Nordstrom, Tailored Brands Drop Into Wednesday's 52-Week Low Club
January 16, 2019: Here are four stocks trading with heavy volume among just 15 equities that have posted new 52-week lows by the noon hour Wednesday. On the New York Stock Exchange, advancers led decliners by about 1.6 to 1.0 and advancers led decliners on the Nasdaq by about 1.6 to 1.0.
The three major indexes were all trading moderately higher. Crude oil traded down about 0.3% on the day at $51.91 a barrel. Gold traded up about 0.5% at $1,294.80 for the day.
Nordstrom Inc. (NYSE: JWN) traded down nearly 8.9% Wednesday and posted a new 52-week low of $43.05, after closing Tuesday at $47.26. The stock’s 52-week high is $67.75. Volume was more than double the daily average of around 3 million. The retailer reported disappointing holiday sales this morning.
Electronics for Imaging Inc. (NASDAQ: EFII) traded down about 27% to post a new 52-week low of $19.80 Wednesday, after closing at $27.18 on Tuesday. The stock’s 52-week high is $35.62. Volume was nearly eight times the daily average of around 550,000. The company lowered its fourth-quarter guidance this morning.
Tailored Brands Inc. (NYSE: TLRD) traded down about 2.4% to post a new 52-week low of $11.68 Wednesday, after closing at $11.97 on Tuesday. The stock’s 52-week high is $35.94, and volume was about half the daily average of around 1.8 million. The clothing retailer that owns Men’s Wearhouse and JoS. A. Banks stores, among other brands, lowered its fiscal 2018 earnings outlook Monday morning, and investors have lowered the share price in response.
Ligand Pharmaceuticals Inc. (NASDAQ: LGND) dropped about 23% Wednesday to set a new 52-week low of $98.56. Shares closed at $131.77 on Tuesday, and the stock’s 52-week high is $278.62. Volume was about five times the daily average of about 670,000. The company was bashed today in a report by short-seller Citron Research which has set a price target of $35 on the stock.