Bristol-Myers, Gilead Slide Into Tuesday's 52-Week Low Club
October 11, 2016: Here are four stocks trading with relatively heavy volume among 69 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by about 7 to 1 and on the Nasdaq advancers led decliners by about 5 to 1.
Bristol-Myers Squibb Co. (NYSE: BMY) dropped about 0.6% on Tuesday to post a new 52-week low of $49.50 against a 52-week high of $77.12. Volume of about 21 million was more than 65% above the daily average of around 13 million. The stock closed at $49.81 on Monday night. The company’s disappointing trial of its Opdivo lung cancer treatment continues to plague the drugmaker.
Rent-A-Center Inc. (NASDAQ: RCII) lost nearly 38% Tuesday to post a new 52-week low of $8.00 after closing Monday at $12.88. The 52-week high is $26.26. Volume of nearly 11 million was about 15 times the daily average of less than 800,000 shares traded. The company warned of a third-quarter earnings miss when it reports results later this month.
Gilead Sciences Inc. (NASDAQ: GILD) dropped about 2.6% on Tuesday to post a new 52-week low of $73.56 after closing at $75.49 on Monday. The stock’s 52-week high is $111.11. Volume was about 10% below the daily average of around 10.5 million shares. The company had no specific news Tuesday.
Vodafone Group plc (NASDAQ: VOD) lost about 1.6% Tuesday to post a new 52-week low of $27.80 after closing Monday at $28.26. The 52-week high is $34.70. Volume of around 5.1 million was about 15% above the daily average of around 4.5 million shares traded. The company had no specific news.