Alibaba Group Holding Ltd. (NYSE: BABA) dropped about 4.7% on Tuesday to establish a new 52-week low at $80.03 against a high of $120.00. Volume was more than double the daily average of around 15.7 million shares. The Chinese Internet giant is facing some regulatory issues, has been reported to be taking some fake orders, and will soon have more shares exit from the post-IPO lockup period.
Helix Energy Solutions Group Inc. (NYSE: HLX) posted a new 52-week low on Tuesday. Shares dropped about 2.1% to $14.75 from Monday’s closing price of $15.07. The stock’s 52-week high is $28.00. Volume is about 30% above the daily average of around 1.8 million shares. The offshore oilfield services company agreed to defer a service contract with BP that was scheduled to begin in the third quarter of this year.
Primoris Services Corp. (NASDAQ: PRIM) dropped nearly 20% on Tuesday to post a new 52-week low of $16.91 after closing at $21.09 on Monday. The stock’s 52-week high is $33.00. Share volume was more than 8-times the daily average of around 300,000 shares traded. The engineering and construction company announced an acquisition today and also posted weak fourth quarter results.
OGE Energy Corp. (NYSE: OGE) dropped less than 1% on Tuesday to post a new 52-week low of $31.57 after closing at $31.80 on Monday. The stock’s 52-week high is $39.28. Share volume was about 25% above the daily average of around 1.3 million shares traded. The utility company had no specific news today and shares recovered to trade up about 1.8% in the late afternoon.