Papa John’s, eBay Drop into Monday’s 52-Week Low Club
AT&T, eBay, Papa John's, and Illinois Tool Works all posted new 52-week lows Monday.
July 23, 2018: Here are four stocks trading with heavy volume among 76 equities making new 52-week lows in Monday’s session. On the NYSE decliners led advancers by about 1.3 to 1 and on the Nasdaq, advancers led decliners by about 1.02 to 1.
AT&T Inc. (NYSE: T) traded nearly 1% Monday to post a new 52-week low of $30.80 after closing Friday at $31.10. The stock’s 52-week high is $39.80. Volume was about 40% below the daily average of about 43 million shares. The company had no specific news.
eBay Inc. (NASDAQ: EBAY) traded down about 2% Monday and posted a new 52-week low of $33.49 after closing Friday at $34.20. The stock’s 52-week high is $46.99. Volume totaled about million, about 30% above the daily average. The company had no specific news but shares still suffer from a weak earnings report last week.
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Papa John’s International Inc. (NASDAQ: PZZA) dropped more than 10% Monday to set a new 52-week low of $46.30. Shares closed at $51.59 on Friday and the stock’s 52-week high is $81.09. Volume totaled more than four times the daily average of around 1.2 million. The company’s board adopted a poison pill over the weekend that would prevent former CEO and chairman John Schnatter from acquiring more stock. Investors sense a nasty battle coming up and may prefer to put their money somewhere less risky.
Illinois Tool Works Inc. (NYSE: ITW) traded down about 8.3% Monday to set a new 52-week low of $134.66. Shares closed at $146.86 on Friday, and the 52-week high is $179.07. Volume was more than three times the daily average of around 1.6 million. The company lowered its outlook this morning.
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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.