Stocks Hitting 52-Week Lows

Rayonier RYN shares touched a new 52-week low of $29.25. Rayonier reported better-than-expected earnings for the third quarter. However, the company's revenue missed estimates. The company announced its plans to realign its strategy. It also restated results for the first half of this year and lowered its quarterly dividend to $0.25 per share from $0.30 per share. Abercrombie & Fitch Co ANF shares fell 2.64% to reach a new 52-week low of $28.72. Janney Capital downgraded Abercrombie & Fitch from Buy to Neutral, according to Reuters. Dendreon DNDN shares tumbled 71.45% to touch a new 52-week low of $0.27 on Chapter 11 filing. Akebia Therapeutics AKBA shares dropped 14.68% to touch a new 52-week low of $9.13 after the company reported Q3 results.