We’ve had essentially a 500 point rally in the DJIA in just the last two days and oil is starting to lose its mo-mo. Yet some companies just refuse to participate in the rally because of news, and many look like they were caught in a mid-city explosion (hence the image).
Regardless of how the market does you can always count on many news-driven or sector driven events causing new lows. One thing is for sure during a weak economy and during choppy earnings, there will be many more stocks in the coming weeks hitting 52-week lows. Some will continue hitting new lows over and over.
Below are some of the companies whose stocks hit new 52-week lows today:
- AT&T Inc. (NYSE: T)
- Coca Cola Enterprises (NYSE: CCE)
- Champion Enterprises (NYSE: CHB)
- eBay Inc. (NASDAQ: EBAY)
- Georgia Gulf (NYSE: GGC)
- Global Industries (NASDAQ: GLBL)
- International Game Tech (NYSE: IGT)
- Plains All American LP (NYSE: PAA)
- Reliant Energy Inc. (NYSE: RRI)
- Semgroup Energy Partners (NASDAQ: SGLP)
- Textron Inc. (NYSE: TXT)
- ValueClick Inc. (NASDAQ: VCLK)
As a reminder, not all of these have closed on fresh 52-week lows butthese were among the more active stocks today that hit fresh lows overthe last year.
Jon C. Ogg
July 17, 2008
