Gilead, Ceasars in Monday's 52-Week Low Club
August 29, 2016: Here are four stocks trading with relatively heavy volume among 21 equities making new 52-week lows in Monday’s session. NYSE advancers led decliners by about 7 to 3 and Nasdaq advancers led decliners by about 3 to 2.
Gilead Sciences Inc. (NASDAQ: GILD) dropped about 2.7% on Monday to post a new 52-week low of $77.63 after closing at $79.77 on Friday. The stock’s 52-week high is $113.31. Volume was about 30% above the daily average of around 10 million shares. Investors were reacting to news that competitor GlaxoSmithKline believes it can develop a new treatment for HIV.
Noble Corp. plc (NYSE: NE) lost about 0.7% Monday to post a new 52-week low of $5.75 after closing Friday at $5.79. The 52-week high is $14.64. Volume of around 6 million was about 35% below the daily average of around 8.7 million. The company had no specific news Monday, and bounced back later in the day to close up about 2%.
Ceasars Entertainment Corp. (NASDAQ: CZR) dropped about 28% on Monday to post a new 52-week low of $5.39 against a 52-week high of $9.91. Volume of around 5.6 million was about 7 times the daily average of around 840,000. The stock closed at $7.53 on Friday night. The casino company received an unfavorable court ruling this morning. https://247wallst.com/casinos-hotels/2016/08/29/caesars-shares-bust-on-bankruptcy-ruling/
Tegna Inc. (NYSE: TGNA) dropped about 2.8% on Monday to post a new 52-week low of $20.31 against a 52-week high of $28.95. Volume of around 2 million was about 20% above the daily average of around 1.6 million. The stock closed at $20.89 on Friday night. The company had no specific news Monday.