Investing

Micron, Texas Instruments Plunge Into Wednesday's 52-Week Low Club

Paul Ausick

Published: October 24, 2018 12:00 pm

Last Updated: January 11, 2020 3:55 pm

October 24, 2018: Here are four stocks trading with heavy volume among 298 equities making new 52-week lows by noon on Wednesday. On the New York Stock Exchange, decliners led advancers by about 1.55 to 1.00, and on the Nasdaq, decliners led advancers by about 2.25 to 1.00.

Micron Technology Inc. (NASDAQ: MU) traded down about 5% Wednesday to post a new 52-week low of $36.75, after closing Tuesday at $38.68. The stock’s 52-week high is $64.66. Volume was about half the daily average of around 36 million shares. The company had no specific news.

Freeport-McMoRan Inc. (NYSE: FCX) traded down about 4.7% Wednesday to set a new 52-week low of $10.85, after closing at $11.61 on Tuesday. The stock’s 52-week high is $20.25. Volume was about 25% below the daily average of around 18.5 million. The mining giant reported good third-quarter earnings this morning, but the outlook is not bright for copper prices.

Texas Instruments Inc. (NASDAQ: TXN) traded down about 7% Wednesday and posted a new 52-week low of $93.19, after closing Tuesday at $100.25. The stock’s 52-week high is $120.75. Volume was more than double the daily average of around 5.7 million. The company reported satisfactory earnings last night, but the outlook is soft and dragging down chip stocks like Micron.

DXC Technology Co. (NYSE: DXC) dropped nearly 21% Wednesday to set a new 52-week low of $69.51. Shares closed at $87.56 on Tuesday, and the stock’s 52-week high is $96.75. Volume was about five times the daily average of around 1.6 million. The IT services provider had no specific news.