million shares traded. The company reports earnings next Tuesday and investors do not seem hopeful for good news.
J.C. Penney Co. Inc. (NYSE: JCP) dropped about 2.4% Friday to post a new low of $5.32 after closing at $5.45 Thursday night. The stock’s 52-week high is $11.30. Volume was about 10% above the daily average of around 18.9 million shares. The company had no specific news.
Verizon Communications Inc. (NYSE: VZ) dropped about 1.6% Friday to post a new 52-week low of $45.94 after closing Thursday at $46.67. The 52-week high is $56.95. Volume of around 19.2 million shares was about 20% above the daily average of around 15.6 million. The company made a small investment in an autonomous driving startup.
FuelCell Energy Inc. (NASDAQ: FCEL) posted a new 52-week low of $1.00 on Friday, down 60% compared with Thursday’s closing price of $1.60. The stock’s 52-week high is $8.88. Volume of around 12.4 million shares was about 13 times the daily average of around 800,000 shares. The company priced a secondary stock offering of 12 million shares and additional warrants at $1.28 to raise $15.4 million.
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