DJIA Continues Its Tumble While NASDAQ, S&P Continue to Climb

Michael Teague |

Earnings continued to drive mixed results for stock prices on Wednesday, with the Dow Industrials off yet again and the Standard & Poor’s 500 as well as the NASDAQ enjoying another up day.

  • Dow Jones Industrial Average: -0.25 percent to 16,373.34

  • Standard & Poor’s 500 Index: +0.06 percent to 1,844.86

  • NASDAQ Exchange: +0.41 percent to 4,243

Our Top Stories:

On the Dow:

Earnings continued to be a downer for some of the largest US companies, and on Wednesday it was IBM’s (IBM) turn. The blue chip tech stalwart reported a miss on revenue expectations for the fourth consecutive quarter, resulting in a sell-off that saw the company close 3 percent lower.

The world’s largest chip-manufacturer Intel (INTC) was off by about 1 percent by the end of the session after the company announced that it would be laying off about 5 percent of its current staff.

Boeing (BA) lent an air of dignity to the struggling benchmark, adding nearly 3 percent by the end of the session after receiving large orders for its 787 Dreamliner from China, as well as General Electric (GE) .

On the S&P 500:

It was a big day for independent oil & gas stocks, with gains of at least 3 percent for each of Anadarko Petroleum (APC) , who benefitted from David Einhorn’s announcement that his Greenlight Capital would be taking a position in the company, and was followed by Southwestern Energy (SWN) , Range Resources (RRC) , and WPX Energy (WPX) .

Major retailer Best Buy (BBY) posted a 6 percent gain on heavy trading, after weathering the previous week’s brutal sell-off.

On the NASDAQ:

Tech shares drove the NASDAQ throughout the day. While Facebook (FB) was nearly 2 percent with Intel in tow, a number of tech stocks made substantial gains throughout Wednesday trading, including Micron Technology (MU) , Apple (AAPL) , Nuance Communications (NUAN) , and Xilinx Inc. (XLNX) .

 

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Companies

Symbol Name Price Change % Volume
WPX WPX Energy Inc. 14.51 -0.22 -1.46 3,385,552
GE General Electric Co 31.11 0.00 0.00 4,978,177
FB Facebook Inc. 116.76 -0.68 -0.57 7,417,191
INTC Intel Corporation 34.42 0.03 0.09 3,507,349
IBM International Business Machines Corp 159.44 -0.41 -0.25 743,304
AAPL Apple Inc. 109.50 0.39 0.36 9,911,296
XLNX Xilinx Inc. 54.22 -0.15 -0.28 543,344
SWN Southwestern Energy Company 12.25 -0.04 -0.33 4,180,836
RRC Range Resources Corporation 38.26 -0.17 -0.43 788,802
BBY Best Buy Co. Inc. 47.00 0.46 0.99 1,403,733
BA Boeing Company (The) 151.05 -1.11 -0.73 1,165,932
MU Micron Technology Inc. 18.73 0.12 0.62 6,726,993
CGFAY Continental Cl S/Adr n/a n/a n/a 0

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