February 16, 2016: Here are four stocks trading with heavy volume among 60 equities making new 52-week lows today.
Community Health Systems Inc. (NYSE: CYH) dropped about 31% on Tuesday to post a new 52-week low at $12.86 after closing at $18.68 on Friday. The stock’s 52-week high is $65.00. Share volume totaled about 8 times the daily average of around 3 million shares traded. The hospital operator reported weak earnings Tuesday morning on fewer hospitalizations and a poor (for the company) flu season.
Gogo Inc. (NASDAQ: GOGO) posted a new 52-week low on Tuesday. Shares traded at a low of $7.90, down about 43%, after closing at $13.89 on Friday. The stock’s 52-week high is $23.20. Volume totaled more than 20 times the daily average of around 700,000 shares. The WiFi provider for airlines was sued by American Airlines which intends to switch communications services providers to ViaSat.
Tenet Healthcare Corp. (NYSE: THC) fell by nearly 11% on Tuesday to post a new 52-week low of $21.38 against a high of $60.93. The stock closed at $24.00 on Friday night. Volume rose to about 3.1 million, roughly 40% above the daily average of about 2.6 million shares traded. The company reports earnings next week and the weakness in Community Health’s report has probably contributed to Tenet’s share price drop today.
Tesoro Corp. (NYSE: TSO) dropped about 3.2% on Tuesday to post a new 52-week low of $68.77 against a 52-week high of $119.67. The stock closed at $71.01 on Friday night. Volume was about equal to the stock’s daily average volume of around 4.5 million. The oil refiner had no specific news today.