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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for FB
Ticker Report
30 Jul 15 05:11:33
Facebook Price Target Raised to $115.00 at Needham & Company LLC $FB http://t.co/ZmlW5lAGs8
K
30 Jul 15 05:11:27
RT @AnalystWire: Facebook $FB PT Raised to $146 by Piper Jaffray's Munster http://t.co/0aknzx1prd
MarketBeatCom
30 Jul 15 05:11:25
Facebook's PT raised by Needham & Company LLC to $115.00. buy rating. http://t.co/pMmAU9zbD7 $FB #FB
Zonebourse News
30 Jul 15 05:11:06
#FACEBOOK : fait mieux que prévu au deuxième trimestre http://t.co/TIqMYauGBR $FB
Blanco
30 Jul 15 05:10:49
$FB pt raised to 110 from 96 Barid FB pt raised to 146 from 120 Piper Jaffray
deanerr
30 Jul 15 05:10:47
RT @OMillionaires: $FB : $105->$115 BofA| $95->$108 Stifel | $96->$110 Baird| $110->$115 Raymond James| $100->$115 $DB| $120->$146 Piper Ja…
Marshall Moore
30 Jul 15 05:10:27
RT @CNNMoney: Facebook is now the world's most-used tech product. @lisahopeking on $FB earnings: http://t.co/aDZ5uNpU8v http://t.co/HomCXZn…
Skevaboy
30 Jul 15 05:10:10
"@y2kate $FB Facebook PT Raised to $146 by Piper Jaffray's Munster"
Mani Ohli
30 Jul 15 05:10:04
Option Millionaires: jimmybob: $FB : $105->$115 BofA/ $95->$108 Stifel / $96->$110 http://t.co/vpVFBvVO21
Perfor Mance
30 Jul 15 05:10:04
Option Millionaires: jimmybob: $FB : $105->$115 BofA/ $95->$108 Stifel / $96->$110 http://t.co/fMudKPvWN4
Guru Algo Trading
30 Jul 15 05:10:02
RT $FB HFT Algos triggered SELL in SIGMA-X, CROSSFINDER, ATS, LX @ 08:10, P/T 90.00 $BIDU $TSLA $NFLX $GOOG $GPRO $AMZN $AAPL $QQQ #Quant
LearnBonds.com
30 Jul 15 05:09:59
Facebook Inc (FB) The Most Used Product in the World: Here's Why $FB #Facebook http://t.co/MghM1eiSDM
George
30 Jul 15 05:09:44
RT @OMillionaires: $FB : $105->$115 BofA| $95->$108 Stifel | $96->$110 Baird| $110->$115 Raymond James| $100->$115 $DB| $120->$146 Piper Ja…
Open Outcrier
30 Jul 15 05:09:22
$FB (-2.2% pre) Facebook Inc Lower As Expenses Grow Faster Than Sales http://t.co/GCqz7I4AoK
BUD RANTE
30 Jul 15 05:09:13
@SquawkCNBC @PipsToDollars @CNBC $FB [ Young INNOVATIVE Social Media bus. savvy mngmt ] vs $NFLX [ OLD/Herd/add eMobile Partner w/ $MYEC ]
 Trader
30 Jul 15 05:09:01
$FB There has been a lot of quiet accumulation since 6pm yesterday till now. Let's see what the market hours bring. Long
shmittahcapital
30 Jul 15 05:08:59
$FB PT 125 reiterated @ suntrust http://t.co/LMhFu5eWMR
SIAnalystWire
30 Jul 15 05:08:34
Facebook $FB PT Raised to $115 at Raymond James http://t.co/L91uaOwa5l
Puerto Finanzas
30 Jul 15 05:08:11
[Señal Twitter EN] $FB - http://t.co/EVHH0CeMV1 http://t.co/6PLfBU3Akt
Mike Phipps
30 Jul 15 05:07:42
@jvguch1 @DougKass Did any of you read or listen to the $FB quarterly call. But I’ll take the other side of a $FB short
Nicole Augenti, Esq.
30 Jul 15 05:07:30
Prediction: $FB will go green today.
Guru Algo Trading
30 Jul 15 05:06:47
RT $FB HFT Algos triggered SELL in SIGMA-X, CROSSFINDER, ATS, LX @ 08:06, P/T 90.00 $BIDU $TSLA $NFLX $GOOG $GPRO $AMZN $AAPL $QQQ #Quant
aaplalert
30 Jul 15 05:06:46
Top of the morn traders. Live tweeting $fb trades today. Keep it here for transparent, automated, time stamped honesty.
Sentifi US Market
30 Jul 15 05:06:39
Today's Hottest #NASDAQ100 Stocks http://t.co/xPMTGGwJBP $WFM $CERN $CTXS $FB $QIA $MU $NASDAQ http://t.co/zrlDngpLL0
Pablo Piovano
30 Jul 15 05:06:38
RT @JonesTheMarkets: Pre-mkt Facebook $FB suggests open $2 below last night's official close (pre-earnings). Doesn't change major trend: ht…
 Trader
30 Jul 15 05:06:26
@AbiolaHP that was a question someone asked to which I replied. I'm confident $FB can do 100 soon..
Imprezzio Inc.
30 Jul 15 05:06:21
RT @CNNMoney: Facebook is now the world's most-used tech product. @lisahopeking on $FB earnings: http://t.co/aDZ5uNpU8v http://t.co/HomCXZn…
Tweets Distilled US
30 Jul 15 05:06:13
RT @CNNMoney: Facebook is now the world's most-used tech product. @lisahopeking on $FB earnings: http://t.co/aDZ5uNpU8v http://t.co/HomCXZn…
Dan Stewart
30 Jul 15 05:06:04
RT @AnalystWire: Facebook $FB PT Raised to $146 by Piper Jaffray's Munster http://t.co/0aknzx1prd
Juan
30 Jul 15 05:05:34
RT @ValaAfshar: 11 years ago, someone named Mark Zuckerberg appeared on @CNBC to discuss a social network. $FB https://t.co/R0Eer8E6XX
jim hennessy jr.
30 Jul 15 05:05:14
RT @TFMTrades: I like that trade of Short $FB and long $TWTR , & I also like long $USO short $SPX https://t.co/eTIJrZdwhq
methehr
30 Jul 15 05:05:11
RT @ValaAfshar: World Population: 1 @facebook $FB 2 China 3 Tencent 4 India 5 @WhatsApp 6 @LinkedIn 7 United States 8 @instagram 9 @twitte…
TradersStream
30 Jul 15 05:05:02
$FB When spend in R&D is bad? If not, could be like Twitter, Inc. Common Stock and
Graham Niles
30 Jul 15 05:04:48
RT @DougKass: The ultimate "contrarian" trade - LONG $TWTR/SHORT $FB may make more sense than many believe.
Lewis Worrow
30 Jul 15 05:04:46
Here's why investors should be buying shares in FaceBook. Via @businessinsider $FB - http://t.co/mggnjCsUn5 http://t.co/1rZHRAT0kg
Harris Market Trends
30 Jul 15 05:04:46
http://t.co/jgSSOgoq1x Read the Conference Call on $FB solid Quarter analysts like it so do I
Paul R. La Monica
30 Jul 15 05:04:33
RT @CNNMoney: Facebook is now the world's most-used tech product. @lisahopeking on $FB earnings: http://t.co/aDZ5uNpU8v http://t.co/HomCXZn…
Paco Gómez
30 Jul 15 05:04:27
RT @jlopezrguez: Facebook Inc. After-Hours $92.92 -4.04 -4.13% #fbearnings $FB #Facebook
binaryoptionsocial
30 Jul 15 05:04:26
RT SquawkCNBC: More friends for Facebook ahead? Or more follows for Twitter? $FB vs $TWTR #SocialShowdown … http://t.co/RBfA8LuuAy
Daniel Ingevaldson
30 Jul 15 05:04:24
RT @DougKass: The ultimate "contrarian" trade - LONG $TWTR/SHORT $FB may make more sense than many believe.
Mike Phipps
30 Jul 15 05:04:23
RT @AnalystWire: Facebook $FB PT Raised to $146 by Piper Jaffray's Munster http://t.co/0aknzx1prd
Rodedog
30 Jul 15 05:04:08
RT @zozotrader: $FB pt raised to 115 from 100 @ Deutsche Bank
Guru Algo Trading
30 Jul 15 05:03:23
RT $FB HFT Algos triggered SELL in SIGMA-X, CROSSFINDER, ATS, LX @ 08:03, P/T 90.00 $BIDU $TSLA $NFLX $GOOG $GPRO $AMZN $AAPL $QQQ #Quant
royfberger
30 Jul 15 05:03:13
$TWTR $FB $LNKD $MA Thursday Morning Reads – 7/30/15 - Update from Option Millionaires - Stock Options Chatroom St... http://t.co/KkB4vqjqp3
Doug Caron
30 Jul 15 05:03:11
Modest #GDP likely; #FOMC holds off on rate hike; weekly jobless expects 272K; $FB disappoints, drops 2.1% in pre. https://t.co/qKxd9iEVfk
David Jones
30 Jul 15 05:03:05
Pre-mkt Facebook $FB suggests open $2 below last night's official close (pre-earnings). Doesn't change major trend: http://t.co/aQr5575uic
PHARMD
30 Jul 15 05:02:56
RT @AnalystWire: Facebook $FB PT Raised to $146 by Piper Jaffray's Munster http://t.co/0aknzx1prd
Gavin Martinsson
30 Jul 15 05:02:48
So many $FB upgrades. Bueno.
BUD RANTE
30 Jul 15 05:02:40
RT @SquawkCNBC: More friends for Facebook ahead? Or more follows for Twitter? $FB vs $TWTR #SocialShowdown http://t.co/5veuTi65pH
jonas quinn
30 Jul 15 05:02:27
$fb #PriceTarget rises to $146 from $120 at Piper Jaffray
				
				
By  +Follow January 13, 2014 2:39PM
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