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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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Steve Mahoney
30 Oct 14 05:08:41
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Contexxia
30 Oct 14 05:06:18
$FB continues to worry about declining PC usage and rise in mobile usage. http://t.co/UnTscI21O1 #opendata #SEC #equities #mobile #facebook
Financial Iceberg
30 Oct 14 05:04:30
Technical Observation of the Day: Closed below the 20 and 50 DMA on Facebook - $FB http://t.co/R2lhYzpuKj
Stock Moo
30 Oct 14 05:01:58
$fb: Weakness Seen in Facebook (FB): Stock Falls 6.1% http://t.co/kC8DjTMGju
Jon Vince
30 Oct 14 05:01:27
RT @psychsignal: Bearishness in $FB up 78.6% compared to past 48hr bearish average of 1.80 on a scale of 0-4
Gr8 Trades
30 Oct 14 04:59:49
$AAPL $AMZN $BABA $BIDU $CMG $FB $GILD $GMCR $GOOG $GPRO $GS $IWM $LNKD $MBLY $NFLX $PCLN $QQQ $SPY $TSLA $VXX 7:59:50 AM
Tom Wrigley
30 Oct 14 04:58:57
$FB reiterated Outperform, lowered PT to $88 (from $90) -Credit Suisse #200Pennies
BUZZ Just-In
30 Oct 14 04:58:01
Why access a ticker when you could acesss a group of tickers- Social Media Stocks http://t.co/ajElRTb2Qc $TWTR $LNKD $FB $GRPN $ZNGA
DR JAMES CABOT
30 Oct 14 04:57:51
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tradewithjoe
30 Oct 14 04:56:08
Watching $NFLX $AMZN $TSLA $FB $TWTR $AAPL $PCLN $BIDU $BABA 4 #100kOptionsChallenge per http://t.co/upDpfLpMkH
Wincrease Team
30 Oct 14 04:55:26
Its Thursday so that means chart updates! $AAPL $AMZN $GOOGL $FB $TSLA $NFLX - http://t.co/lJgYoEoMHz
Luis Sanz ♔
30 Oct 14 04:54:41
RT @antoinepic: $FB : #WhatsApp buy: $2bn for users, $448m for brand, $288m for tech, $15bn in "goodwill" (via @tim) http://t.co/Rwv9LHXEfv
Allen Wastler
30 Oct 14 04:54:05
Top stock lookups on http://t.co/dw39TKnsmw ysty: $FB, $AAPL, $BABA, $TWTR, $BAC, $GILD, $SPY, $ARCP, $GE, $V, $F, $BIDU, $TSLA, $C, $AMZN
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30 Oct 14 04:49:51
@gpatronik "if your short (or long $fb) this is a good snapshot read...we'll said and part of our short premise http://t.co/woNJsySK4d"
Pot-stocks.com
30 Oct 14 04:45:51
Top 4 Signs the Stock is a Scam http://t.co/ttcBMo9ZS4 #stocks #trading $FB $GPRO $LNKD http://t.co/q2NDQSZB3V
Georgina Hurst
30 Oct 14 04:45:15
The Facebook Ice Bucket Challenge for Investors http://t.co/i039B4Mnqb via @iimag $FB
Jamie Lissette
30 Oct 14 04:43:39
if your short (or long $fb) this is a good snapshot read...we'll said and part of our short premise http://t.co/baEeE0FfNk
Trader 53
30 Oct 14 04:43:20
$AAPL Nice of Cook to put things straight, but it looks like he forgot to nominate the next 3... Hi Zuck! $FB
SuperCorp(not)Heroes
30 Oct 14 04:42:21
RT @tim: How Facebook accounts for its WhatsApp buy: $2bn for users, $448m for brand, $288m for tech, $15bn in "goodwill". $FB http://t.co/…
SmallCaps
30 Oct 14 04:42:11
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Consestimate
30 Oct 14 04:39:54
Cigna Results Exceed Expectations. $CI, $FB, $AAPL. http://t.co/Amd1vnXWmj http://t.co/GTZqhCpaV0
Yoda
30 Oct 14 04:39:48
RT @etfguide: WATCH: A $200,598 Retirement Plan That Almost Flunks! https://t.co/JG2kiFQT8K #PortfolioReportCard $QQQ $FB $TWTR #403b #Roth…
Chasing Stars
30 Oct 14 04:39:36
$FB % Change Click Here: http://t.co/GjW55tryr3 Also See: $ITB $ORCL $APT $CENX ~
Steve Mahoney
30 Oct 14 04:37:36
Tanzanite Fand 10.30.14 Common+Call Options $AAPL $BABA $FB $TWTR Bought In Dip 🎈 http://t.co/b5eQvGtnqL
Stock Wire
30 Oct 14 04:35:57
Topeka Views on Facebook Inc (FB) Earnings $FB http://t.co/WyZgFM9pmK
FonsieTrader
30 Oct 14 04:35:31
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30 Oct 14 04:35:19
$FB Quotes Click Here: http://t.co/2WYqgxJo4l Also See: $MU $GOOGL $FREE $XLV ~
Don Fishback
30 Oct 14 04:34:49
1 Day Decrease in ATM IV (Point change) $ZLTQ, $CRAY, $FARO, $SWI, $FB http://t.co/H7wZQ7wLEu
OptionApps
30 Oct 14 04:34:48
1 Day Decrease in ATM IV (Point change) $ZLTQ, $CRAY, $FARO, $SWI, $FB http://t.co/3dmxuFBk09
Technical Charting
30 Oct 14 04:31:53
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Stock Relay
30 Oct 14 04:31:46
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Jack Damn
30 Oct 14 04:31:38
Good morning. Swing book is flat to begin the day. Large Caps on watch: $BA $FB (post earnings) $CME (post earnings). ETFs: $UUP
Investors Hangout
30 Oct 14 04:30:29
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30 Oct 14 04:30:19
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HotKeyTrading
30 Oct 14 04:30:03
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Hotpage Business
30 Oct 14 04:29:34
#Facebook, #Google, and the Rise of Open Source Security Software - $FB $GOOG http://t.co/kFxVQKCyc4
Arthur Hill
30 Oct 14 04:28:32
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Emprendedor Digital
30 Oct 14 04:26:53
Topeka Views on Facebook Inc (FB) Earnings http://t.co/VkWrIbST8H Para invertir en la bolsa... http://t.co/buHHQxSSWk #FB $FB
Rosner Stocks
30 Oct 14 04:24:40
$FB News Click Here: http://t.co/oYTjQzYjj6 Also See: $HALO $APT $INTC $DECK ~
Stock Relay
30 Oct 14 04:24:03
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Financial Iceberg
30 Oct 14 04:22:23
Fibonacci Technical Levels $AMZN, $AAPL, $FB, $GOOG ​#amzn #aapl #fb #goog http://t.co/UfNlX4kN44
Investors Hangout
30 Oct 14 04:21:37
$FB Message Board Posts Click Here: http://t.co/rr439ig0rn Also See: $AMED $F $MOBL $TLT ~
PennyStock Zone
30 Oct 14 04:21:30
http://t.co/iBFjWBITEB <--- Amazing subscriber to Super_Trades - check out his profit chart!!! $VSR $NQ $YY $FB #stocks #trading
Wincrease Team
30 Oct 14 04:18:55
$FB made a spinning top candle off the sell from earnings. - http://t.co/XCyFmF6xHf
InterTrader
30 Oct 14 04:18:43
$LNKD reports Q3 figures after the US close. Can they post a better earnings surprise than $FB's +7.5%? #trading http://t.co/6gfTxJOK4O
Stock_Tracker
30 Oct 14 04:15:08
$FB 52Wk High Click Here: http://t.co/rmLe6b84Qf Also See: $F $BIDU $GLD $BAC ~
Stock Relay
30 Oct 14 04:14:31
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danrocks
30 Oct 14 04:12:01
$FB Exchange Click Here: http://t.co/oFZlxGH6Eg Also See: $FXI $ANV $IBM $SLV ~
jim50
30 Oct 14 04:11:40
$FB Ask Click Here: http://t.co/gZcdlPybLU Also See: $USO $NFLX $FXI $RWLK ~
WMG
30 Oct 14 04:03:03
Facebook vows aggressive spending $FB http://t.co/8S9LQWMxh4 http://t.co/pzkFbpPXDu
				
				
By  +Follow January 13, 2014 2:39PM
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