Altria, Frontier Communications Settle Into Thursday's 52-Week Low Club
January 24, 2019: Here are four stocks trading with heavy volume among 34 equities that have posted new 52-week lows by the noon hour Thursday. On the New York Stock Exchange, advancers led decliners by about 1.81 to 1 and advancers led decliners on the Nasdaq by about 1.42 to 1.
The three major indexes were trading mixed, with the Nasdaq Composite up slightly and the S&P 500 and the Dow Jones industrials down slightly. Crude oil traded up about 1.2% on the day at $53.29 a barrel. Gold was trading down about 0.3% at $1,279.80 for the day.
Altria Group Inc. (NYSE: MO) traded down about 4.3% to post a new 52-week low of $42.80 Thursday, after closing at $44.70 on Wednesday. The stock’s 52-week high is $71.69. Volume was about 10% above the daily average of around 11.5 million. The company had no specific news.
Frontier Communications Inc. (NASDAQ: FTR) dropped 10% Thursday to set a new 52-week low of $1.98. Shares closed at $2.21 on Wednesday, and the stock’s 52-week high is $11.64. Volume was about 45% higher than the daily average of about 3.4 million. The company on Wednesday completed the sale of about 100 wireless towers.
Briggs & Stratton Corp. (NYSE: BGG) traded down about 17% to post a new 52-week low of $11.34 Thursday, after closing at $13.70 on Wednesday. The stock’s 52-week high is $26.15, and volume was nearly six times the daily average of around 450,000. The company posted an earnings miss after markets closed last night.
Weibo Corp. (NASDAQ: WB) traded down about 2% Thursday and posted a new 52-week low of $51.15, after closing Wednesday at $52.20. The stock’s 52-week high is $142.12. Volume was about 25% lower than the daily average of around 2.5 million. The Chinese social media platform had no specific news. The stock has turned around after the early morning slide and was on track to post a gain of about 3% for the day.