Investing

Symantec, Tesaro Plunge into Friday's 52-Week Low Club

Paul Ausick

Published: August 3, 2018 4:04 pm

Last Updated: January 11, 2020 7:54 pm

August 3, 2018: Here are four stocks trading with heavy volume among 93 equities making new 52-week lows in Friday’s session. On the NYSE advancers led decliners by about 1.42 to 1 and on the Nasdaq, decliners led advancers by about 1.37 to 1.

Symantec Corp. (NASDAQ: SYMC) traded down about 14.8% Friday and posted a new 52-week low of $17.81 after closing Thursday at $20.88. The stock’s 52-week high is $34.20. Volume totaled around 40 million, about four times the daily average. The company’s earnings report was passable, but guidance was not.

Tesaro Inc. (NASDAQ: TSRO) traded down about 22% Friday to post a new 52-week low of $27.40 after closing Thursday at $35.28. The stock’s 52-week high is $136.45. Volume was more than six times the daily average of about 2 million shares. The company reported weaker-than-expected results along with downbeat guidance.

Mannkind Corp. (NASDAQ: MNKD) traded down about 34% Friday to set a new 52-week low of $0.99. Shares closed at $1.50 on Thursday, and the 52-week high is $6.96. Volume was about five times the daily average of around 2 million. The struggling biopharma firm reported weak earnings last night.

Western Digital Corp. (NASDAQ: WDC) dropped about 1.8% Friday to set a new 52-week low of $67.33. Shares closed at $68.52 on Thursday and the stock’s 52-week high is $106.96. Volume was about equal to the daily average of around 3.9 million.