Investing

Encana, Hanesbrands Sink into Thursday's 52-Week Low Club

Paul Ausick

Published: November 1, 2018 2:08 pm

Last Updated: January 11, 2020 3:30 pm

November 1, 2018: Here are four stocks trading with heavy volume among 84 equities making new 52-week lows by mid-day on Thursday. On the NYSE advancers lead decliners by about 2.95 to 1, and on the Nasdaq, advancers lead decliners by about 3.66 to 1.

Encana Corp. (NYSE: ECA) traded down about 17.6% Thursday to post a new 52-week low of $8.44 after closing Wednesday at $10.24. The stock’s 52-week high is $14.31. Volume was about nine times the daily average of around 9.7 million shares. The company announced a $5.5 billion acquisition and investors are not pleased.

Hanesbrands Inc. (NYSE: HBI) traded down about 9.3% Thursday to post a new 52-week low of $15.56 after closing Wednesday at $17.16. The stock’s 52-week high is $23.33. Volume was about 50% higher than the daily average of around 5.8 million shares. The company missed revenue estimates when it reported quarterly results this morning.

Abbvie Inc. (NYSE: ABBV) traded down about 0.4% Thursday to set a new 52-week low of $77.52 after closing at $77.85 on Wednesday. The stock’s 52-week high is $125.86. Volume was about 25% above the daily average of around 5.4 million. The company had no specific news and shares are trading up about 2.8%.

Annaly Capital Management Inc. (NYSE: NLY) dropped about 1% Thursday to set a new 52-week low of $9.77. Shares closed at $9.87 on Wednesday and the stock’s 52-week high is $12.37. Volume was about half the daily average of around 12.8 million. The company reported third-quarter results last night that included a decline of 5.5% in net interest income.