The 4 Stocks That Sank the Dow on Friday
thinkstockJuly 24, 2015: Markets opened mixed again on Friday as traders and investors thought about recent earnings reports that have also be mixed. Amazon way up; Biogen way down, and that’s just for starters. Crude closed lower again and is…
July 24, 2015: Markets opened mixed again on Friday as traders and investors thought about recent earnings reports that have also be mixed. Amazon way up; Biogen way down, and that’s just for starters. Crude closed lower again and is down more than 5% for the week. Gold posted a fifth consecutive weekly loss. New home sales came in at a 7-month low in the Census Bureau’s report for June. Even the FCC’s approval of AT&T’s DirecTV acquisition didn’t move equities. Shortly before the closing bell the DJIA traded down 0.81% for the day, the S&P 500 traded down 0.99%, and the Nasdaq Composite traded down 1.01%.
The DJIA stock posting the largest daily percentage loss ahead of the close Friday was E. I. du Pont de Nemours and Co. (NYSE: DD) which traded lower by 2.60%% at $56.96. The stock’s 52-week range is $56.59 to $76.59, and the low was posted today. Trading volume was about 40% below the daily average of around 6 million. The company reports earnings next Tuesday and expectations are for a 10% drop in year-over-year revenues.
Chevron Corp. (NYSE: CVX) traded down 2.57% at $90.55. The stock’s 52-week range is $90.35 to $135.10, and the low was posted today. Nearly 8 million shares traded hands today, about 15% above the daily average of around 7 million. The company had no specific news today.
General Electric Co. (NYSE: GE) traded down 1.90% at $25.76. The stock’s 52-week range is $23.41 to $28.68. Trading volume was was about 30% below the daily average of around 31.5 million. The company had no specific news today.
The Goldman Sachs Group Inc. (NYSE: GS) traded down 1.60% at $207.67. The stock’s 52-week range is $168.02 to $218.77. Trading volume was about 25% below the daily average of around 2.5 million. The company had no specific news today.
Of the Dow 30 stocks 27 are set to close lower today and 3 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.