The 4 Stocks That Sank the Market

Investing

Published: June 23, 2014 4:01 pm

Last Updated: April 28, 2020 6:20 am

June 23, 2014: Markets opened mixed on Monday with the tech-heavy Nasdaq Composite starting the day with a small gain before giving in to selling pressure in mid-morning. Volumes remain low and today’s decline could be down to some profit-taking. Shortly before the closing bell the DJIA traded down 0.10% for the day, the S&P 500 was down 0.04%, and the Nasdaq Composite traded down 0.02%.

Pfizer Inc. (NYSE: PFE) posted the largest percentage decline among the Dow 30 today, down 1.04% at around $29.47 in a 52-week range of $27.33 to $32.96. Volume was about 25% lower than the daily average of around 30 million shares traded. The company had no news today..

General Electric Co. (NYSE: GE) traded lower today, down 0.98% at $26.70 shortly before today’s close. The stock’s 52-week range is $22.76 to $28.09. Volume was about equal to the daily average of around 27 million shares traded. The company’s $17 billion acquisition of France’s Alstom met its final condition over the weekend when French construction firm Bouygues agreed to sell more than two-thirds of its 29% stake in Alstom to the French government.

The Boeing Co. (NYSE: BA) traded lower by 0.89% at $130.93 shortly before the closing bell. The stock’s 52-week range is $96.31 to $144.57. Volume was almost 10% higher than the daily average of around 3.4 million shares traded. The threat to the U.S. Export-Import Bank’s charter and its ability to finance export sales is weighing on Boeing’s shares.

United Technologies Inc. (NYSE: UTX) traded at $117.06, down 0.79% in a 52-week range of $90.30 to $120.66. Share volume was about 40% lower than the daily average of around 3.1 million shares traded. The company had no news today.

Of the Dow 30 stocks 13 looked to close higher today and 17 were on their way to a lower finish.

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