Equities Market Recap: Stocks End Winning Streak as Earnings Dissapoint

Brittney Barrett |

U.S. stocks slid on Monday, breaking a strong three day streak, as lower commodity prices forced down energy and raw-material producers. The Dow Jones Industrial Average sunk 26.11 points, or 0.21 percent, to 12,480 for the day while the S&P 500 dipped 2.3 points, or 0.16 percent, to 1,335 and the Nasdaq Composite gained 5.7 points, or 0.2 percent, to 2,825.88.



Positive earnings reports from last week receded from the spotlight today as companies released disappointing results. Kimberly-Clark (KMB) fell 2.74 percent for the day or 1.81 point after revealing an 8.9 percent decrease in first-quarter earnings. The $1.09 per share earnings were lower than analyst expectations of $1.17 per share

Thomson Reuters/Jefferies CRB Index of commodities slipped 0.2 percent today, pushing down shares of energy companies including Marathon Oil Corp. (NYSE: MRO) and Nucor Corp (NYSE: NUE).

The dollars weakness persisted today, driving gold up $5.40, or 0.36%, to $1,509 a troy ounce, closing at another record high.

Elsewhere in stocks, Investors demonstrated faith in Ford (NASDAQ: F) today, adding 0.71 percent to shares despite plants in Taiwan, China and South America struggling to resume full production since in the earthquake in Japan.

Merck (NYSE: MRK) added 0.85 percent today on the news that its hepatitis drug, Boceprevir, successfully eliminated the virus in 75% of patients. Lingering anxiety over potential side effect, including anemia and psychiatric consequences remain; however.

The volume today was the lowest recorded for the year.

 

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Companies

Symbol Name Price Change % Volume
CRMD CorMedix Inc 1.65 0.07 4.59 80,637
MRO Marathon Oil Corporation 15.85 0.00 0.00 13,249,700 Trade
MRK Merck & Company Inc. (new) 63.45 -0.19 -0.30 5,321,972 Trade
KMB Kimberly-Clark Corporation 132.24 -0.29 -0.22 854,966 Trade
NUE Nucor Corporation 60.10 0.33 0.55 2,005,958 Trade

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