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

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

InvestorPlace 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 As of this writing he is long AAPL, MSFT and YHOO.

  1. [Image]:
  2. AAPL:
  3. Most Valuable Company:
  4. XOM:
  5. CAT:
  6. 55% decline in fourth-quarter net income:
  7. JOSB:
  8. harrowing warning on its full-year profits:
  9. MW:
  10. HES:
  11. interested in buying a position:
  12. YHOO:
  13. GLW:
  14. PFE:
  15. AMZN:
  16. RSH:
  17. ZNGA:
  18. NIHD:
  19. SSYS:
  20. HLF:
  21. RIMM:

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