Endo, Plains All American Slide into Tuesday’s 52-Week Low Club
August 8, 2017 by Paul AusickAugust 8, 2017: Here are four stocks trading with heavy volume among 139 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by nearly 2 to 1 and on the Nasdaq decliners led advancers by about 7 to 3.
Teva Pharmaceuticals Industries Inc. (NYSE: TEVA) dropped about 1.7% Tuesday to register a new 52-week low of $18.28 after closing at $18.59 on Monday. The 52-week high is $55.39. Volume was around 45 million, about 4 times the daily average. The company had no specific news.
Endo International plc (NASDAQ: ENDP) posted a new 52-week low of $8.26 on Tuesday, down about 11.3% from Monday’s closing price of $9.31 The stock’s 52-week high is $24.93. Volume totaled more than 19 million shares, about 3 times the daily average of around 9 million. The company reported an earnings beat this morning, but lowered guidance combined with a GAAP loss of more than $6 a share settled early the trading outcome for the day.
Plains All American Pipeline LP (NYSE: PAA dropped nearly 21% Tuesday to post a new 52-week low of $20.00 after closing Monday at $25.20. The 52-week high is $33.95. Volume of about 186 million units traded was nearly 8 times the daily average of around 2.5 million. The pipeline MLP missed estimates last night and announce a reduction to it quarterly distributions. Investors really, really hate when that happens.
Whiting Petroleum Corp. (NYSE: WLL) dropped 2% Tuesday to post a new 52-week low of $4.80 after closing at $4.90 on Monday. The stock’s 52-week high is $13.39. Volume of about 16 million was about 20% below the daily average. The company had no specific news.
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