Markets’ Euphoria Put on Pause — Monday’s IP Market Recap

by Marc Bastow | January 28, 2013 5:18 pm

IPMarketRecap Markets' Euphoria Put on Pause    Monday's IP Market Recap[1]After tearing through four straight weeks of gains that have U.S. stock indices nearing new heights, and despite upbeat news on durable goods orders, investors took a bit of a breather Monday.

The S&P 500 fell off 0.18% to at least stay fractionally above the 1,500 mark at 1,500.18, and the Dow slumped 0.1% to 13,881.93. The previously beaten-down Nasdaq got some respite, however, up 0.15% to 3,154.30.

Shares of Apple (NASDAQ:AAPL[2]) managed to weather more downgrades and the momentary loss of its Most Valuable Company[3] title to Exxon Mobil (NYSE:XOM[4]) to gain just more than 2.25%, stemming a two-day slump that lopped off more than 14% of its share price.

Construction and mining equipment manufacturer Caterpillar (NYSE:CAT[5]) gained more than 2% to lead the Dow despite a 55% decline in fourth-quarter net income[6], partially due to a one-time $580 million charge. CAT also predicted a difficult year ahead.

Men’s retailer Jos. A. Bank (NASDAQ:JOSB[7]) fell roughly 15% after giving a harrowing warning on its full-year profits[8], which it expects to fall by 20% despite record revenues. Sectormate Men’s Wearhouse (NYSE:MW[9]) fell nearly 6% in sympathy.

Shares of global energy company Hess (NYSE:HES[10]) gained more than 6% after saying it would sell more assets as it exits the refining business and announced activist investor Elliot Associates is interested in buying a position[11].

Finally, Yahoo (NASDAQ:YHOO[12]) headed up more than 4% in after-hours trading following its Q4 earnings report. Yahoo grew revenues 2% to $1.35 billion, though earnings dipped 8% to $272 million, or 32 cents per share — though the latter figure did top estimates by 4 cents.

Earnings announcements on Tuesday included Corning (NYSE:GLW[13]), Pfizer (NYSE:PFE[14]), and Amazon (NASDAQ:AMZN[15]).

Three Up

Three Down

Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he is long AAPL, MSFT and YHOO.

Endnotes:
  1. [Image]: http://www.investorplace.com/hot-topics/investorplace-market-recap/
  2. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  3. Most Valuable Company: http://investorplace.com/2013/01/exxon-takes-back-title-of-most-valuable-company/
  4. XOM: http://studio-5.financialcontent.com/investplace/quote?Symbol=XOM
  5. CAT: http://studio-5.financialcontent.com/investplace/quote?Symbol=CAT
  6. 55% decline in fourth-quarter net income: http://investorplace.com/2013/01/cat-a-master-of-managing-expectations/
  7. JOSB: http://studio-5.financialcontent.com/investplace/quote?Symbol=JOSB
  8. harrowing warning on its full-year profits: http://investorplace.com/2013/01/jos-a-bank-drops-warning-bombshell/
  9. MW: http://studio-5.financialcontent.com/investplace/quote?Symbol=MW
  10. HES: http://studio-5.financialcontent.com/investplace/quote?Symbol=HES
  11. interested in buying a position: http://investorplace.com/2013/01/hess-plans-to-exit-refining-business-sell-u-s-terminals/
  12. YHOO: http://studio-5.financialcontent.com/investplace/quote?Symbol=YHOO
  13. GLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLW
  14. PFE: http://studio-5.financialcontent.com/investplace/quote?Symbol=PFE
  15. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
  16. RSH: http://studio-5.financialcontent.com/investplace/quote?Symbol=RSH
  17. ZNGA: http://studio-5.financialcontent.com/investplace/quote?Symbol=ZNGA
  18. NIHD: http://studio-5.financialcontent.com/investplace/quote?Symbol=NIHD
  19. SSYS: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSYS
  20. HLF: http://studio-5.financialcontent.com/investplace/quote?Symbol=HLF
  21. RIMM: http://studio-5.financialcontent.com/investplace/quote?Symbol=RIMM

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