IBM, AT&T Tumble into Wednesday’s 52-Week Low Club

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July 19, 2017: Here are four stocks trading with heavy volume among 52 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by about 11 to 4 and on the Nasdaq, decliners led advancers by about 2 to 1.

AT&T Inc. (NYSE: T) dropped about 0.5% Wednesday to post a new 52-week low of $35.81 after closing Tuesday at $35.99. The 52-week high is $43.50. Volume was around 18.4 million shares traded, about 15% below the daily average of around 21.5 million. The company had no specific news.

DryShips Inc. (NASDAQ: DRYS) posted a new 52-week low of $0.50 on Wednesday, down nearly 40% compared with Tuesday’s closing price of $.083. Volume totaled around 12 million shares, about 4 times the daily average. The company announced a 1-for-7 reverse stock split late Tuesday, the company’s eighth reverse split since March of 2016.

International Business Machines Corp. (NYSE: IBM) dropped about 4.7% Wednesday to post a new 52-week low of $146.73 after closing at $154.00 on Tuesday. The 52-week high is $182.79. Volume was about 11.4 million, more than double the daily average of 4.4 million shares. The company reported poor earnings last night and CEO Ginni Rometty and the company’s board can’t find a path to growth or profits.

BBVA Banco Francés SA (NYSE: BFR) dropped about 3% Wednesday to post a new 52-week low of $15.41 after closing at $15.88 on Tuesday. The stock’s 52-week high is $21.90. Volume of about 7.1 million was nearly 35 times the daily average of about 223,000. The Argentine bank had no specific news.