While it was hard to find anything positive about the trading day on the NYSE there were a number of companies trading below the 10.00 mark that did post some impressive numbers in trading volume including Citigroup (C), Sprint Nextel Corporation (S), Alcatel Lucent (ALU), Nokia Corp. (NOK), and Qwest Communications (Q).
Citigroup Inc. (C) saw shares dip 1.13% on the day and closed at 4.39 after a staggering trading volume of 620,255,790, nearly 130 million more than their average. The company, which provides consumers, corporations, governments, and institutions with a range of financial products and services, including consumer banking, credit cards, corporate and investment banking, securities brokerage, and wealth management, continues to trade below their 50-day moving average of 4.79 is falling closer to its 200-day moving average of 4.26 every day.
Sprint Nextel Corporation (S) also took a hit on Wednesday, falling 1.82% on the day to close at 4.86 and while they were the second most active NYSE stock trading below 10.00 their trading volume of 46,523,303 was more than 9 million shy of its average. Sprint, which offers wireless and wireline communications products and services to consumers, businesses, and government users in the United States, Puerto Rico, and the U.S, continues to trade above their 50-day moving average of 4.48 as well as their 200-day moving average of 4.40.
Alcatel Lucent (ALU) put together another big day of volume on Wednesday with 42,271,847 shares moving hands, nearly 11 million shares above its average yet shares dropped 3.65% to close at 5.01 on the day. ALU, which offers products, solutions, and transformation services that enable service providers, enterprises, governments, and strategic industries to deliver voice, data, and video communication services to end-users worldwide, are still comfortably ahead of the 50-day moving average of 4.11 and 200-day moving average of 3.24.
Nokia Corp. (NOK) finished the day among the most heavily traded stocks on the NYSE with trading volume hitting 41,990,961, more than 14 million shares higher than the company’s average but the price per share actually fell 2.11% to close at 7.89. NOK, which manufactures and sells mobile devices, and provides Internet and digital mapping and navigation services worldwide, slipped further behind their 50-day moving average of 9.82 and their 200-day moving average of 9.72.
Qwest Communications (Q) experienced a heavy day of trading volume on Wednesday, seeing 34,703,726 shares move hands, more than 14 million more than their average. Shares dipped slightly on the day, slipping 0.91% to close at 6.55. The company, which provides data, Internet, video, and voice services in the United States and internationally, is still trailing their 50-day moving average of 6.99 but remains ahead of their 200-day moving average of 6.27.