The 52-Week Low Club for Friday
Baxter International Inc. (NYSE: BAX) dropped about 2.2% on Friday to establish a new 52-week low at $65.94 against a high of $77.31. Volume was more than 3-times the daily average of around 2.8 million shares. The medical product maker reversed course by early afternoon and appears to be headed for a positive close.
Rocket Fuel Inc. (NASDAQ: FUEL) posted a new 52-week — and all-time — low on Friday. Shares dropped nearly 28% to $10.70 from Thursday’s closing price of $14.77. The stock’s 52-week high is $59.62. Volume is more than 10-times the daily average of around 620,000 shares. The digital advertising company posted weak earnings on Thursday and the stock was downgraded by Oppenheimer this morning.
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) dropped about 1.8% on Friday to post a new 52-week low of $51.15 after closing at $52.09 on Thursday. The stock’s 52-week high is $124.42. Share volume was about equal to the daily average of around 2.4 million shares traded. The China-based Internet and mobile services company received a downgrade yesterday and a price target cut ahead of earnings.
Orion Energy Systems Inc. (NYSEMKT: OESX) dropped about 10% on Friday to post a new 52-week low of $3.61 after closing at $4.01 on Thursday. The stock’s 52-week high is $7.42. Share volume was more than 42-times the daily average of around 72,000 shares traded. The LED lighting maker priced a secondary offering of 4.75 million shares at $3.50 per share this morning.