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. 13.52 -0.09 -0.66 7,118,782
GE General Electric Co 30.37 -0.08 -0.26 21,849,428
FB Facebook Inc. 133.53 -0.31 -0.23 12,276,490
INTC Intel Corporation 36.48 0.07 0.19 18,909,888
IBM International Business Machines Corp 180.67 -0.76 -0.42 3,552,495
AAPL Apple Inc. 135.72 0.38 0.28 22,198,197
XLNX Xilinx Inc. 60.06 0.45 0.75 2,490,596
SWN Southwestern Energy Company 8.68 0.07 0.81 18,481,820
RRC Range Resources Corporation 31.27 0.03 0.10 6,475,164
BBY Best Buy Co. Inc. 45.24 -0.13 -0.29 3,017,379
BA Boeing Company (The) 172.71 1.90 1.11 4,982,894
MU Micron Technology Inc. 23.35 0.37 1.61 22,108,736
CGFAY Continental Cl S/Adr n/a n/a n/a 0

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