January 22, 2019: Here are four stocks trading with heavy volume among 40 equities that have posted new 52-week lows by the noon hour Wednesday. On the New York Stock Exchange, decliners led advancers by about 1.57 to 1 and decliners led advancers on the Nasdaq by about 1.37 to 1.
The three major indexes are trading mixed, with the Dow Jones industrials up slightly and the S&P 500 and the Nasdaq Composite down less than 0.5%. Crude oil traded down about 1.3% on the day at $52.31 a barrel. Gold was trading up less than 0.1% at $1,284.00 for the day.
Altria Group Inc. (NYSE: MO) traded down about 1% to post a new 52-week low of $44.51 Wednesday, after closing at $44.97 on Tuesday. The stock’s 52-week high is $71.86. Volume was about 30% below the daily average of around 11.4 million. The company’s stock was dropped from Equalweight to Underweight and the price target was cut from $54 to $45 at Morgan Stanley on Tuesday.
Amdocs Ltd. (NASDAQ: DOX) dropped 13% Wednesday to set a new 52-week low of $52.60. Shares closed at $60.47 on Tuesday, and the stock’s 52-week high is $71.72. Volume was about seven times the daily average of about 880,000. Short seller Spruce Point Capital said this morning that it sees a 50% downside risk to the company’s stock.
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Quotient Technology Inc. (NYSE: QUOT) traded down about 18.5% to post a new 52-week low of $9.00 Wednesday, after closing at $11.04 on Tuesday. The stock’s 52-week high is $15.98, and volume was nearly eight times the daily average of around 530,000. The consumer products marketing firm issued weak preliminary after markets closed Tuesday.
Grupo Televisa SAB (NYSE: TV) traded down nearly 5% Wednesday and posted a new 52-week low of $11.39, after closing Tuesday at $11.97. The stock’s 52-week high is $21.41. Volume was about 55% higher than the daily average of around 1.8 million. The Spanish-language media firm had no specific news.
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