The 4 Stocks That Sank the Market

Investing

Published: June 12, 2014 4:01 pm

Last Updated: April 28, 2020 6:20 am

June 12, 2014: Markets opened lower again on Thursday as the fighting in Iraq has taken center stage and driven oil prices to their highest closing price in 9 months. Only the energy sector was able to post a gain today, as the airline stocks took a particular beating on the rise in oil prices. Shortly before the closing bell the DJIA traded down 0.69% for the day, the S&P 500 was down 0.76%, and the Nasdaq Composite traded down 2.05%.

Today’s big loser among the Dow 30 was Caterpillar Inc. (NYSE: CAT) which traded down 1.88% today at around $106.67 in a 52-week range of $80.86 to $109.50. Volume was about 40% below the daily average of around 4.8 million shares traded. The heavy equipment maker boosted its dividend yesterday but today’s downward trend on rising oil prices was too much for the company to overcome.

The Walt Disney Co. (NYSE: DIS) traded down 1.67% today at $82.91 in a 52-week range of $60.41 to $85.86. Volume was about 10% below the daily average of nearly 6.5 million shares. There was no news from the company today other than an injury to Harrison Ford’s ankle on the set of the next installment of the ‘Star Wars’ movies tentatively scheduled for release in December 2015..

Networking giant Cisco Systems Inc. (NASDAQ: CSCO) traded lower by 1.52% at $24.67 in a 52-week range of $20.22 to $26.49. Volume was about 45% below the daily average of nearly 39 million shares traded. Sources reported today that CEO John Chambers may announce his retirement as early as September.

The Boeing Co. (NYSE: BA) traded at $132.00, down 1.55% in a 52-week range of $96.31 to $144.57. Share volume was about 20% lower than the daily average of around 3.6 million shares traded. The company released the weekly update to its order book today and revealed that no new orders have been added. The company also reached an agreement today with its Japanese supplier that will keep about 21% of the work on the new 777X in Japan.

Of the Dow 30 stocks 26 looked to close lower today while just 4 were on their way to a higher finish.

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