Stocks Mostly Down On Weak Manufacturing Data & Earnings

Michael Teague  |

Stocks were mostly down on Tuesday, as the Standard & Poor’s 500 snapped a four-day run of all-time high closes, and investors awaited earnings reports from Apple Inc. (AAPL) and AT&T (T) .

The Federal Reserve Bank of Richmond released data from its index of manufacturing activity indicating an unexpected drop in the mid-Atlantic region for the month of July, from June’s’s +8 reading to a reading of -11, a far cry from the +7 that had been the expectation of economists.

Meanwhile, the slew of earnings reports over the last two weeks has shown a large number of companies who have been able to increase earnings-per-share, while revenues and sales growth have remained somewhat stagnant.

The S&P 500 shed 0.19 percent to end the day at 1,692.93 points, while the NASDAQ dropped 0.59 percent to 3,579.27. The Dow Jones Industrial Average managed to stay in the positive, to the tune of 22 points, up 0.14 percent to close trading at 15,567.74.

The S&P was weighed down mainly by tech shares, with losses for Sprint Nextel (S) , Broadcom Corp. (BRCM) , Yahoo! (YHOO) and Dell Inc. (DELL) . Basic materials stocks held their own against the day’s losses, with gains for mining companies such as Peabody Energy (BTU) and Cliff’s Natural Resources (CLF) , as well as oil and gas refiners Marathon Petroleum (MPC) and Phillips 66 (PSX) .

United Technologies Corp. ($UTX) was the Dow’s best performer of the day after releasing its second-quarter earnings report early in the day indicating the company beat earnings-per-share expectations.

On the NASDAQ, security software and services company Sourcefire Inc. (FIRE) jumped over 27 percent to $75.50 on news that the company would be purchased by Cisco Systems (CSCO) .

[Image Courtesy of Wikimedia Commons]

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
MPC Marathon Petroleum Corporation 65.01 0.39 0.60 3,836,562 Trade
S Sprint Corporation 6.33 0.03 0.48 15,202,542 Trade
UTX United Technologies Corporation 128.64 0.88 0.69 6,092,531 Trade
PSX Phillips 66 96.75 0.76 0.79 2,107,969 Trade
CSCO Cisco Systems Inc. 49.65 0.22 0.45 20,206,191 Trade
BTU Peabody Energy Corporation 31.11 0.07 0.23 727,236 Trade
YHOO Yahoo! Inc. n/a n/a n/a 0 Trade
CLF Cleveland-Cliffs Inc. 11.24 -0.05 -0.44 10,064,686 Trade
BRCM Broadcom Corp. n/a n/a n/a 0 Trade
T AT&T Inc. 30.63 0.16 0.53 24,716,731 Trade
ICPW Ironclad Performance Wear n/a n/a n/a n/a
AAPL Apple Inc. 170.93 0.51 0.30 19,017,838 Trade

Comments


Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

What Is Petrolithium?

MGX Minerals explains the advantages of petrolithium and how they are helping to solve future problems today.

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…