The 4 Stocks That Sank the Market

Investing

Published: August 28, 2014 4:01 pm

Last Updated: April 28, 2020 6:19 am

August 28, 2014: Markets opened lower on Thursday and even an estimate for second quarter GDP that was revised up couldn’t put any air under equities. The day’s trading got off to a lousy start following a report that Russia had invaded Ukraine. The report was later changed to say the Russians entered Ukraine. The change didn’t boost spirits. Volume was light again today. Shortly before closing today the DJIA traded down 0.26% for the day, the S&P 500 traded down 0.18%, and the Nasdaq Composite traded down 0.24%.

The Dow 30 stock posting the biggest percentage loss today was Visa Inc. (NYSE: V) which traded down 1.13% at $214.71 in a 52-week range of $173.37 to $235.50. The company was downgraded today at Raymond James. Share volume was about 25% below the daily average of around 2.3 million shares. As the highest priced stock among the Dow 30 Visa’s impact is hard to overcome.

The Boeing Co. (NYSE: BA) traded down 0.83% at $127.14. The stock’s 52-week range is $102.57 to $144.57. Share volume was about 35% below the daily average of around 4.2 million shares traded. Australian carrier Qantas has deferred delivery of 5 of Boeing’s 787 aircraft until 2017, which may be good, not bad, news for the company.

Nike Inc. (NYSE: NKE) traded down 0.75% at $78.87 in a 52-week range of $62.60 to $80.30. Volume was about 40% below the daily average of around 3.2 million shares traded. The company had no news today, but there have been reports that competitor Under Armour is trying to sign Nike stars Kevin Durant and Adidas is chasing Andy Murray.

JPMorgan Chase & Co. (NYSE: JPM) traded lower by 0.65% at $59.20 today. The stock’s 52-week range is $50.06 to $61.48. Volume was about 40% below the daily average of around 13 million shares traded. The bank said late on Thursday that it was investigating a possible cyberattack according to AP sources.

Of the Dow 30 stocks 10 are set to close higher today and 20 are poised to close lower.

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