Source: Thinkstock
Aruba Networks Inc. (NASDAQ: ARUN) dropped about 4.3% on Wednesday to post a new 52-week low of $15.83 after closing at $16.07 on Tuesday. The stock’s 52-week high is $23.90. Share volume was about 25% above the daily average of around 1.9 million shares traded. The networking company’s price target was cut from $27 to $22 on Tuesday at Pacific Crest Securities and the bleeding continued today.
National Oilwell Varco Inc. (NYSE NOV) dropped about 4.3% on Wednesday to post a new 52-week low of $51.74. The stock’s 52-week high is $86.55. Volume was nearly double the daily average of around 5.5 million shares. The drilling rig and services company took some lumps from analysts today following a weak forecast on Tuesday.
Ralph Lauren Corp. (NYSE: RL) dropped about 18% on Wednesday to establish a new 52-week low at $140.00 against a high of $187.49. Volume was about 9-times the daily average of around 800,000 shares. The apparel maker reported weak quarterly earnings this morning.
Vivus Inc. (NASDAQ: VVUS) posted a second consecutive 52-week low on Wednesday. Shares dropped about 4% to $2.41 from Tuesday’s closing price of $2.51. The stock’s 52-week high is $7.23. Volume is about 30% below the daily average of around 2.2 million shares. The biopharmaceutical company had no specific news today.
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