Today’s big loser among the Dow 30 was Verizon Communications Inc. (NYSE: VZ) which traded at $49.29, down 1.53% in a 52-week range of $45.08 to $51.94. Share volume was about 40% lower than the daily average of nearly 25 million shares traded. Competitor AT&T Inc. (NYSE: T) raised its full-year revenue growth forecast this morning, but lowered its EPS outlook and wireless profit margins will be lower as customers shift to less expensive data plans. AT&T also expects to add customers and investors must be thinking those new customers will be Verizon refugees. AT&T stock is down as well, but not as much as Verizon.
DJIA heavyweight Visa Inc. (NYSE: V) traded lower by 1.02% at $211.34 in a 52-week range of $170.99 to $235.50. The company’s CFO announced that he is retiring within 12 months, and such announcements always hit the stock price. Share volume today was around 35% lower than the daily average of about 3.5 million shares.
Nike Inc. (NYSE: NKE) posted a drop of 1.43% today and traded at $75.62 in a 52-week range of $59.11 to $80.26. Volume was about 30% below the daily average of around 3.6 million shares. The company announced some management changes late Monday, but that hardly accounts for today’s drop. Nike reports fourth quarter and full-year results later this month, and it could be that investors are getting jittery.
Software giant Microsoft Corp. (NASDAQ: MSFT) had no news today but was among the weaker Dow 30 performers. Shares fell 1.23% to $40.28 in a 52-week range is $30.84 to $41.66. Volume was about 60% below the daily average of 33 million shares traded.
Of the Dow 30 stocks 13 looked to close higher today while 17 were on their way to a lower finish.
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