Walgreens, Starbucks Straggle into Thursday's 52-Week Low Club
June 28, 2018: Here are four stocks trading with heavy volume among 221 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by about 1.46 to 1 and on the Nasdaq, decliners led advancers by about 1.23 to 1.
Walgreens Boots Alliance Inc. (NASDAQ: WBA) traded down about nearly 11% Thursday to post a new 52-week low of $59.07 after closing Wednesday at $66.26. The stock’s 52-week high is $83.89. Volume was nearly six times the daily average of around 5.8million shares. The newest Dow component reported quarterly earnings this morning that did not please investors. Shares were hammered, though, by an announcement that Amazon is acquiring a pharmacy company. Pharmacy stocks were pummelled on the news.
Starbucks Corp. (NYSE: SBUX) fell about 5% Thursday to post a new 52-week low of $47.37. Shares closed at $49.84 on Wednesday. The 52-week high is $61.94. Volume of around 28 million was about three times the daily average. The company’s 50-year old CFO announced his retirement this morning.
ICICI Bank Ltd. (NYSE: IBN) dropped about 4% Thursday to post a new 52-week low of $7.75. Shares closed at $8.08 on Wednesday and the stock’s 52-week high is $11.26. Volume totaled about 12.8 million shares compared to a daily average of about 7 million. The company had no specific news.
Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) traded down about 26% Thursday and posted a new 52-week low of $3.30 after closing Wednesday at $4.48. The stock’s 52-week high is $8.38. Volume totaled about 9 million, roughly nine times the daily average. The company announced a merger this morning with Akebia Therapeutics.