Source: Thinkstock
BP plc (NYSE: BP) posted a new 52-week low on Friday of $36.33. Based on Thursday night’s closing price of $37.33 that’s a drop of about 2.8%. The stock’s 52-week high is $53.48. Trading was about 50% higher than the stock’s average daily volume of about 6.8 million shares traded. Crude oil dropped below $58 a barrel today, and there’s really nothing else to say about BP or any other oil or oilfield services company today.
Freeport-McMoRan Inc. (NYSE: FCX) dropped about 4.9% Friday to post a new 52-week low of $21.86. The stock’s 52-week high is $39.32. Volume rose to nearly double the daily average of around 13 million shares. Gold fell for the third straight day today and copper got some harsh words from Morningstar this morning on prospects for next year’s demand in China.
Sprint Corp. (NYSE: S) posted a drop of 8.4% today to establish a new 52-week low of $4.03 against a high of $11.47. Volume was about 90% of the daily average of around 25 million shares. The company just announced yet another low-cost pricing plan to staunch the flow of subscribers away for the wireless carrier.
Verizon Communications Inc. (NYSE: VZ) dropped about 2.2% on Friday to post a new 52-week low of $45.32 after closing at $46.36 on Thursday. The stock’s 52-week high is $53.66. Share volume is nearly 25% higher than the 15 million daily average shares traded. Verizon has already said that it expects profits to be down in the fourth quarter due to intense price competition. Now the company’s debt is growing after the latest round of spectrum auction, and corporate debt is less attractive to investors.
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