Michael Kors Holdings Ltd. (NYSE: KORS) dropped more than 24% on Wednesday to post a new 52-week low of $45.90 after closing at $90.59 on Tuesday. The stock’s 52-week high is $97.60. Share volume was more than 62 million shares, far above the daily average of around 2.9 million shares traded. The company this morning posted the weakest quarterly results since its IPO, and a weak outlook only made matters worse.
Peabody Energy Corp. (NYSE: BTU) dropped fractionally on Wednesday to post a new 52-week low of $3.40 after closing at $3.41 on Tuesday. The stock’s 52-week high is $17.31. Share volume totaled around 7.2 million, well below the daily average of around 13.2 million shares traded. The coal miner’s stock had actually tacked on about 15% today to trade at $3.46 shortly before the closing bell.
Fossil Group Inc. (NASDAQ: FOSL) posted a new 52-week low on Wednesday. Shares dropped about 9.4% to $68.55 from Tuesday’s closing price of $75.67. The stock’s 52-week high is $115.20. Volume totaled about 4.5 million shares, well above the daily average of around 1 million shares. The company is likely taking a beating in sympathy with Kors.
Rovi Corp. (NASDAQ: ROVI) dropped about 3.1% on Wednesday to post a new 52-week low of $15.97 against a 52-week high of $26.44. The stock closed at $16.48 on Tuesday night. Volume reached about 3.8 million shares, above the daily average of around 2.3 million shares. The company had no specific news today.
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