General Electric, Abercrombie & Fitch Sink into Monday’s 52-Week Low Club
GE, Abercrombie & Fitch, Intel, and Macy's all posted new 52-week lows Monday.
July 10, 2017: Here are four stocks trading with heavy volume among 110 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.
General Electric Co. (NYSE: GE) dropped about 1.1% Monday to post a new 52-week low of $25.85 after closing Friday at $26.15. The 52-week high is $33.00. Volume was around 31 million shares traded, about 20% below the daily volume of nearly 38 million. The company had no specific news Monday.
Abercrombie & Fitch Inc. (NYSE: ANF) dropped nearly 22% Monday to post a new 52-week low of $9.51 after closing at $12.16 on Friday. The stock’s 52-week high is $23.29. Volume of about 25 million was almost 8 times the daily average of around 3 million. The company said today that it was ending discussions with potential buyers.
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Intel Corp. (NYSE: INTC) dropped about 1.9% Monday to post a new 52-week low of $33.23 after closing at $33.88 on Friday. Volume was about 20 million, around 10% less than the daily average of nearly 22 million shares. Analysts at Jefferies lowered the firm’s rating on Intel to Underperform.
Macy’s Inc. (NYSE: M) posted a new 52-week low of $21.07 on Monday, down about 7% compared with Friday’s closing price of $22.68. The stock’s 52-week high is $45.41. Volume totaled around 17.5 million shares, about double the daily average. The company had no specific news, but retail stocks are susceptible to any potential positive development at Amazon which is beginning is Prime Day promotion Monday evening.
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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.