The 52-Week Low Club for Monday
February 29, 2016: Here are four stocks trading with heavy volume among 30 equities making new 52-week lows today.
Endo International plc (NASDAQ: ENDP) dropped about 22% on Monday to post a new 52-week low of $41.03 against a 52-week high of $96.58. The stock closed at $52.94 on Friday night. Volume rose to more than 17 million shares, about 3 times the stock’s daily average volume of around 3.7 million. The Dublin, Ireland-based specialty drug maker will close its women’s health division by the end of March after failing to find a buyer for the division which has been troubled by lawsuits related to vaginal mesh products.
Ocwen Financial Corp. (NYSE: OCN) posted a new 52-week low on Monday. Shares traded at a low of $3.94, down about 36%, after closing at $6.15 on Friday. The stock’s 52-week high is $11.82. Volume totaled about 4 times the daily average of around 2.4 million shares. The financial firm missed revenue estimates Monday morning and also posted a net loss.
United Natural Foods Inc. (NASDAQ: UNFI) fell by about 24% on Monday to post a new 52-week low of $29.76 against a high of $83.91. The stock closed at $39.25 on Friday night. Volume rose to about 7.3 million, more than 7 times the daily average of about 960,000 shares traded. The company released preliminary results this morning that were short of estimates and also announced a $217.5 million acquisition.
American International Group Inc. (NYSE: AIG) dropped by about 1.7% on Monday to post a new 52-week low at $50.22 after closing at $51.09 on Friday. The stock’s 52-week high is $64.93. Share volume totaled about 20% less than the daily average of 10.2 million shares traded. The multinational insurer settled a $2 billion lawsuit with Coventry First related to AIG affiliate Lavastone Capital LLC. No dollar amount was disclosed.