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

It’s Your Money, Your Future—Own It (sponsor)

Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.

If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.