The 4 Stocks That Weighed Down the DJIA

Investing

Published: November 24, 2014 4:01 pm

Last Updated: April 28, 2020 6:23 am

November 24, 2014: Markets opened higher on Monday but both the S&P 500 and the DJIA drifted lower. The DJIA fell below the break even line late in the afternoon and appears to be head for a close right around flat for the day. Shortly before the closing bell the DJIA traded down 0.01% for the day, the S&P 500 traded up 0.24%, and the Nasdaq Composite traded up 0.84%.

The DJIA stock posting the largest daily loss ahead of the close Friday was AT&T Inc. (NYSE: T) which traded lower by 1.87% at $34.62. The stock’s 52-week range is $82.00 to $111.46. Volume was about 50% above the daily average of around 20 million shares. The stock probably reacted badly to the downgrade of competitor Verizon.

Verizon Communications Inc. (NYSE: VZ) traded down 1.49% at $49.46. The stock’s 52-week range is $45.45 to $53.66. Trading volume was about 10% above the daily average of around 14 million shares. Citigroup cut the company’s rating from Overweight to Neutral and lowered the price target to $51..

United Technologies Corp. (NYSE: UTX) traded down 1.46% at $108.69. The stock’s 52-week range is $97.30 to $120.66. Volume was about 80% above the daily average of around 4 million shares. The company’s CEO unexpectedly resigned Monday morning.

Exxon Corp. (NYSE: XOM) traded lower by 1.29% at $95.56. The stock’s 52-week range is $86.91 to $104.76. Volume was about 40% below the daily average of around 12 million shares. Raymond James downgraded Exxon’s shares from Outperform to Market Perform.

Of the Dow 30 stocks 16 are set to close lower today and 14 are on track to close higher.

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