Bristol-Myers, Verifone Dive into Friday’s 52-Week Low Club

September 2, 2016 by Paul Ausick

September 2, 2016: Here are four stocks trading with relatively heavy volume among 21 equities making new 52-week lows in Friday’s session. NYSE advancers led decliners by nearly 4 to 1 and Nasdaq advancers led decliners by more than 2 to 1.

Bristol-Myers Squibb Co. (NYSE: BMY) lost about 2.9% Friday to post a new 52-week low of $55.11 after closing Thursday at $56.76. The 52-week high is $77.12. Volume of more than 28 million was nearly 3 times the daily average of around 9.8 million. The company had no specific news Friday, but rival Roche got some good news on its own lung cancer drug that could challenge BMY’s Opdivo treatment.

Verifone Systems Inc. (NYSE: PAY) dropped about 20% on Friday to post a new 52-week low of $16.07 against a 52-week high of $31.24. Volume of around 23 million was more than 7 times the daily average of around 3.3 million. The stock closed at $20.10 on Thursday night. The company’s quarterly earnings disappointed investors and the outlook added to the gloom.

Dynavax Technologies Corp. (NASDAQ: DVAX) dropped more than 36% on Friday to post a new 52-week low of $10.14 after closing at $15.94 on Thursday. The stock’s 52-week high is $32.49. Volume was more than 20 times the daily average of around 560,000 shares. The U.S. FDA has cancelled a November meeting related to Dynavax’s hepatitis C vaccine.

Gilead Sciences Inc. (NASDAQ: GILD) dropped about 1% on Friday to post a new 52-week low of $76.67 against a 52-week high of $113.31. Volume of around 6.5 million was about 35% below the daily average of nearly 10.3 million. The stock closed at $77.42 on Thursday night. The company had no specific news Friday.

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