August 3, 2017: Here are four stocks trading with heavy volume among 159 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by about 17 to 13 and on the Nasdaq decliners led advancers by a about 17 to 12.
Teva Pharmaceuticals Industries Inc. (NYSE: TEVA) dropped about 25% Thursday to register a new 52-week low of $23.33 after closing at $31.25 on Wednesday. The 52-week high is $55.79. Volume was nearly 97 million, nearly 8 times the daily average. The company reported a second-quarter loss and slashed its outlook as competition is cutting into revenue.
CenturyLink Inc. (NYSE: CTL) posted a new 52-week low of $21.62 on Thursday, down about 8.9% from Wednesday’s closing price of $23.74. The stock’s 52-week high is $33.45. Volume totaled around 20 million shares, double the daily average of around 10 million. The telecom firm missed expectations this morning and lowered guidance — a potent one-two punch to the stock price.
Parsley Energy Inc. (NYSE: PE) dropped about 9.9% Thursday to post a new 52-week low of $24.68 after closing Wednesday at $27.39. The 52-week high is $39.82. Volume topped 18 million shares traded, about 4 times the daily average of around 4.5 million. The company missed some forecasts, but did raise its production guidance for the rest of the year. Not good enough for investors though.
Windstream Holdings Inc. (NASDAQ: WIN) dropped more than 36% Thursday to post a new 52-week low of $2.37 after closing at $3.72 on Wednesday. The stock’s 52-week high is $10.46. Volume of about 17 million was more than 5 times the daily average. The company posted a net loss of $68 million in the second-quarter, but much more important was the elimination of the firm’s majestic $0.15 per share quarterly dividend.