Teva, Viacom Sink into Friday's 52-Week Low Club
August 4, 2017: Here are four stocks trading with heavy volume among 131 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq advancers led decliners by about 4 to 3.
Teva Pharmaceuticals Industries Inc. (NYSE: TEVA) dropped about 14% Friday to register a new 52-week low of $20.41 after closing at $23.75 on Thursday. The 52-week high is $55.45. Volume was over 80 million, about 8 times the daily average. The company reported a second-quarter loss on Thursday and slashed its outlook as competition is cutting into revenue. The shares have lost $11 in just two days.
Viacom Inc. (NASDAQ: VIAB) posted a new 52-week low of $30.26 on Friday, down about 13.7% from Thursday’s closing price of $35.07. The stock’s 52-week high is $46.72. Volume totaled nearly 20 million shares, almost four times the daily average of around 5.4 million. The media company missed revenue estimates this morning and offered a soft outlook.
Gastar Exploration Inc. (NYSEMKT: GST) dropped about 55% Friday to post a new 52-week low of $0.38 after closing Thursday at $0.83. The 52-week high is $2.19. Volume approached 20 million shares traded, about 10 times the daily average of around 2.1 million. The company reported second quarter results last night and announced at the same time the suspension of dividend payments on its Series A and Series B preferred stock. Dividends will continue to accrue however, whether declared or not.
Southwestern Energy Inc. (NYSE: SWN) dropped about 4.2% Friday to post a new 52-week low of $5.00 after closing at $5.22 on Thursday. The stock’s 52-week high is $15.59. Volume of about 18 million was 10% below the daily average. The company missed estimates for profits and revenues when it reported results last night.