The 52-Week Low Club for Monday
Cliffs Natural Resources Inc. (NYSE: CLF) dropped about 4.5% Monday, on top of a 4.9% drop last Friday. Monday’s new 52-week low is $10.45. Share volume is 30% higher than the daily average of around 6.5 million. The stock’s 52-week high is $28.98. The iron ore miner’s stock price continues sinking following a report last Thursday that prices have dropped to a 6-year low on lower demand from Chinese steelmakers. Low demand for steel chops demand for iron ore and metallurgical coal.
Michael Kors Holdings Ltd. (NYSE: KORS) dropped about 1.5% today to post a 52-week low of $70.44. Since coming public in late 2011, the share price is up nearly 200%. The 52-week — and all-time — high of $101.04 was posted in late February. Since the end of June the company’s stock has dropped nearly 20%. Share volume for today is about 250% below the average daily of around 3.8 million shares.
Pier 1 Imports Inc. (NYSE: PIR) sank to a new 52-week low on Monday of $11.80. Based on Friday night’s closing price of $12.21 that’s a drop of about 3.5%. The stock’s 52-week high is $23.60. Trading volume about 25% below the daily average of around 2.1 million shares. The company had no specific news today, but appears still to be suffering from a weak earnings report and lowered guidance issued in mid-September.
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) dropped about 3.2% today to post a new 52-week low of $70.10. Volume is about 25% below the daily average of around 3.3 million shares. Analysts are wary of the prospects for China’s mobile game firms like Qihoo 360 and Tencent. Qihoo itself issued a report last week that growth — while still large and rapid — would be lower in each of the next two years. The stock’s 52-week high is $124.42.