Frontier Communications, Verizon Sink into Thursday’s 52-Week Low Club
May 4, 2017 by Paul AusickMay 4, 2017: Here are four stocks trading with relatively heavy volume among 169 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 4 to 3.
Frontier Communications Corp. (NASDAQ: FTR) dropped about 11.2% Thursday to post a new 52-week low of $1.43 after closing at $1.61 on Wednesday. The stock’s 52-week high is $5.53. Volume of over 66 million was more than 40% above the daily average of around 46.7 million shares traded. The company slashed its dividend when it reported quarterly earnings Tuesday and investors haven’t finished administering punishment yet.
Spirit Realty Capital Inc. (NYSE: SRC) posted a new 52-week low of $6.64 on Thursday, down more than 25% compared with Wednesday’s closing price of $9.92. The stock’s 52-week high is $13.97. Volume totaled around nearly 69 million shares, about 10 times the daily average of 6.8 million. The company reported unsatisfying results after markets closed last night.
Southwestern Energy Inc. (NYSE: SWN) dropped nearly 7% Thursday to post a new 52-week low of $6.81 after closing at $7.32 on Wednesday. The stock’s 52-week high is $15.59. Volume was about 15% above the daily average of around 18 million shares. The company had no specific news.
Verizon Communications Inc. (NYSE: VZ) dropped about 0.8% Thursday to match its 52-week low of $45.76 after closing Wednesday at $46.15. The 52-week high is $56.95. Volume of around 16 million shares was less than 10% higher than the daily average of around 15.6 million. The company had no specific news.
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