The 4 Stocks That Dragged Down the Dow

Investing

Published: September 2, 2014 4:01 pm

Last Updated: April 28, 2020 6:07 am

September 2, 2014: Markets opened mixed on Tuesday with the blue chips spending most of the day in the red. The energy and basic materials sectors took a beating today as crude oil futures dipped below $93.00 at one point and are down more than 3% for the day. Shortly before closing today the DJIA traded down 0.19% for the day, the S&P 500 traded down 0.08%, and the Nasdaq Composite traded up 0.33%.

The Dow 30 stock posting the biggest percentage loss today was The Home Depot Inc. (NYSE: HD) which traded down 1.97% at $91.22 in a 52-week range of $72.21 to $93.52. The company’s said it is investigating a possible breach of customer credit and debit card data. A security website reported that the breach could go back as far as late April or early May of this year and, if that is the case, the breach could be “many times larger” than the breach that hit Target stores last year. Trading volume reached about 3-times the daily average of 6.3 million shares.

Chevron Corp. (NYSE: CVX) traded down 1.59% at $127.39 in a 52-week range of $109.27 to $135.10. Falling energy prices have hit the big producers like Chevron and Exxon hard today. Other than the general demise of crude prices Chevron had no other news today.Volume was about 20% below the daily average of around 5 million shares traded.

The Boeing Co. (NYSE: BA) traded down 1.18% at $125.31 in a 52-week range of $104.62 to $144.57. Volume was about 15% below the daily average of around 4.2 million shares traded. The company received its first Underperform (Sell) rating since 2009 today. The analyst firm also cut Boeing’s price target to $101. Ouch.

Microsoft Corp. (NASDAQ: MSFT) traded lower by 0.92% at $45.01 today. The stock’s 52-week range is $30.95 to $45.71. Volume was about 40% below the daily average of around 28 million shares traded. The company has been given a short period of time to explain.

Of the Dow 30 stocks 9 are set to close higher today and 21 are poised to close lower.

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