The 4 Stocks That Dominated the Market on Monday
thinkstockMarch 17, 2014: Markets opened higher on Monday very likely breathing a sigh of relief that the situation in Crimea did not turn into a military confrontation. There’s also a feeling that U.S. and E.U. sanctions are unlikely to give…
March 17, 2014: Markets opened higher on Monday very likely breathing a sigh of relief that the situation in Crimea did not turn into a military confrontation. There’s also a feeling that U.S. and E.U. sanctions are unlikely to give Russia much of a headache. In the final minutes of trading the DJIA was up 1.00%, the S&P 500 was up 0.84%, and the Nasdaq Composite was up 0.74%.
Every one of the 30 Dow stocks is trading higher about half an hour before Monday’s closing gell. International Business Machines Corp. (NYSE: IBM) has posted the largest gain today, up 1.82% at $185.55 in a 52-week range of $172.19 to $215.82 just ahead of the closing bell. Volume is on track to be about 20% below the daily average of some 5 million shares traded. IBM’s share price is second-highest among the Dow stocks.
Facebook Inc. (NASDAQ: FB) is among the most heavily traded Nasdaq stocks today following a downgrade this morning from Buy to Hold from Argus. The impact was limited though, as we pointed out earlier because Argus maintained both its $73 price target and its long-term outlook for the stock. Shares are up 1.21% at $68.56 in a 52-week range of $22.67 to $72.59. Share volume was about two-thirds the daily average of around 64 million shares traded.
Among other actively traded stocks on the Nasdaq today, Kandi Technologies Group Inc. (NASDAQ: KNDI) is up 22.41%. The Chinese car maker posted solid earnings growth numbers this morning and looks to be on track for an even better year in 2014. The stock will close at around $21.28 in a 52-week range of $3.55 to $22.11 (the high was set today). Volume was about 6-times the daily average of around around 2.8 million shares traded.
The Boeing Co. (NYSE: BA) trades up another 1.73% today after gaining nearly 2% on Friday. The stock is set to close at $125.23 in its 52-week range of $83.80 to $144.57 shortly before the closing bell. Trading volume for Boeing’s shares was about 40% below the daily average of around 5.3 million shares.
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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.