Valeant, American Airlines Repeat in Friday's 52-Week Low Club
June 17, 2016: Here are four stocks trading with relatively heavy volume among 36 equities making new 52-week lows in Friday’s session. NYSE advancers led decliners by less than 3 to 2 while Nasdaq decliners led advancers by about 5 to 4.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) posted a new 52-week low on Friday. Shares traded at a low of $22.24, down about 0.8%, after closing at $22.42 on Thursday. The stock’s 52-week high is $263.81. Volume was about half the daily average of around 35 million shares. The company said it plans to invest $27.5 million to expand its Canadian manufacturing facilities.
American Airlines Group Inc. (NASDAQ: AAL) dropped about 0.6% on Friday to post a new 52-week low of $28.85 against a 52-week high of $47.09. Volume was about 10% below the daily average of around 9.6 million. The stock closed at $29.14 on Thursday night. The airline had no specific news Friday.
Synaptics Inc. (NASDAQ: SYNA) dropped by about 12.6% on Friday to post a new 52-week low at $52.85 after closing at $60.50 on Thursday. The stock’s 52-week high is $100.99. Daily volume totaled around 5 million shares, more than 6 times the daily average of around 730,000. The software maker said this morning that it will lay off about 9% of its workforce and close some offices.
Comtech Telecommunications Corp. (NASDAQ: CMTL) fell by more than 14% on Friday to post a new 52-week low of $13.79 against a high of $30.93. The stock closed at $16.11 on Thursday night. Volume reached about 5.4 million shares, more than 50 times the stock’s daily average of around 110,000. The company priced an offering of 7.15 million shares at $14 this morning.