Avon, Ensco Dive into Tuesday’s 52-Week Low Club
May 30, 2017 by Paul Ausick
May 30, 2017: Here are four stocks trading with heavy volume among 149 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by about 3 to 2 and on the Nasdaq decliners led advancers by about 9 to 5.
Avon Products Inc. (NYSE: AVP) dropped about 5% Tuesday to post a new 52-week low of $3.24 after closing Friday at $3.41. The 52-week high is $6.96. Volume rose to more than 4 times the daily average of about 7 million shares. The company had no specific news.
Ensco plc (NYSE: ESV) dropped 8.8% Tuesday to post a new 52-week low of $6.11 after closing at $6.70 on Friday. The stock’s 52-week high is $12.04. Volume was more than 6 times the daily average of around 9.8 million shares. The company agreed to acquire offshore driller Atwood Oceanics for about $839 million in stock.
Southwestern Energy Co. (NYSE: SWN) dropped about 2.9% Tuesday to post a new 52-week low of $6.61 after closing at $6.42 on Friday. The stock’s 52-week high is $6.42. Volume of about 14.5 million was about 25% below the daily average of around 20 million shares traded. The company had no specific news Tuesday.
Nabors Industries Ltd. (NYSE: NBR) posted a new 52-week low of $8.18 on Tuesday, down about 6.5% compared with Friday’s closing price of $8.75. The stock’s 52-week high is $18.40. Volume totaled about 12.7 million shares, about 50% higher than the daily average of about 8.2 million. The company had no news Tuesday, but the tie-up between Ensco and Atwood is not good news for Nabors.
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