Today’s big mover among the Dow 30 stocks was Cisco Systems Inc. (NASDAQ: CSCO). Shares were trading down 3.15% at $22.14 in a 52-week range of $19.98 to $26.49 shortly before the closing bell. The company reported earnings after the bell last night and beat estimates as well as raising its dividend to yield of 3.3%. But guidance sank the shares today. Fortunately (?) Cisco is the cheapest stock on the price-weighted index so even this fairly large move had only a negligible effect on the DJIA today. Volume was about 3-times the daily average of around 49 million shares traded.
Cisco aside, the tech sector was a solid gainer today and Facebook Inc. (NASDAQ: FB) provided a solid boost posting an all-time high of $66.08 before moving back a bit to $65.93 just before the closing bell. The new 52-week range is $22.67 to $66.08. There was no specific news from the social media giant, so the reason for the rise is known only to those who were buying today. Trading volume was about equal to the daily average of nearly 64 million shares.
S&P 500 component Time Warner Cable Inc. (NYSE: TWC) is up 6.84% trading at $144.25, a new 52-week high following a confirmed buyout offer at about $159 a share from Comcast Corp. (NASDAQ: CMCSA).Share volume was nearly 10-times the daily average of around 2.9 million shares traded.
One stock weighing on the Nasdaq Composite today was Whole Foods Market Inc. (NASDAQ: WFM) which has dropped 7.52% shortly before today’s close to trade at $55.95, in a 52-week range of $40.70 to $65.59. The upscale grocery store missed estimates and guidance was below analysts’ targets. That’s no way to impress investors. Share volume was nearly 5-times the daily average of around 3.6 million shares traded.
Of the Dow 30 stocks 24 closed higher today while 6 closed lower.
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