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.

 

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
CRMD CorMedix Inc 2.58 0.08 2.99 236,156
KMB Kimberly-Clark Corporation 126.45 1.23 0.98 892,966
MRK Merck & Company Inc. (new) 62.44 0.53 0.85 6,031,287
MRO Marathon Oil Corporation 16.09 0.19 1.20 12,193,080
NUE Nucor Corporation 49.59 0.73 1.49 1,541,417

Comments

Emerging Growth

MGX Minerals Inc.

MGX Minerals is a diversified Canadian mining company listed on the Canadian Securities Exchange. MGX is engaged in the acquisition and development of industrial mineral deposits in western Canada that…

Private Markets

Snapwire

A peer-to-Peer authentic photo marketplace disrupting the $10B commercial photography industry.

BioSculpture Technology, Inc.

BioSculpture Technology, Inc. (“BST”) is a commercial-stage medical device manufacturer of liposuction surgical instruments for surgeons. It offers the FDA-cleared Twin Cannula Assisted Liposuction ("TCAL") Airbrush Liposculptor IIIntellimotion® controllers, Airbrush®…