Infinera, GNC Join Thursday's 52-Week Low Club
July 28, 2016: Here are four stocks trading with relatively heavy volume among XX equities making new 52-week lows in Thursday’s session. NYSE advancers and decliners were about even and Nasdaq decliners led advancers by about 5 to 4.
Infinera Corp. (NASDAQ: INFN) lost nearly 36% Thursday to post a new 52-week low of $8.03 versus a high of $25.24 after closing Wednesday at $12.51. Volume totaled nearly 19 million shares, about 7 times the daily average of 2.8 million shares. The company beat earnings estimates this morning, but forecast weakening demand and took a downgrade as well.
GNC Holdings Inc. (NYSE: GNC) dropped nearly 26% on Thursday to post a new 52-week low of $20.18 after closing at $27.23 on Wednesday. The stock’s 52-week high is $51.69. Volume was about 6 times the daily average of around 1.7 million shares. The nutritional supplement seller replaced its CEO this morning, suspended its earnings guidance, and stopped its stock buyback program — a triple whammy.
Cameco Corp. (NYSE: CCJ) dropped more than 10% on Thursday to post a new 52-week low of $9.50 against a 52-week high of $14.79. Volume of around 6.8 was more than 4 times the daily average of around 1.6 million. The stock closed at $10.63 on Wednesday night. Weak uranium prices sank earnings and the shares followed close behind.
New York Community Bancorp Inc. (NYSE: NYCB) dropped about 1.2% on Thursday to post a new 52-week low of $14.10 against a 52-week high of $19.18. Volume of around 5 million was about 20% above the daily average of around 4.4 million. The stock closed at $14.27 on Wednesday night. The bank missed expectations when it reported earnings Wednesday morning, and the bleeding hasn’t quite stopped yet.