The 52-Week Low Club for Thursday

Paul Ausick
August 7, 2014

August 7, 2014: Stocks making new 52-week lows today included the following four firms. Inc. (COUP) saw shares fall to a new 52-week low of $14.90 after posting a wider than expected quarterly loss this morning. The shares tumbled 24%, to trade below the IPO price of $16. The stock’s post-IPO high is $33.00. The stock traded about 5-times its daily average number of shares today, with nearly 1.5 million shares changing hands.

Cobalt International Energy Inc. (CIE) dropped about 2.5% on Thursday to post a new 52-week low of $13.54. The 52-week high is $29.79. On Tuesday the company said it received a Wells Notice from the U.S. SEC related to alleged securities laws violations at the company’s Angolan operations. Cobalt’s share volume today was about 15% above its daily average of around 3.2 million shares.

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Loews Corp. (NYSE: L) traded down about 1% in the last hour of trading on Thursday after posting a new 52-week low of $41.69. Some analysts have cut earnings estimates for the current quarter and the full-year. The stock’s 52-week high is $49.43.

Transocean Ltd. (RIG) dropped about 0.3% today and posted a new 52-week low of $38.01. The 52-week high is $55.74. The company posted a better-than-expected profit Wednesday night, but investors remain cautious on offshore drillers, as witness Monday’s new low for Noble Corp. (NE). Volume was heavy at more than double the daily average of about 4.8 million shares traded.

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