The 4 Stocks That Dominated the Market on Monday
thinkstockMarch 10, 2014: Markets opened lower on Monday following a weekend report that Chinese exports fell 18%. That’s generally viewed as an indication that the global economy is weak and that equities might not be the best investment at the…
March 10, 2014: Markets opened lower on Monday following a weekend report that Chinese exports fell 18%. That’s generally viewed as an indication that the global economy is weak and that equities might not be the best investment at the moment. Share prices picked up a bit in the afternoon but never made it into positive territory all day. In the final minutes of trading the DJIA was down 0.17%, the S&P 500 was down 0.03%, and the Nasdaq Composite was down 0.08%.
Today’s big decliner among the Dow stocks was The Boeing Co. (NYSE: BA). The company absorbed a couple of pieces of bad news over the weekend: some cracks were found in the composite wings of 787s that were still being assembled; and the Malaysian Airlines plane that disappeared is a Boeing 777. The company’s shares traded down 1.02% at $127.22 in a 52-week range of $80.96 to $144.57 just ahead of the closing bell. Volume is on track to be about 15% above the daily average of around 5 million shares traded.
The most heavily traded Nasdaq stock today is Plug Power Inc. (NASDAQ: PLUG), as it was last Friday. The fuel cell maker to attract investors following its deal with Wal-Mart Stores Inc. (NYSE: WMT). Peer companies FuelCell Energy Inc. (NASDAQ: FCEL) and Ballard Power Systems Inc. (NASDAQ: BLDP) are also booming again today. Shares of Plug Power are set to close up 23.1% at $10.15 in a 52-week range of $0.15 to $11.41 (a new 52-week high today). Share volume was more than 7-times the daily average of around 28 million shares traded.
On a day when all but a handful of Dow 30 stocks are trading lower, Intel Corp. (NASDAQ: INTC) is seeing a share price boost of 0.87%. There are those who believe the company will raise its dividend this year after failing to do so last year. The stock will close at around $24.85 in a 52-week range of $20.75 to $27.12. Volume was almost 30% below the daily average of around nearly 31 million shares traded.
S&P 500 stock Facebook Inc. (NASDAQ: FB) is up 3.09% today and traded at $71.97 in its 52-week range of $22.67 to $72.15 (a new 52-week high today) shortly before the closing bell. The company’s price target was boosted at two analyst firms today, one from $72 to $90 a share and the other from $60 to $70 a share. Trading volume for Facebook’s shares was about 15% below the daily average of nearly 50 million shares.
Of the Dow 30 stocks 9 are set to close higher today while 21 are on their way to a lower close.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.