December 11, 2013: Markets opened lower again on Wednesday morning on another day of relatively light trading and yet more profit-taking. The DJIA closed down 0.81%, the S&P 500 closed down 1.13%, and the Nasdaq Composite closed down 1.40%. A 10-for-1 stock split at MasterCard Inc. (NYSE: MA) was probably the most positive news out all day. Here’s a closer look at the biggest movers on the Dow today.
Among heavily traded DJIA stocks, Nike Inc. (NYSE: NKE) traded about 1.7 million shares more than its daily average today on an all-around down day for the markets. Nike’s drop alone accounts for nearly 30% of the DJIA’s loss for the day. Shares closed at $76.81, down 3.05%, in a 52-week range of $48.40 to $80.26.
Another DJIA stock leading the way down today was UnitedHealth Group Inc. (NYSE: UNH) which traded about 10% below its average daily volume of 5.2 million shares. The health insurer could be taking a hit on the news that signups for Obamacare are rising. The stock closed down 2.67% at $72.07 in a 52-week range of $51.36 to $75.88.
Pfizer Inc. (NYSE: PFE) opened slightly higher this morning and fell to a daily low in the mid-morning. Shares traded about 10% above average daily volume of 25 million. The U.S. Supreme Court refused to hear an appeal of the $142 million judgment against the drug maker. Shares for the stock closed down 2.2% at $30.65 in a 52-week range of $24.63 to $32.50.
Verizon Communications Inc. (NYSE: VZ) also opened lower this morning and the stock price continued dropping all day. Share volume was roughly equal to the daily average of 13 million. The company’s spectrum swap offer and acquisition of a small content delivery network also cooled enthusiasm for the shares today. The stock closed down 1.18% at $48.47 in a 52-week range of $41.50 to $54.31.
A fifth DJIA component, Visa Inc. (NYSE: V) rode MasterCard’s coattails to a nice pickup today, but it was one of only seven DJIA stocks to close higher for the day. More than twice the daily average number of shares traded hands today. The stock closed at $205.71, up 3.15%, on Wednesday, in a 52-week range of $146.25 to $207.91. Shareholders here looking for another split?