Investing
Celgene, General Electric Flop into Thursday's 52-Week Low Club
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October 26, 2017: Here are four stocks trading with heavy volume among 111 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq advancers and decliners finished about even.
General Electric Co. (NYSE: GE) dropped about 1.4% Thursday to post a new 52-week low of $21.20 after closing at $21.50 on Wednesday. The 52-week high is $32.38. Volume was around 65 million, 30% above the daily average of about 50 million. A report in The Wall Street Journal said the company is looking to get out of the railroad business. The report actually boosted the share price a bit.
Celgene Corp. (NASDAQ: CELG) dropped about 20% Thursday to post a new 52-week low of $95.29 after closing at $119.56 on Wednesday. The stock’s 52-week high is $147.17. Volume of around 53 million was more than 13 times the daily average. The drug maker reported poor sales of its top drug this morning.
Chesapeake Energy Corp. (NYSE: CHK) posted a new 52-week low of $3.41 on Thursday, down about 3.9% from Wednesday’s closing price of $3.55. The stock’s 52-week high is $8.20. Volume totaled around 20 million shares, about a third below the daily average. The company had no specific news Thursday, but natural gas prices appear to be well and truly stuck at around $3.00.
Southwestern Energy Co. (NYSE: SWN) dropped about 3% Thursday to post a new 52-week low of $4.90 after closing at $5.05 on Wednesday. The 52-week high is $12.85. Volume was around 17 million, about 15% more than the daily average of around 15 million. Another energy producer hit by low natural gas prices today.
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