IBM, General Electric Drop into Wednesday's 52-Week Low Club

Investing

Published: October 31, 2018 3:45 pm

Last Updated: January 11, 2020 3:34 pm

October 31, 2018: Here are four stocks trading with heavy volume among 159 equities making new 52-week lows by late afternoon on Wednesday. On the NYSE advancers lead decliners by about 2.2 to 1, and on the Nasdaq, advancers lead decliners by about 2.03 to 1.

General Electric Co. (NYSE: GE) traded down about 3.7% Wednesday and posted a new 52-week low of $9.80 after closing Tuesday at $10.18. The stock’s 52-week high is $20.75. Volume was about double the daily average of around 78.7 million. The company’s slashed dividend continues to reverberate among analysts and investors.

McDermott International Inc. (NYSE: MDR) traded down about 46% Wednesday to post a new 52-week low of $6.97 after closing Tuesday at $12.87. The stock’s 52-week high is $27.21. Volume was about 17 times the daily average of around 2.2 million shares. The company missed expectations Tuesday evening and an analyst downgrade this morning drew a line under the miss.

International Business Machines Corp. (NYSE: IBM) traded down about 1.1% Wednesday to set a new 52-week low of $114.09 after closing at $115.40 on Tuesday. The stock’s 52-week high is $171.13. Volume was about three times the daily average of around 5.5 million. The company had no specific news, but the Red Hat acquisition is not making a lot of new friends.

Clovis Oncology Inc. (NASDAQ: CLVS) dropped about 30% Wednesday to set a new 52-week low of $11.64. Shares closed at $16.61 on Tuesday and the stock’s 52-week high is $76.18. Volume was more than 10 times the daily average of around 1.7 million. The company missed estimates last night.

24/7 Wall St.
31 American Cities Adding the Most Jobs

ALERT: Take This Retirement Quiz Now (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.