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General Electric, AT&T Wallow in Wednesday's 52-Week Low Club
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November 1, 2017: Here are four stocks trading with heavy volume among 106 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq decliners led advancers by nearly 2 to 1.
General Electric Co. (NYSE: GE) dropped about 1% Wednesday to post a new 52-week low of $19.96 after closing at $20.16 on Tuesday. The 52-week high is $32.38. Volume was around 76 million, almost 50% above the daily average of about 53 million. J.P. Morgan analyst Stephen Tusa suggests a dividend cut at the conglomerate is likely to come sooner rather than later.
AK Steel Holding Corp. (NYSE: AKS) dropped about 5.7% Wednesday to post a new 52-week low of $4.33 after closing at $4.59 on Tuesday. The stock’s 52-week high is $11.39. Volume of around 53 million was more than four times the daily average. The steelmaker reported worse-than-expected results Tuesday and is still paying the price.
Envision Healthcare Corp. (NYSE: EVHC) posted a new 52-week low of $26.56 on Wednesday, down nearly 38% from Tuesday’s closing price of $42.60. The stock’s 52-week high is $74.75. Volume totaled around 47 million shares, more than 22 times the daily average. The company said yesterday it is looking at strategic alternatives after a poor earnings report.
AT&T Inc. (NYSE: T) dropped about 1.1% Wednesday to post a new 52-week low of $33.29 after closing at $33.65 on Tuesday. The 52-week high is $43.03. Volume was around 32 million, about 20% above the daily average of around 27.5 million. The telecom giant had no specific news.
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