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. 10.97 0.07 0.64 4,565,822 Trade
GE General Electric Co 23.19 -0.17 -0.73 58,639,089 Trade
FB Facebook Inc. 176.11 1.59 0.91 15,990,079 Trade
INTC Intel Corporation 39.79 0.03 0.08 15,532,818 Trade
IBM International Business Machines Corp 146.54 -0.29 -0.20 6,372,393 Trade
AAPL Apple Inc. 160.47 0.59 0.37 18,997,275 Trade
XLNX Xilinx Inc. 72.37 -0.29 -0.40 2,340,281 Trade
SWN Southwestern Energy Company 5.59 0.01 0.18 11,653,180 Trade
RRC Range Resources Corporation 19.45 -0.06 -0.31 4,404,531 Trade
BBY Best Buy Co. Inc. 54.65 -0.26 -0.47 3,662,352 Trade
BA Boeing Company (The) 258.62 -1.13 -0.44 2,515,865 Trade
MU Micron Technology Inc. 40.39 -1.10 -2.65 41,233,739 Trade
CGFAY Continental Cl S/Adr n/a n/a n/a 0

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