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

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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) .

 

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

Companies

Symbol Name Price Change % Volume
WPX WPX Energy Inc. 13.41 0.39 3.00 6,526,672 Trade
GE General Electric Company 10.09 0.05 0.50 78,344,511 Trade
FB Facebook Inc. 162.50 -1.45 -0.88 15,504,415 Trade
INTC Intel Corporation 51.66 0.85 1.67 22,520,361 Trade
XLNX Xilinx Inc. 119.31 1.79 1.52 3,019,593 Trade
SWN Southwestern Energy Company 4.19 0.18 4.49 16,721,848 Trade
RRC Range Resources Corporation 10.87 0.49 4.72 6,034,928 Trade
BBY Best Buy Co. Inc. 60.18 0.61 1.02 1,951,642 Trade
MU Micron Technology Inc. 41.99 -0.24 -0.57 28,968,391 Trade
CGFAY Continental Coal Ltd ADR (Sponsored) (New) n/a n/a n/a 0
IBM International Business Machines Corporation 138.03 1.55 1.14 3,844,062 Trade
AAPL Apple Inc. 170.42 -0.38 -0.22 24,626,814 Trade
BA The Boeing Company 417.97 8.15 1.99 4,017,338 Trade

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Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

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