The 52-Week Low Club for Friday
ThinkstockAugust 8, 2014: Stocks making new 52-week lows today included the following four firms. Sotheby’s (NYSE: BID) saw shares fall about 12% to a new 52-week low of $35.68 after posting lower-than-expected profits this morning. The stock’s 52-week high is…
August 8, 2014: Stocks making new 52-week lows today included the following four firms.
Sotheby’s (NYSE: BID) saw shares fall about 12% to a new 52-week low of $35.68 after posting lower-than-expected profits this morning. The stock’s 52-week high is $54.00. Shares traded more than 3-times their daily average today, with nearly 3.5 million shares changing hands. Higher salary costs and a costly proxy battle weighed on second-quarter profits.
Post Holdings Corp. (NYSE: POST) dropped about 26% on Friday to post a new 52-week low of $32.87. The 52-week high is $60.63. The company posted a worse-than-expected loss in its third fiscal quarter and the food processor’s buying spree has not yet turned into profits. Share volume was about 15-times the daily average of around 780,000.
Sprint Corp. (NYSE: S) traded down about 6% on Friday to post a new 52-week low of $5.53. The parting of the ways with T-Mobile US Inc. (NYSE: TMUS) combined with T-Mobile’s challenge to Sprint’s position as the number 3 wireless carrier in the U.S. has got investors looking elsewhere. Volume today is about 3-times the daily average of 16.7 million shares traded.
Zynga Inc. (NASDAQ: ZNGA) dropped about 7.5% to post a new 52-week low of $2.70 in the noon hour today. The 52-week high is $5.89. The company reported earnings that missed estimates last night and the company’s outlook is none to encouraging either. Volume is more than 3-times the daily average of around 23 million shares traded.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
