HP Enterprise, Qualcomm Shamble into Wednesday’s 52-Week Low Club
Hewlett Packard Enterprise, Qualcomm, Teva Pharmaceuticals, and Mattel all posted new 52-week lows Wednesday.
September 6, 2017: Here are four stocks trading with heavy volume among 74 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by nearly 3 to 2 and on the Nasdaq advancers led decliners by about 4 to 3.
Hewlett Packard Enterprise Co. (NYSE: HPE) posted a new 52-week low of $13.60 on Wednesday, down about 3.1% from Tuesday’s closing price of $14.04. The stock’s 52-week high is $14.86. Volume totaled around 33 million shares, about 15% above the daily average. The company reported earnings last night, but the better-than -expected results couldn’t keep the stock from dipping in today’s trading.
Qualcomm Inc. (NASDAQ: QCOM) dropped about 0.4% Wednesday to match its 52-week low of $49.83 after closing at $50.03 on Tuesday. The 52-week high is $71.62. Volume was around 12 million, about 50% higher than the daily average. On Tuesday, the company’s appeal for a stay in a South Korean court case was denied and the effects lingered on for another day.
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Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) dropped about 1.2% Wednesday to post a new 52-week low of $15.22 after closing Tuesday at $15.41. The 52-week high is $52.66. Volume of around 11 million shares traded was about 30% below the daily average. The company had no specific news.
Mattel Inc. (NASDAQ: MAT) dropped about 3.8% Wednesday to post a new 52-week low of $15.60 after closing at $16.21 on Tuesday. The stock’s 52-week high is $33.23. Volume of around 9 million was about 30% below 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.