QEP Resources, Johnson Controls Slump into Thursday's 52-Week Low Club

Investing

Published: July 27, 2017 4:04 pm

Last Updated: January 12, 2020 9:41 am

July 27, 2017: Here are four stocks trading with heavy volume among 63 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by just less than 3 to 2 and on the Nasdaq, decliners led advancers by nearly 2 to 1.

DryShips Inc. (NASDAQ: DRYS) dropped about 5.8% Thursday to register a new post-reverse-split low of $0.98 after closing at $1.04 on Wednesday. Volume was about 20 million, nearly 10 times the daily average of around 2.3 million shares. The shipping company added 2 new board members today including one independent director, bringing the board total to 5. Following an early dip, shares are on track to close up about 11%.

QEP Resources Inc. (NYSE: QEP) dropped nearly 18% Thursday to post a new 52-week low of $7.62 after closing at $9.27 on Wednesday. The stock’s 52-week high is $21.12. Volume of about 19 million was nearly 4 times the daily average. The company reported earnings this morning and also announced a $732 million acquisition in the Permian Basin just a week after selling some $777.5 million in Wyoming natural gas assets. QEP also plans to step up its drilling plans, a move that flies in the face of the current conventional wisdom among E&P companies.

Johnson Controls International Inc. (NYSE: JCI) posted a new 52-week low of $38.75 on Thursday, down about 10.5% from Wednesday’s closing price of $43.32. Volume totaled around 14.5 million shares, more than 3 times the daily average of around 4.6 million. The company met profit expectations when it reported results this morning. SG&A expenditures rose sharply as did overall cost of sales. Perhaps that and flat revenues weighed on the shares in Thursday’s session.

The Interpublic Group of Companies Inc. (NYSE: IPG) dropped about 2.3% Thursday to post a new 52-week low of $20.94 after closing Wednesday at $21.44. The 52-week high is $25.71. Volume reached nearly 13 million shares traded, nearly 3 times the daily average of around 3.8 million. The company had no specific news, but Tuesday’s weak earnings report continues to weigh on the share price.

Cash Back Credit Cards Have Never Been This Good

Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.