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Investing

The 4 Stocks That Sank the DJIA on Wednesday

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By Paul Ausick Updated Published
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June 24, 2015: Markets opened lower on Wednesday as traders were cautious about the European Union’s negotiations with Greece and the final (negative) reading on U.S. GDP growth. Tech stocks rose later in the morning, but not enough to pull other sectors along behind it. Crude oil and gold both slipped more today. Shortly before the closing bell the DJIA traded down 0.89% for the day, the S&P 500 traded down 0.66%, and the Nasdaq Composite traded down 0.69%.

The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was E. I. du Pont de Nemours and Company (NYSE: DD) which traded lower by 3.04%% at $66.42. The stock’s 52-week range is $63.70 to $80.65. Trading volume was about 50% above the daily average of around 7.4 million. An analyst questioned the value of the coming Chemours spinoff.

UnitedHealth Group Inc. (NYSE: UNH) traded down 2.97% at $119.10. The stock’s 52-week range is $78.74 to $123.76. Trading volume was somewhat below the daily average of around 3.9 million. The company had no specific news today.

The Goldman Sachs Group Inc. (NYSE: GS) traded down 1.85% at $214.36. The stock’s 52-week range is $161.53 to $218.77. Trading volume was marginally above the daily average of more than 2.4 million. Citigroup analysts said investors would be better served by buying shares in BofA and JPMorgan.

3M Companies Inc. (NYSE: MMM) traded down 1.36% at $157.68. The stock’s 52-week range is $130.60 to $170.50. Around 2 million shares traded hands today, about 10% below the daily average of around 2.2 million. The company said yesterday it would acquire safety equipment firm Capital Safety for $2.5 billion in cash.

Of the Dow 30 stocks 29 are set to close lower today and just 1–Apple–is on track to close higher.

ALSO READ: The States With the Strongest and Weakest Unions

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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