The 52-Week Low Club for Friday
Pandora Media Inc. (NYSE: P) dropped about 22% on Friday to establish a new 52-week low at $14.33 against a high of $40.44. Volume was more than 5-times the daily average of around 6.3 million shares. The Internet radio company posted weak results and offered soft guidance after markets closed on Thursday.
Yelp Inc. (NYSE: YELP) also dropped about 22% on Friday to post a new 52-week low of $44.86 after closing at $57.47 on Thursday. The stock’s 52-week high is $101.75. Share volume was about 11-times the daily average of around 2.2 million shares traded. The social media ratings site got slammed after reporting slower user growth after markets closed on Thursday.
National Oilwell Varco Inc. (NYSE: NOV) dropped about 7.5% on Friday to post a new 52-week low of $49.25. The stock’s 52-week high is $86.55. Volume was more than double the daily average of around 5.7 million shares. The drill rig company received a downgrade today from Jefferies following weak results reported earlier this week.
The AES Corp. (NYSE: AES) posted a new 52-week low on Friday. Shares dropped about 5.1% to $12.02 from Thursday’s closing price of $12.67. The stock’s 52-week high is $15.65. Volume is about equal to the daily average of around 6 million shares. The utility company sector to a hit today as investors expect the cost of capital to rise based on today’s jobs and unemployment report.