Source: Thinkstock
Fossil Group Inc. (NASDAQ: FOSL) dropped about 19.5% on Wednesday to establish a new 52-week low at $79.85 against a high of $121.45. Volume was about 14-times the daily average of around 800,000 shares. The watchmaker posted weak results last night, but the really bad news for Fossil today is the imminent introduction of the Apple Watch.
MedAssets Inc. (NASDAQ: MDAS) dropped more than 14% on Wednesday to post a new 52-week low of $17.01 after closing at $19.83 on Tuesday. The stock’s 52-week high is $26.06. Share volume was more than 8-times the daily average of around 400,000 shares traded. The technology provider for hospitals posted after offering weak guidance for 2015.
Knowles Corp. (NYSE: KN) posted a new 52-week low on Wednesday. Shares dropped about 1.3% to $17.09 from Tuesday’s closing price of $17.91. The stock’s 52-week high is $33.82. Volume is about 60% above the daily average of around 1.6 million shares. The technology products maker posted weak revenues and earnings last week and investors have not forgotten.
Armour Residential REIT Inc. (NYSE: ARR) dropped about 1.3% on Wednesday to post a new 52-week low of $3.07 after closing at $3.11 on Tuesday. The stock’s 52-week high is $4.46. Share volume was about 15% below the daily average of around 3.8 million shares traded. The real-estate investment trust took a downgrade to Underperform from Credit Suisse last week.
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