The 4 Stocks That Held the Market Down

Investing

Published: July 24, 2014 4:01 pm

Last Updated: April 28, 2020 6:08 am

July 24, 2014: Markets opened mixed again on Thursday as the DJIA once more lagged on weakness among some of the heavy-hitter blue chips. All three major indexes hovered around the flat line today before slipping lower late in the afternoon. Shortly before closing today the DJIA traded down 0.02% for the day, the S&P 500 traded 0.01%, and the Nasdaq Composite traded up 0.02%. Before drifting to a lower close today, the S&P 500 posted a new intra-day high of 1,991.39.

The biggest loser among the Dow 30 today was Caterpillar Inc. (NYSE: CAT) which traded down 3.25% at $104.86 today in a 52-week range of $81.35 to $111.46. Volume was nearly double the daily average of around 3.5 million shares traded. Cat reported second-quarter results this morning that were better than expected due to cost cutting. The company’s outlook is softer than expected though.

The Boeing Co. (NYSE: BA) traded lower by 1.87% at $124.36. The stock’s 52-week range is $101.77 to $144.57. Volume was about more than double the daily average of around 3.8 million shares traded. Yesterday Boeing reported an EPS beat on a big tax gain. Light revenues and a $242 million charge to its U.S. Air Force tanker program continued to drag the stock down today.

AT&T Inc. (NYSE: T) traded down 1.20% at $35.45. The stock’s 52-week range is $31.74 to $36.86. Share volume was about 65% higher than the daily average of around 22 million shares traded. The company reported earnings last night that were okay, but showed a sharp drop in revenue per user.

Wal-Mart Stores Inc. (NYSE: WMT) traded down 0.75% at $76.42 in a 52-week range of $71.51 to $81.37. Volume was about equal to the daily average of around 5.6 million shares. The company’s U.S. chief resigned and has been replaced by the company’s chief of its Asia stores. Soon-to-be former CEO Bill Simon has wrestled with drooping sales and not been able to come up with a cure. Simon also lost out to Doug McMillon as the company’s CEO when Mike Duke retired.

Of the Dow 30 stocks 11 are set to close lower today and 19 are poised to close lower.

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