PG&E, Tailored Brands Plunge into Monday's 52-Week Low Club
January 14, 2019: Here are four stocks trading with heavy volume among 28 equities that posted new 52-week lows Monday. On the NYSE, decliners led advancers by about 1.38 to 1 and decliners led advancers on the Nasdaq by about 1.65 to 1.
The three major indexes are all on track to post modest losses below 1% in Monday’s trading session. Crude oil traded down about 2.1% on the day to settle at $50.51 a barrel. Gold settled up about 0.2% at $1,291.30 for the day.
PG&E Corp. (NYSE: PCG) traded down about 54% Monday and posted a new 52-week low of $8.19 after closing Friday at $17.59. The stock’s 52-week high is $49.42. Volume was about six times the daily average of around 13.5 million. The utility giant said that it plans to file for bankruptcy protection by the end of this month.
Tailored Brands Inc. (NYSE: TLRD) traded down nearly 19% to post a new 52-week low of $11.90 Monday after closing at $14.68 on Friday. The stock’s 52-week high is $35.94 and volume was more than double the daily average of around 1.7 million. The clothing retailer that owns Men’s Wearhouse and Jos A Banks stores, among other brands, lowered its fiscal 2018 earnings outlook this morning and investors lower its share price in response.
Grupo Televisa SAB (NYSE: TV) dropped about 0.9% Monday to set a new 52-week low of $12.19. Shares closed at $12.30 on Friday and the stock’s 52-week high is $21.41. Volume was around 50% higher than the daily average of about 1.8 million. The Spanish-language media company had no specific news. The stock reversed course after an early dip and now appears on track to rack up a 2.7% gain for the day.
Clearway Energy Inc. (NYSE: CWEN) traded down about 12% to post a new 52-week low of $14.28 Monday after closing at $16.24 on Friday. The stock’s 52-week high is $20.75. Volume was nearly four times the daily average of around 670,000. The renewable energy company had no specific news.