September 12, 2014: The following stocks are among the 66 equities making new 52-week lows today:
Owens Corning (NYSE: OC) dropped about 2.2% on Friday to a new 52-week low of $33.56. Share volume is about 40% below the daily average of around 1.5 million. The stock’s 52-week high is $46.64. There was no specific news on the company today, but shares have sunk nearly 18% in the past three months.
Plum Creek Timber Co. Inc. (NYSE: PCL) sank to a new 52-week low on Friday of $39.42. Based on last night’s closing price of $40.52 that’s a drop of 2.7%. The stock’s 52-week high is $50.08.The company had no news today but shares have plunged nearly 22% from the 52-week high set back in November 2013. Trading volume was about 50% above the daily average of around 900,000 shares.
Transocean Ltd. (NYSE: RIG) dropped more than 4% today to post a new 52-week low of $35.79. Share volume was about 2.5-times higher than the average daily volume of around 5.5 million shares. The stock’s 52-week high is $55.74. We could have chosen from among about half a dozen offshore drillers that set new lows today. It’s the old story — low crude oil prices chill new exploration spending.
Vale SA (NYSE: VALE) dropped about 2.5% today to post a new 52-week low of $12.10. Volume is roughly 20% higher than the daily average of around 18 million shares. The huge Brazilian mining firm had no had no news today, but the outlook for iron ore and steel gets weaker all the time. The stock’s 52-week high is $17.14.