Teva, Gilead Sciences Tumble into Monday’s 52-Week Low Club
DryShips, Teva, Endo Pharma, and Gilead Sciences posted new 52-week lows Monday.
[cnxvideo id=”510062″ placement=”ros”]January 23, 2017: Here are four stocks trading with relatively heavy volume among 56 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq decliners led advancers by about 4 to 3.
DryShips Inc. (NASDAQ: DRYS) dropped about 35% on Monday to post a new 52-week low of $5.28 against a 52-week high of $278.40 and a Friday close of $1.01. Volume of around 12.5 million was about equal to the daily average of around 13 million. Shares began trading this morning after a 1-for-8 reverse stock split that valued the new shares at about $8.00.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) dropped about 3.4% Monday to post a new 52-week low of $32.11 after closing Friday at $33.23. The 52-week high is $64.31. Volume of around 11 million was about 10% above the daily average of around 10.4 million shares traded. The company had no specific news.
Endo International plc (NASDAQ: ENDP) dropped about 6.6% on Monday to post a new 52-week low of $11.52 after closing at $12.34 on Friday. Volume was about 75% above the daily average of around 5.8 million. The company announced a settlement in an FTC lawsuit related to payments to competitors to delay introducing new generic drugs.
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Gilead Sciences Inc. (NASDAQ: GILD) dropped about 1% Monday, to post a new 52-week low of $70.30 after closing at $71.01 on Friday. The stock’s 52-week high is $103.10. Volume was about 10% below the daily average of around 9.8 million shares. The company had no specific news Monday.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.