The 52-Week Low Club for Tuesday
Host Hotels & Resorts Inc. (NYSE: HST) posted a new 52-week low on Tuesday. Shares dropped about 4.7% to a low of $16.85 from Monday’s closing price of $17.68. The stock’s 52-week high is $24.50. Volume was about 75% above the daily average of around 7.6 million. The company said yesterday that holders of certain senior debt may require exercise put options that require Host to buy back the debt at a cash price estimated at $391.3 million.
Xenoport Inc. (NASDAQ: XNPT) dropped about 28.7% on Tuesday to post a new 52-week low of $4.80 against a 52-week high of $9.60. The stock closed at $6.73 on Monday night. Volume is more than 25 times the daily average of around 540,000 shares traded. The company reported this morning that a Phase 2 study showed that its psoriasis drug had some troubling side effects. In Tuesday’s pre-market session the shares soared.
The AES Corp. (NYSE: AES) dropped less than 1% on Tuesday to post a new 52-week low at $10.99 after closing at $11.07 on Tuesday. The stock’s 52-week high is $14.73. Share volume was about 25% below the daily average of around 5.5 million. Ahead of the FOMC meeting this week investors are concerned that utility companies will be hurt by rising interest rates.
Silver Wheaton Corp. (NYSE: SLW) dropped less than 1% on Tuesday to set a new 52-week low of $47.88 after closing at $47.98 on Monday. The stock’s 52-week high is $76.59. Share volume was about half the daily average of around 6.2 million. The company’s Chemours spin-off faces the first lawsuit in a stack claiming the company allowed a chemical used in making Teflon to get into the water supply of an Ohio town and caused her to contract kidney cancer.