Dow plummets 400 points Wednesday; nine Pittsburgh companies hit new 52-week lows
Pittsburgh Business Times - by Patty Tascarella
Mounting Wednesday afternoon losses sent the Dow skidding below the 8,000 point barrier. At the end of trading, it dropped 427.47 points or 5.07 percent to 7,997.28. Nasdaq lost 96.85 points or 6.53 percent to finish Wednesday at 1,386.42.
A cross-section of Pittsburgh companies all suffered losses with nine sinking to new 52-week lows, the largest number to fall so low since the Dow’s record 777-point drop on Sept. 29.
Allegheny Technologies Inc. (NYSE:ATI) fell 16.31 percent to $16.73 per share; its previous low was $18.42.
U.S. Steel Corp. (NYSE:X), down 13.23 percent to $25.25, $1.35 less than its prior low.
WESCO International Inc. (NYSE:WCC), lost 9.09 percent to $13.91, 19 cents below its former low.
American Eagle Outfitters Inc. (NYSE:AEO), down 10.16 percent to $7.52, 41 cents off its former low point.
Koppers Inc. (NYSE:KOP) lost 11.85 percent to close at $15.03, 83 cents beneath its previous low.
Dick’s Sporting Goods )NYSE:DKS) down 6.45 percent to $9.58, 39 cents off.
Nova Chemicals Corp. (NYSE:NCX) lost 13.39 percent to finish at $7.50; 86 cents less than its previous low.
Alcoa Inc. dropped 13.92 percent to $8.16, 84 cents beneath its prior low.
PPG Industries Inc. was down 7.17 percent to $41.17, almost $2 beneath its previous 52-week low of $43.
Here’s how others fared:
- Allegheny Energy Inc. (NYSE:AYE) down 2.77 percent to $28.47
- CONSOL Energy Inc. (NYSE:CNX), down 9.43 percent to $21.62
- Federated Investors Inc. (NYSE:FII), down 8.99 percent to $17.81
- H.J.Heinz Co. (NYSE:HNZ), down 1.75 percent to $40.51
- National City Corp. (NYSE:NCC), down 13.81 percent to $1.81
- PNC Financial Services Group Inc. (NYSE:PNC), down 10.24 percent to $49.77
ptascarella@bizjournals.com | (412) 208-3832
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