Wells Fargo, Neurocrine Drop into Wednesday’s 52-Week Low Club

December 12, 2018 by Paul Ausick

December 12, 2018: Here are four stocks trading with heavy volume among 243 equities making new 52-week lows Wednesday. On the NYSE, advancers led decliners by about 2.48 to 1 and advancers led decliners on the Nasdaq by about 2.5 to 1.

All three major indexes are on track close the day up by about 1% or more. Crude oil traded down about 1% on the day to settle at $51.15 a barrel. Gold settled up 0.2% at $1,250.00.

Wells Fargo & Co. (NYSE: WFC) traded down about 1.9% at $46.85 Wednesday after closing at $47.76 on Tuesday. The stock’s 52-week high is $66.31. Volume was nearly 50% above the daily average of around 22.5 million. The big bank had no specific news and shares turned around and are on track for a modest gain in today’s session.

Weatherford International plc (NYSE: WFT) dropped about 4.4% Wednesday to set a new 52-week low of $0.42. Shares closed at $0.45 on Tuesday and the stock’s 52-week high is $4.41. Volume was about 15% lower than the daily average of around 24 million. The oilfield services company had no specific news. Shares have reversed course and look to be set to post a gain of around 4% for the day.

Huntington Bancshares Inc. (NASDAQ: HBAN) traded down about 0.8% Wednesday and posted a new 52-week low of $12.66 after closing Tuesday at $12.76. The stock’s 52-week high is $16.60. Volume was about 10% higher than the daily average of around 13 million. The company has agreed to sell 32 branches in Wisconsin. The bank’s stock has also reversed direction and looks on track for a gain of around 0.1% for the day.

Neurocrine Biosciences Inc. (NASDAQ: NBIX) traded down nearly 25% to post a new 52-week low of $64.72 Wednesday after closing at $85.76 on Tuesday. The stock’s 52-week high is $126.98 and volume was more than 12 times the daily average of around 900,000. The company said this morning that its treatment for Tourette syndrome failed to reach a primary study goal.

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