Arconic, Andeavor Logistics Tumble into Monday’s 52-Week Low Club
Comcast, Arconic, Andeavor Logistics, and Radian Group all posted new 52-week lows Monday.
April 30, 2018: Here are four stocks trading with heavy volume among 93 equities making new 52-week lows in Monday’s session. On the NYSE decliners led advancers by about 3 to 2 and on the Nasdaq, decliners led advancers by about 9 to 5.
Comcast Corp. (NASDAQ: CMCSA) dropped about 1.4% Monday to post a new 52-week low of $31.38. Shares closed at $31.81 on Friday and the stock’s 52-week high is $44.00. Volume of nearly 28 million shares was nearly equal to the daily average of around 29 million shares. The company had no specific news.
Arconix (NYSE: ARNC) fell by about 20% Monday to post a new 52-week low of $17.90 after closing at $22.44 on Friday. The 52-week high is $31.17. Volume of about 21 million was about five times the daily average of about 4 million. The company posted narrow beats for the first quarter, but slashed guidance for the rest of the year.
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Andeavor Logistics LP (NYSE: ANDX) traded down nearly 14% Monday and posted a new 52-week low of $41.27 after closing Friday at $47.81. The stock’s 52-week high is $55.58. Volume totaled around 4.8 million, nearly 10 times the daily average. The energy midstream company is included in Marathon Petroleum’s acquisition of Andeavor.
Radian Group Inc. (NYSE: RDN) traded down about 5.7% Monday to post a new 52-week low of $14.06 after closing Friday at $14.91. The stock’s 52-week high is $23.49. Volume was more than double the daily average of around 2 million shares. 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.