The 4 Stocks That Sank the Market

Investing

Published: June 10, 2014 4:10 pm

Last Updated: April 28, 2020 6:20 am

June 10, 2014: Markets opened lower on Tuesday and were never able to bust out to the positive side. It appears as though the profit-taking we saw in the afternoon yesterday carried over for a full trading session today. Shortly before the closing bell the DJIA traded down 0.05% for the day, the S&P 500 was down 0.09%, and the Nasdaq Composite traded down 0.03%.

Today’s big loser among the Dow 30 was International Business Machines Corp. (NYSE: IBM). Shares traded at $184.00, down 1.19% in a 52-week range of $172.19 to $206.98. Share volume was about 30% lower than the daily average of around 4.8 million shares traded. H-P announced yesterday the release of two high-end server products that threaten IBM’s grip on the high-performance end of the market.

United Technologies Corp. (NYSE: UTX) gave back 0.88% today trading at around $119.03 in a 52-week range of $90.30 to $120.66. Volume was about 35% below the daily average of around 3.2 million shares traded. The stock has been pushing steadily higher and today’s downturn is almost certainly some profit-taking.

The Boeing Co. (NYSE: BA) traded lower by 0.63% at $137.09 in a 52-week range of $96.31 to $144.57. The aerospace giant had no news today, but like United Technologies, Boeing’s stock has been climbing back to its yearly high. Volume was about 50% below the daily average of nearly 18 million shares traded.

McDonald’s Corp. (NYSE: MCD) traded down 0.58% today at $100.82 in a 52-week range of $92.22 to $103.8. Volume was about 20% below the daily average of nearly 5 million shares. The company’s U.S. sales have stagnated for months and investors might be wondering if the 3.2% dividend yield is enough to keep them interested.

Of the Dow 30 stocks 15 looked to close higher today while 15 were on their way to a lower finisht.

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