December 8, 2015: Here are four stocks trading with heavy volume among 356 equities making new 52-week lows today. Tuesday’s four stocks are the same as Monday’s for those of you keeping score at home.
Kinder Morgan Inc. (NYSE: KMI) dropped about 8.3% on Tuesday to post a new 52-week low of $15.06 against a 52-week high of $44.71. The stock closed at $16.42 on Monday night. Volume reached nearly 125 million shares, more than 5 times the daily average of around 24 million shares traded. The Wall Street Journal reported this morning that the company’s board is meeting today to consider cutting its dividend payment.
Freeport-McMoRan Inc. (NYSE: FCX) dropped also slipped about 8.3% on Tuesday to post a new 52-week low of $6.63 against a high of $25.13. The stock closed at $7.23 on Monday night. Volume was about 20% higher than the daily average of around nearly 38 million shares traded. The copper and gold miner had no specific news today, but copper prices continue to slide and the company’s oil assets are getting stomped by the market for crude. It’s not pretty.
Staples Inc. (NASDAQ: SPLS) posted a new low on Tuesday. Shares dropped about 8.5% to a low of $9.75 from Monday’s closing price of $10.66. The stock’s 52-week high is $19.40. Volume was nearly 4 times the daily average of around 8.7 million shares. The suit lodged against the merger with Office Depot is driving the sell-of in Staples stock. Office Depot’s stock is not faring any better..
Energy Transfer Equity LP (NYSE: ETE) dropped about 8% on Tuesday to post a new 52-week low at $11.95 after closing at $12.99 on Monday. The stock’s 52-week high is $35.44. Share volume was more than double the daily average of around 12.3 million. Shareholders are probably having a hard time seeing any benefit to the company’s acquisition of Williams given the current turmoil in the pipeline business.
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