Markets’ Euphoria Put on Pause — Monday’s IP Market Recap
by Marc Bastow | January 28, 2013 5:18 pm
[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
- RadioShack (NYSE:RSH[16]): Up 22% (58 cents) to $3.22.
- Zynga (NASDAQ:ZNGA[17]): Up 14.1% (35 cents) to $2.84.
- Nii Holding (NASDAQ:NIHD[18]): Up 5.5% (40 cents) to $7.66.
Three Down
- Stratasys (NASDAQ:SSYS[19]): Down 9.9% ($8.64) to $78.47.
- Herbalife (NYSE:HLF[20]): Down 8.2% ($3.57) to $40.02.
- Research In Motion (NASDAQ:RIMM[21]): Down 7.8% ($1.36) to $16.18.
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he is long AAPL, MSFT and YHOO.
- [Image]: https://www.investorplace.com/hot-topics/investorplace-market-recap/
- AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
- Most Valuable Company: https://investorplace.com/2013/01/exxon-takes-back-title-of-most-valuable-company/
- XOM: http://studio-5.financialcontent.com/investplace/quote?Symbol=XOM
- CAT: http://studio-5.financialcontent.com/investplace/quote?Symbol=CAT
- 55% decline in fourth-quarter net income: https://investorplace.com/2013/01/cat-a-master-of-managing-expectations/
- JOSB: http://studio-5.financialcontent.com/investplace/quote?Symbol=JOSB
- harrowing warning on its full-year profits: https://investorplace.com/2013/01/jos-a-bank-drops-warning-bombshell/
- MW: http://studio-5.financialcontent.com/investplace/quote?Symbol=MW
- HES: http://studio-5.financialcontent.com/investplace/quote?Symbol=HES
- interested in buying a position: https://investorplace.com/2013/01/hess-plans-to-exit-refining-business-sell-u-s-terminals/
- YHOO: http://studio-5.financialcontent.com/investplace/quote?Symbol=YHOO
- GLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLW
- PFE: http://studio-5.financialcontent.com/investplace/quote?Symbol=PFE
- AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
- RSH: http://studio-5.financialcontent.com/investplace/quote?Symbol=RSH
- ZNGA: http://studio-5.financialcontent.com/investplace/quote?Symbol=ZNGA
- NIHD: http://studio-5.financialcontent.com/investplace/quote?Symbol=NIHD
- SSYS: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSYS
- HLF: http://studio-5.financialcontent.com/investplace/quote?Symbol=HLF
- RIMM: http://studio-5.financialcontent.com/investplace/quote?Symbol=RIMM
Source URL: https://investorplace.com/2013/01/markets-euphoria-put-on-pause-mondays-ip-market-recap/