Investing
Newell Brands, Range Resources Plunge into Thursday's 52-Week Low Club
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January 25, 2018: Here are four stocks trading with heavy volume among 42 equities making new 52-week lows in Thursday’s session. On the NYSE decliners led advancers by around 8 to 7 and on the Nasdaq, decliners led advancers by about the same ratio.
Newell Brands Inc. (NYSE: NWL) traded down more than 25% Thursday and posted a new 52-week low of $23.85 after closing Wednesday at $31.23. The stock’s 52-week high is $55.08. Volume was around 66 million, about nine times the daily average of 7.1 million shares. The consumer products company warned on 2017 profits and revealed a new strategic plan.
Range Resources Corp. (NYSE: RRC) dropped 11.2% Thursday to post a 52-week low of $15.10 after closing at $17.00 on Wednesday. The 52-week high is $36.40. Volume was around 30 million, more than four times the daily average. The company announced its capital budget for the year on Wednesday and the emphasis on natural gas does not appear to have set well with investors.
Alaska Air Group Inc. (NYSE: ALK) dropped about 8.4% Thursday to post a new 52-week low of $59.25 after closing at $64.69 on Wednesday. The stock’s 52-week high is $101.43. Volume was about 9 million, more than three times the daily average of around 2.1 million. The company reported unexciting earnings this morning and even a dividend boost didn’t help.
ConfoMIS Inc. (NASDAQ: CFMS) fell more than 36% Thursday to post a new 52-week low of $1.45 after closing at $2.27 on Wednesday. The 52-week high is $8.61. Volume of about 8 million was 20 times the daily average of around 420,000 shares traded. The company priced a secondary offering of 13.3 million shares at $1.50 this morning. Investors really hate that sort of thing.
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