The 52-Week Low Club for Thursday

down market
Source: Thinkstock
August 7, 2014: Stocks making new 52-week lows today included the following four firms. Inc. (NYSE: COUP) saw shares fall to a new 52-week low of $14.90 after posting a wider than expected quarterly loss this morning. The shares tumbled 24%, to trade below the IPO price of $16. The stock’s post-IPO high is $33.00. The stock traded about 5-times its daily average number of shares today, with nearly 1.5 million shares changing hands.

Cobalt International Energy Inc. (NYSE: CIE) dropped about 2.5% on Thursday to post a new 52-week low of $13.54. The 52-week high is $29.79. On Tuesday the company said it received a Wells Notice from the U.S. SEC related to alleged securities laws violations at the company’s Angolan operations. Cobalt’s share volume today was about 15% above its daily average of around 3.2 million shares.

Loews Corp. (NYSE: L) traded down about 1% in the last hour of trading on Thursday after posting a new 52-week low of $41.69. Some analysts have cut earnings estimates for the current quarter and the full-year. The stock’s 52-week high is $49.43.

Transocean Ltd. (NYSE: RIG) dropped about 0.3% today and posted a new 52-week low of $38.01. The 52-week high is $55.74. The company posted a better-than-expected profit Wednesday night, but investors remain cautious on offshore drillers, as witness Monday’s new low for Noble Corp. (NYSE: NE). Volume was heavy at more than double the daily average of about 4.8 million shares traded.

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