Investing
Ascena Group, Deutsche Bank Dip into Tuesday's 52-Week Low Club
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September 20, 2016: Here are four stocks trading with relatively heavy volume among 36 equities making new 52-week lows in Tuesday’s session. NYSE advancers and decliners finished about even and Nasdaq advancers and decliners also finished very nearly even.
Ascena Retail Group Inc. (NASDAQ: ASNA) dropped about 30% on Tuesday to post a new 52-week low of $5.66 after closing at $8.12 on Monday. The stock’s 52-week high is $11.67. Volume was more than 10 times the daily average of around 3.9 million shares. The retail group reported poor results last night and downgrades followed this morning.
Deutsche Bank AG (NYSE: DB) lost about about 4.2% Tuesday to post a new 52-week low of $12.43 after closing Monday at $12.97. The 52-week high is $30.82. Volume of around 8.8 million was up about 61% from the daily average of around 5.4 million. FDIC vice-chairman Thomas Hoenig said Tuesday that the bank’s low capital status makes it the top risk among the big banks.
Noble Corp. plc (NYSE: NE) dropped about 2.9% on Tuesday to post a new 52-week low of $5.09 against a 52-week high of $14.64. Volume of around 6.6 million was about 30% below the daily average of 9 million shares traded. The stock closed at $5.24 on Monday night. The offshore drilling company had no specific news.
Ensco plc (NYSE: ESV) dropped about 3.7% on Tuesday to post a new 52-week low of $6.49 against a 52-week high of $18.93. Volume of around 5.8 million was about 25% below the daily average of around 8 million. The stock closed at $27.42 on Monday night. Another offshore driller that sank Tuesday with no specific news.
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