Investing
Ericsson, Nokia Stumble into Thursday's 52-Week Low Club
Published:
Last Updated:
October 13, 2016: Here are four stocks trading with relatively heavy volume among 80 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by 2 to 1 and on the Nasdaq decliners led advancers by more than 2 to 1.
Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) dropped 3.6% on Thursday to post a new 52-week low of $5.35 against a 52-week high of $10.58. Volume of about 28 million was about 6 times the daily average of around 4.8 million. The stock closed at $5.55 on Wednesday night. The Swedish network gear maker warned on revenues and earnings Wednesday morning.
Nokia Corp. (NYSE: NOK)) lost about 4.1% Thursday to post a new 52-week low of $4.88 after closing Wednesday at $5.09. The 52-week high is $7.63. Volume of around 21 million was about double the daily average of around 11 million shares traded. The stock was cut from Goldman’s Conviction Buy list this morning.
Bristol-Myers Squibb Inc. (NYSE: BMY) lost nearly 1.8% Thursday to post a new 52-week low of $49.12 after closing Wednesday at $50.01. The 52-week high is $77.12. Volume of around 12 million was about 10% below the daily average of about 13.5 million shares traded. Another stock removed from Goldman’s Conviction Buy list.
Gilead Sciences Inc. (NASDAQ: GILD) dropped about 1.1% on Thursday to post a new 52-week low of $72.21 after closing at $73.03 on Wednesday. The stock’s 52-week high is $111.11. Volume was about 20% below the daily average of around 10.6 million shares. The company had no specific news Thursday, and recovered enough that it may close (barely) in the green.
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.