The 52-Week Low Club for Wednesday
Avon Products Inc. (NYSE: AVP) dropped about 3% on Wednesday to post a new 52-week low of $7.10 after closing at $7.32 on Tuesday. The stock’s 52-week high is $15.80. Share volume was about 10% above the daily average of around 12.4 million shares traded. The company had no news today, and shares turned around following the FOMC announcement to add 3.4% for the day.
Cliffs Natural Resources Inc. (NYSE: CLF) dropped about 9.3% on Wednesday to post a new 52-week low of $4.12 against a 52-week high of $21.25. Shares closed at $4.54 Tuesday night. Volume was about 15-times the daily average of around 700,000 shares. The iron ore miner was hit today following a lowered forecast for iron ore pricing.
Philip Morris International Inc. (NYSE: PM) posted a new 52-week low on Wednesday. Shares dropped about 1.7% to $76.59 from Tuesday’s closing price of $77.89. The stock’s 52-week high is $91.63. Volume is about 15% higher than the daily average of around5 million shares. The tobacco company faltered on news that philanthropists Michael Bloomberg and Bill Gates have created a fund to help countries fight back against tobacco company efforts to overturn anti-tobacco legislation.
Willbros Group Inc. (NYSE: WG) dropped nearly 73% on Wednesday to post a new 52-week low of $1.50 after closing at $5.48 on Tuesday. The stock’s 52-week high is $13.69. Share volume exceeded 30-times the daily average of around 400,000 shares traded. The oil and gas industry services company announced a delay in filing its 2014 annual report as it negotiates with lenders for waivers and amendments to credit agreements.