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Lowered Earnings Expectations send DJIA, S&P 500, and NASDAQ Into the Tank

By  +Follow January 13, 2014 2:39PM
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The shockingly dismal jobs report issued by the Department of Labor last week carried over into Monday’s trading session, exacerbating widespread expectations that the first earnings season of 2014 will a disappointing one, and sending stocks plummeting by the closing bell.

The Standard & Poor’s 500 index was off by 1.26 percent to 1,819.20, while the Dow Jones Industrial Average was off by 1.09 percent for a finish at 16,257.94. The NASDAQ took the hardest hit, tumbling 1.47 percent by the end of trading to 4,113.30.

On the S&P 500, big techs provided a significant amount of downward pressure, with Facebook (FB) , Microsoft (MSFT) , and Micron Technology (MU) all heading lower on the day’s heaviest trading. Big banks were also a drag on the benchmark index, however, as Bank of America (BAC) , Citigroup (C) , and Wells Fargo (WFC) off by a percent or more each.

On the upside, support came from Beam Inc. (BEAM) , as the iconic whiskey producer watched shares jump by 25 percent subsequent to the announcement of its acquisition by the popular Japanese distiller Suntory, a deal carrying a price tag of $16 billion including debt.

All of the Dow’s components were caught in the sell-off, with particularly heavy losses for Walt Disney Co. (DIS) and Nike Inc. (NKE) , with the lone exception being major drug manufacturer Merck & Co. Inc.’s (MRK) 6.50 percent gain after the FDA showed renewed interest in the company’s Vorapaxar cardiovascular treatment that had previously been all but written off as a failure.

On the NASDAQ, uber-trendy yoga apparel-maker Lululemon Athletica (LULU) was off by over 16 percent after the company slashed guidance ahead of the release of its balance sheet for the recently-ended quarter. Israeli kitchen gadget-maker SodaStream International (SODA) saw shares lower by 25 percent for the same reason.

Intercept Pharmaceuticals (ICPT) , meanwhile, pared back ever so slightly on the previous week’s heliotropic 560 percent leap, with the stock unloading a relatively insignificant 18 percent by the closing bell. Overall, healthcare stocks performed incredibly well despite the day’s frantic sell-off, with double-digit gains for Alnylam Pharmaceuticals (ALNY) , Galena Biopharma (GALE) , Cadence Pharmaceuticals (CADX) , and Sucampo Pharmaceuticals (SCMP) .

Natural gas futures slated for Feb. 14 delivery were rose over 6 percent to $4.30 on the day on expectations that the polar vortex will continue to engulf huge swathes of the US mainland in unusually cold temperatures over the coming weeks.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for FB
msputoptions
4 Mar 15 22:00:08
$GSAT blink and you might just miss it, possible upward gap closure posted earlier on $FB http://t.co/0le3uDP0kj
Gonzalo Sivatte
4 Mar 15 21:55:46
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Phill syron-jones
4 Mar 15 21:52:31
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luckypete
4 Mar 15 21:49:34
$FB 80.89 1.29 A/M 0.09 to 80.99 THURS UP
Capital Market Labs
4 Mar 15 21:48:08
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4 Mar 15 21:47:19
RT @timothysykes: WATCH 5 new FREE videos on https://t.co/AcxSN7Z2HL the past 5 days, go watch & enjoy $FB $TWTR $LNKD $STUDY
Bernhard Luecke
4 Mar 15 21:46:20
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Energy Saving
4 Mar 15 21:45:33
RT @greensboro_nc: Wisconsin woman accused of Facebook chatting before crash that killed 3 kids… http://t.co/pb9Sl76m8d #Facebook • $FB htt…
Timothy Sykes
4 Mar 15 21:45:21
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#SocialMedia NC
4 Mar 15 21:42:17
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be water
4 Mar 15 21:40:32
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Ophir Gottlieb
4 Mar 15 21:32:31
$FB #ALERT EPS Accelerating --> http://t.co/HD3cFkheiT http://t.co/vgUqZoBZjn
VAMPRIMAL
4 Mar 15 21:28:27
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
TheClosingBell
4 Mar 15 21:27:55
The Closing Bell is out! http://t.co/rQE910SvNL $EURUSD $GBPUSD $USDJPY $AUDUSD $SPY $TWTR $GPRO $YHOO $LNKD $FB $AAPL $BRD $CAT $WLT $LNKD
Abraham VanVarenberg
4 Mar 15 21:27:04
RT @WSJ: Ads on Instagram will soon include ads that link outside of the social network: http://t.co/l1UruCs8A0 $FB
Bhartiya
4 Mar 15 21:26:12
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
PolgarStocks
4 Mar 15 21:25:38
$FB Short Sales Updated Thursday, March 5, 2015 00:08:20 AM $PVSP $FXY $PVSP $PVSP http://t.co/eqt1Q1w17T
RGV
4 Mar 15 21:25:07
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Abraham VanVarenberg
4 Mar 15 21:17:28
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
YM Corradi
4 Mar 15 21:17:20
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Nicha Thanatchachs
4 Mar 15 21:10:57
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Bradley
4 Mar 15 21:09:08
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Patrick Seitz
4 Mar 15 21:02:36
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Leo Viajar
4 Mar 15 21:01:01
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Steve Wells
4 Mar 15 20:55:35
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srikanth sk
4 Mar 15 20:55:26
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Jay Dennis
4 Mar 15 20:54:24
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/PCzQBucLQH $GOOG $FB
Joan Tarruell
4 Mar 15 20:54:07
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Andy Arevalo M.
4 Mar 15 20:52:13
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Stock Hobbit
4 Mar 15 20:52:05
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Devesh Shah
4 Mar 15 20:51:29
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
PennyStock Zone
4 Mar 15 20:50:39
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RaptureIsHere
4 Mar 15 20:49:23
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Tad Doughty, CFS
4 Mar 15 20:48:56
@Luciano_Carmelo I hear you! There are positives to $FB. There are also negatives. :)
Lori Braget
4 Mar 15 20:48:56
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Tad Doughty, CFS
4 Mar 15 20:46:38
$FB going to let instagram's ads be clickable http://t.co/NbZwUGv4Uj
Gareth.
4 Mar 15 20:44:05
Google+ a disappointment with a purpose. http://t.co/VuO7mtTJnt $GOOG $FB" via @WSJ
RX King
4 Mar 15 20:43:47
Somebody wants $FB bad!! Nice close🚀🚀🚀 http://t.co/Wa1X8NbP9U
Gaurav Kumar
4 Mar 15 20:42:09
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Xevi
4 Mar 15 20:38:55
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Stephen s
4 Mar 15 20:38:32
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Gayathree Ganesan
4 Mar 15 20:34:16
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Jack Smyth
4 Mar 15 20:34:14
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Tracey
4 Mar 15 20:33:54
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
E. Folkes
4 Mar 15 20:33:46
Depending on how the marked react tomorrow morning, I'm looking for a continuing run on $BMY, $FB, and other familiar names
Lisa Internationals
4 Mar 15 20:33:34
I'm bullish on $FB at the @NASDAQ Community - http://t.co/t2JljgcQns
K.Sheth
4 Mar 15 20:33:13
@krebsbr let them know long $TWTR, short $FB is the trade of the year
Katherine McEvoy
4 Mar 15 20:31:28
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Alok
4 Mar 15 20:31:24
RT @WSJ: Yes, Google+ is a disappointment. But it still helped Google fight Facebook: http://t.co/DqDYOktB4T $GOOG $FB
Stock Signaling
4 Mar 15 20:31:03
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By  +Follow January 13, 2014 2:39PM
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