Frontier Communications, Seadrill Tumble Into Friday’s 52-Week Low Club
May 5, 2017 by Paul AusickMay 5, 2017: Here are four stocks trading with relatively heavy volume among 109 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by 7 to 3 and on the Nasdaq advancers led decliners by 4 to 3.
Frontier Communications Corp. (NASDAQ: FTR) dropped about 2.1% Friday to post a new 52-week low of $1.40 after closing at $1.43 on Thursday. The stock’s 52-week high is $5.53. Volume of about 29 million was about 45% below the daily average of around 46.7 million shares traded. The company had no specific news and is on track to post a daily gain of around 2%.
Seadrill Ltd. (NYSE: SDRL) posted a new 52-week low of $0.56 on Friday, down more than 1.7% compared with Thursday’s closing price of $0.57. The stock’s 52-week high is $4.59. Volume totaled around nearly 7.1 million shares, just about half the daily average of 13.6 million. The company had no specific news Friday and shares are on track to close with a gain of 10% for the day.
Cobalt International Energy Inc. (NYSE: CIE) dropped about 6.7% Friday to post a new 52-week low of $0.28 after closing at $0.30 on Thursday. The stock’s 52-week high is $2.98. Volume was about 40% below the daily average of around 10 million shares. The company had no specific news.
AmpliPhi Biosciences Corp. (NYSEMKT: APHB)) dropped about 60% Friday to post a new 52-week low of $1.16 after closing Thursday at $2.90. The 52-week high is $22.50. Volume of around 5 million shares was more than 10 times the daily average of around 500,000. The company priced a secondary offering of about 7 million shares and warrants at $1.50 per unit.
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