Discovery, Eldorado Gold Dip into Monday’s 52-Week Low Club
Discovery Communications, Eldorado Gold, Fluor, and Johnson Controls all set new 52-week lows Monday.
July 31, 2017: Here are four stocks trading with heavy volume among 82equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by about 17 to 13 and on the Nasdaq, decliners led advancers by a narrow 15 to 14.
Discovery Communications Inc. (NASDAQ: DISCK) dropped more than 10% Monday to register a new 52-week low of $60.01 after closing at $73.96 on Friday. The 52-week high is is $77.79. Volume was over 50 million, almost 10 times the daily average of around 5.5 million shares. The communications firm agreed this morning to pay $14.6 billion to acquire Scripps.
Eldorado Gold Corp. (NYSE: EGO) dropped about 9.3% Monday to post a new 52-week low of $2.05 after closing Friday at $2.26. The 52-week high is $4.38. Volume reached over 8 million shares traded, or about 10% above the daily average of around 7.8 million. The company met profit estimates but missed on revenues and shares were downgraded to Underperform at Credit Suisse.
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Johnson Controls International plc (NYSE: JCI) posted a new 52-week low of $38.65 on Monday, down about 2.5% from Friday’s closing price of $39.64. The stock’s 52-week high is $50.65. Volume totaled around 15.9 million shares, about 20% above the daily average of around 4.9million. The company had no specific news Monday.
Fluor Corp. (NYSE: FLR) dropped about 6.3% Monday to post a new 52-week low of $41.78 after closing at $44.58 on Friday. The stock’s 52-week high is $58.37. Volume of about 3.5 million was more than double the daily average. The company had no specific news.
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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.