Kroger, Teva Slip into Wednesday's 52-Week Low Club
October 5, 2016: Here are four stocks trading with relatively heavy volume among 25 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by nearly 2 to 1 and on the Nasdaq advancers led decliners by about the same margin.
The Kroger Co. (NYSE: KR) lost about 0.8% Wednesday to post a new 52-week low of $28.76 after closing Tuesday at $29.00. The 52-week high is $42.75. Volume of around 22 million was more than double the daily average of around 10 million shares traded. The company had no specific news Wednesday. The stock had traded above $29 a share in the mid-afternoon and is on track to post either a small loss or a small gain at the end of the trading session.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) dropped about 1.5% on Wednesday to post a new 52-week low of $44.60 against a 52-week high of $66.55. Volume of about 7.9 million was about 20% above the daily average of 6.3 million shares traded. The company said this afternoon that it is selling some U.K. Actavis assets to Accord Healthcare Ltd.
CVS Health Corp. (NYSE: CVX)) dropped about 0.4% on Wednesday to post a new 52-week low of $85.89 after closing at $86.22 on Tuesday. The stock’s 52-week high is $106.67. Volume was about 10% higher than the daily average of around 4.9 million shares. The company had no specific news Wednesday, but yesterday’s announcement that CVS had lost a significant U.S. military account continues to dog the stock.
Equity Residential (NYSE: EQR) dropped about 2.4% on Wednesday to post a new 52-week low of $61.01 against a 52-week high of $82.39. Volume of about 3.1 million was nearly 25% above the daily average of around 2.5 million. The stock closed at $62.51 on Tuesday night. The REIT had no specific news Wednesday.