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Hewlett-Packard, Exxon Drop into Friday's 52-Week Low Club
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June 2, 2017: Here are four stocks trading with heavy volume among 78 equities making new 52-week lows in Friday’s session. On both the NYSE, advancers led decliners by less than 3 to 2 and on the Nasdaq, advancers led decliners by more than 2 to 1.
Southwestern Energy Co. (NYSE: SWN) dropped about 10.3% Friday to post a new 52-week low of $5.58 after closing at $6.04on Thursday. The stock’s 52-week high is $16.38. Volume of about 25 million was about 15% above the daily average. The company reported earnings this morning and revised its outlook in the wrong direction.
Hewlett-Packard Enterprise Co. (NYSE: HPE) dropped about 3.4% Friday to post a new 52-week low of $16.95 after closing Thursday at $17.52. The 52-week high is $20.97. Volume was about 60% more than the daily average of about 15.5 million shares. The company missed estimates when it reported results last night and lowered its guidance as well.
Exxon Mobil Corp. (NYSE: XOM) posted a new 52-week low of $79.33 on Friday, down about 1.7% compared with Thursday’s closing price of $80.70. The stock’s 52-week high is $95.55. Volume totaled about 15 million shares, about 50% higher than the daily average of about 10 million. The company had no specific news Friday, but like most of the rest of the sector, Exxon took some lumps Friday.
Tegna Inc. (NYSE: TGNA) dropped 5.7% Friday to post a new 52-week low of $14.47 after closing at $15.35 on Thursday. The stock’s 52-week high is $26.65. Volume was nearly 11 million, about 40% above the daily average of around 8 million shares. The company had no specific news but is still swimming upstream following the completion of its spin-off of Cars.com.
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