The 4 Stocks That Dominated the Market on Thursday

Investing

Published: March 6, 2014 4:01 pm

Last Updated: April 28, 2020 6:06 am

March 6, 2014: Markets opened higher on Thursday after an encouraging report on new claims for jobless benefits, an improvement (for workers) in unit labor costs, and a decline in factory orders. Retail store reports were close to expectations if drug stores are included, but weak otherwise. In the final minutes of trading the DJIA was up 0.39%, the S&P 500 was up 0.75%, and the Nasdaq Composite was down 0.11%.

Today’s big gainer among the Dow stocks was Caterpillar Inc. (NYSE: CAT). Competitor Joy Global Inc. (NYSE: JOY) reported rotten results this morning, largely due to anemic sales to coal miners. Caterpillar doesn’t do a lot of business with coal companies, so that’s a plus the firm. Cat’s shares traded up 1.4% at $97.71 in a 52-week range of $84.79 to $98.24 just ahead of the closing bell. Volume is on track to be about 25% below the daily average of around 6 million shares traded.

Nasdaq Composite component Staples Inc. (NASDAQ: SPLS) saw its share price dive 15.22% today after the company reported weak results and said it would close 225 stores. The stock will close around $11.37 in a 52-week range of $11.16 to $17.30 (a new 52-week low). Volume was almost 8-times higher than the daily average of around nearly 9 million shares traded.

Another heavily traded Nasdaq stock today is Pixelworks Inc. (NASDAQ: PXLW). The maker of of video processing chips said that Apple Inc. (NASDAQ: AAPL) contributed more than 10% to the company’s revenues last year. Analysts expect more upside for the company this year and next as a result. Pixelworks’ shares are looking to close up 84.37% at $8.88 in a 52-week range of $2.11 to $9.05 (a new 52-week high today). Share volume was approaching 15-times more than the daily average of around 500,000 shares traded.

Dow 30 component Pfizer Inc. (NYSE: PFE) is down 0.98% today and traded at $32.44 in its 52-week range of $27.12 to $32.96 (a new 52-week high today) shortly before the closing bell. The pharmaceutical and biotech stocks were mostly lower today, dragging the Nasdaq Composite toward a negative close. Trading volume for Pfizer’s shares was about 60% of the daily average of about 26 million shares.

Of the Dow 30 stocks 24 are set to close higher today while only 6 are on their way to a lower close.

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