October 10, 2014: Friday’s sell-off has been worst in tech stocks, but basic materials, industrials, telecoms, and oil & gas stocks were not a lot better Here are four stocks among the 573 equities making new 52-week lows today:
Caesars Entertainment Corp. (NASDAQ: CZR) dropped about 14.7% Friday to a new 52-week low of $9.43 after closing at $11.06 on Thursday evening. Share volume is about double the daily average of around 1.3 million. The casino operator named a new chief accounting officer today, but the drop is likely due to the lingering effects of Tuesday’s news that bondholders filed a default notice against the company.
The Mosaic Co. (NYSE: MOS) dropped about 1.5% today to post a 52-week low of $41.42. The stock’s 52-week high is $51.25. The fertilizer maker cut its phosphate production last week due to high input costs, but has had no new since. Trading volume is about equal to the daily average of around 2.5 million shares traded.
Pandora Media Inc. (NYSE: P) sank to a new 52-week low on Thursday of $20.66. Based on Thursday night’s closing price of $22.72 that’s a drop of about 9%. The stock’s 52-week high is $40.44. Trading volume is about a third higher than the daily average of around 6.6 million shares. The company had no specific news today, but was hit hard by the swoon in tech stocks.
Procera Networks Inc. (NASDAQ: PKT) posted a drop of nearly 35% today to a new 52-week low of $5.61 against a 52-week high of $115.45. Volume is more than 10-times the daily average of around 220,000 shares. The company lowered its guidance and now forecasts an adjusted net loss for both the third and fourth quarters.
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