DJIA, S&P 500 Slip as NASDAQ Falls Amid Corporate Earnings

Michael Teague |

The nonchalance of Carl Icahn in his Tuesday evening CNBC interview, as he was handed and then proceeded to sip on a martini, was of no solace to investors in Wednesday’s trading session, as stocks slipped across the board by the closing bell.

While the Dow and S&P ended only modestly lower, the NASDAQ was dragged further asunder by tech shares, as companies throughout the sector pared back gains from previous sessions.

Ahead of a much-anticipated earnings statement from Apple (AAPL) , economic data in the form of drastically lower housing sales for the month of March, an anemic preliminary reading on US manufacturing, and poor results from AT&T (T) and Amgen (AMGN) held the broader market back.

Results for April 23, 2014

●     Standard & Poor’s 500: -0.22 percent to 1,875.39

●     NASDAQ: -0.83 percent to 4,126.97

●     Dow Jones Industrial Average: -0.08 percent to 16,501.65

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●     Senior Editor Michael Teague provides a quasi-psychoanalytic analysis of Silicon Valley’s newest escape vehicle Tsunamiball in the context of the new tech bubble many have been warning of.

●     As a reminder of the growing importance of offshore oil and gas production, readers should have a look at this National Geographic documentary about Royal Dutch Shell’s ($RDS.A) Gulf of Mexico Perdido well.

●     A handy infographic detailing seven basic mistakes made by retirement-investors.

Stocks

●     Some of the components of Equities.com’s Small-Cap Stars index, including Plug Power (PLUG) , are handily outperforming the broader small-cap market in 2014, and this despite the recent downturn in growth-stocks.

●     Senior Editor Jacob Harper revisits breakout micro-cap tech stocks.

●     A reminder that three IPOs were rescheduled from last week to the current one: Scynexis ($SCYX), Quotient ($QTNT), and Aldeyra Therapeutics ($ALDX).

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
AAPL Apple Inc. 109.95 0.84 0.77 26,195,462
QTNT Quotient Limited 5.04 0.51 11.26 557,101
AMGN Amgen Inc. 145.11 -0.18 -0.12 2,399,021
ALDX Aldeyra Therapeutics Inc. 5.45 0.15 2.83 9,950
SCYX SCYNEXIS Inc. 3.63 0.02 0.55 267,297
T AT&T Inc. 39.35 0.72 1.86 23,569,775
PLUG Plug Power Inc. 1.53 0.06 4.08 5,052,190
IPMLF Imperial Metals Corp 4.62 -0.22 -4.60 5,000
RDSA Royal Dutch Shell Plc ADR Sponsored Repstg A Shs n/a n/a n/a 0

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