Despite a very strong overall earnings season, investors were disappointed in Caterpillar‘s (NYSE:CAT) second-quarter numbers, released today, and the S&P 500 Index ticked down by about 0.15% to around 1,340. The S&P 500 is up more than 6.6% for the year.
Taking the S&P lower with a loss of more than $12.65, or about 11.25%, was CR Bard (NYSE:BCR), dropping to under $100 on disappointing earnings. CR Bard is trading in double-digit numbers beneath its 20- and 50-day moving averages. It has a relative strength index rating of 25.42, with 30 the floor for a stock to be viewed as oversold.
Also lower in the medical instruments industry thanks to disappointing earnings was Edwards Lifesciences (NYSE:EW), with a 5.7% loss to under $77.85, shedding more than $4.70 per share. Edwards Life Sciences is trading well below its 20-, 50- and 200-day moving averages. The relative strength index for the stock is 22.31.
Down by about 5% was Rockwell Collins (NYSE:COL), the aerospace and defense firm, as its earnings failed to please investors. Reports from Washington of a debt ceiling deal that featured cuts in defense spending has stocks in the industry lower. Rockwell Collins is down for the month and trading beneath its 20-, 50- and 200-day moving averages. It has a relative strength rating of 37.41.
Advanced Micro Devices (NYSE:AMD) was up almost 15%, about $1, in morning buying and selling to over $7.40 on strong earnings and an analyst upgrade. Before it released its numbers, the stock was down about 10% for the month.
Riding the higher tech earnings wave was SanDisk (NASDAQ:SNDK), higher by about $3.80, more than a 9% jump to over $45.40. SanDisk is trading above its 20- and 50-day moving averages and is up for the week. It has a relative strength index rating of 61.29, with 70 the level for when a stock is considered to be overbought.
Western Digital (NYSE:WDC) jumped about $3, or about 8.3%, to over $38 on strong results, overcoming a downgrade this morning from ThinkEquity. The stock is trading above its 20-, 50- and 200-day moving averages with a relative strength index rating of close to 60.
Jonathan Yates does not own any of the stocks mentioned in this article.
