The 52-Week Low Club for Thursday
February 18, 2016: Here are four stocks trading with heavy volume among 48 equities making new 52-week lows today.
Arris International plc (NASDAQ: ARRS) dropped more than 16% on Thursday to post a new 52-week low at $20.27 after closing at $24.24 on Wednesday. The stock’s 52-week high is $37.50. Share volume totaled nearly 5 times the daily average of around 2.6 million shares traded. The networking and communications equipment maker reported soft revenue last night and weak guidance to go along with it.
Jack in the Box Inc. (NASDAQ: JACK) posted a new 52-week low on Thursday. Shares traded at a low of $62.20, down about 19%, after closing at $76.91 on Wednesday. The stock’s 52-week high is $99.99. Volume totaled nearly 10 times the daily average of around 750,000 shares. The fast-food operator posted disappointing results after markets closed on Wednesday.
Perrigo Company PLC (NYSE: PRGO) fell by more than 11% on Thursday to post a new 52-week low of $128.66 against a high of $215.73. The stock closed at $145.17 on Wednesday night. Volume rose to about 6.6 million, roughly 4 times the daily average of about 1.6 million shares traded. The drugmaker missed on both earnings and revenue estimates last night.
Invacare Corp. (NYSE: IVC) dropped more than 7.6% on Thursday to post a new 52-week low of $11.83 against a 52-week high of $23.59. The stock closed at $12.81 on Wednesday night. Volume was more than 20 times the stock’s daily average volume of around 200,000. The medical equipment maker priced a $130 million convertible senior note offering at an initial conversion price of about $16.65 per common share, a 30% premium to last night’s closing price.