December 1, 2015: Here are four stocks trading with heavy volume among 57 equities making new 52-week lows today.
Kinder Morgan Inc. (NYSE: KMI) dropped about 5.1% on Tuesday to post a new 52-week low of $22.37 against a 52-week high of $44.71. The stock closed at $23.57 on Monday night. Volume was about 30% above the daily average of around 18 million shares traded. The company’s debt was downgraded at Moody’s today.
Vale SA (NYSE: VALE) posted a new low on Tuesday. Shares dropped about 2.7% to a low of $3.26 from Monday’s closing price of $3.37. The stock’s 52-week high is $9.14. Volume was about 25% below the daily average of around 25.7 million shares. The company estimated a negative impact of $443 million related to the recent dam failure, and is also planning to cut spending next year..
Joy Global Inc. (NYSE: JOY) dropped more than 15% on Tuesday to post a new 52-week low of $13.00 against a high of $54.19. The stock closed at $15.35 on Monday night. Volume totaled about 3 times the daily average of around 5.3 million shares traded. The heavy equipment maker’s rating was cut to Underperform at Merrill Lynch today.
Cummins Inc. (NYSE: CMI) dropped by about 8.4% on Tuesday to post a new 52-week low at $91.92 after closing at $100.37 on Monday. The stock’s 52-week high is $151.25. Share volume was about 5 times the daily average of around 2.2 million. The engine maker was also hit with a downgrade from Merrill Lynch today.