The 52-Week Low Club for Tuesday
Avon Products Inc. (NYSE: AVP) posted a new 52-week low on Tuesday of $7.84. Based on Monday night’s closing price of $7.97 that’s a drop of about 1.6%. The stock’s 52-week high is $17.00. Volume is about 20% higher than the daily average of around 9.5 million shares. The company had no specific news today.
Beneficial Mutual Bancorp Inc. (NASDAQ: BNCL) dropped about 10.5% on Tuesday to post a new 52-week low of $10.78. The stock’s 52-week high is $14.35. Volume was was about 100-times higher than the daily average of 150,000 shares. The company announced after the market closed last night that it had completed a conversion from a mutual holding company to a stock holding company, and had completed a related stock offering as part of the conversion.
CVR Refining LP (NYSE: CVRR) dropped nearly 11% on Tuesday to post a new 52-week — and all-time — low of $14.86 after closing at $16.67 on Monday. The stock’s 52-week high is $28.55. Share volume is about 3-times the daily average of around 500,000 shares traded. Refining companies are being hit on concerns that gasoline demand will not support profitable pricing, even though crude oil is priced so low.
Ocwen Financial Corp. (NYSE: OCN) dropped nearly 40% on Tuesday to establish a new 52-week low at $7.38 against a high of $55.87. Volume was more than 5-times the daily average of around 4.7 million shares. Shares swooned on news that California, the company’s largest market, may suspend Ocwen’s license to collect payments in the state.