The 4 Stocks That Tanked the DJIA on Friday
thinkstockMarch 13, 2015: Markets opened lower on Friday as crude oil prices weighed on markets while the dollar strengthened. Producer prices fell in February stoking worries about deflation. Gold finished a little higher on the day, but crude oil lost…
March 13, 2015: Markets opened lower on Friday as crude oil prices weighed on markets while the dollar strengthened. Producer prices fell in February stoking worries about deflation. Gold finished a little higher on the day, but crude oil lost nearly 10% for the week. Shortly before the closing bell the DJIA traded down 0.93% for the day, the S&P 500 traded down 0.75%, and the Nasdaq Composite traded down 0.55%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was International Business Machines Corp. (NYSE: IBM) which traded down 2.44 at $154.12. The stock’s 52-week range is $149.52 to $199.21. Trading volume was about 10% below the daily average of around 4.9 million shares. The company had no specific news today.
United Technologies Corp. (NYSE: UTX) traded down 2.18% at $118.60. The stock’s 52-week range is $97.30 to $124.45. Trading volume was about a third higher than the daily average of around 3.9 million shares. The company announced a $2.65 billion stock buyback this morning, but investors are not impressed.
The Coca-Cola Co. (NYSE: KO) traded lower by 1.66%% at $39.9. The stock’s 52-week range is $37.88 to $45.00. Trading volume was about 10% below the daily average of around 15 million shares. The company had no specific news today.
Caterpillar Inc. (NYSE: CAT) traded down 1.37% at $79.09. The stock’s 52-week range is $78.19 to $111.46, and the low was posted today. Trading volume was about equal to the daily average of around 6.5 million shares. The company had no specific news today, but a strong dollar is an anchor for the heavy equipment maker.
Of the Dow 30 stocks 25 are set to close lower today and 5 are on track to close higher.
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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.
