Monday
August
03
2015
6:27 pm
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 
Mixed day on Wall Street
January 22, 2014, 05:00 AM The Associated Press

NEW YORK — The Standard & Poor’s 500 index logged a small gain Tuesday on a mixed day for the stock market.

Health-care giant Johnson & Johnson slipped after it warned that pressure to keep prices low would likely mean slightly lower profits than forecast. Delta Air Lines gained after reporting a better-than-expected profit in the fourth quarter as fares and traffic rose.

Company earnings were the main focus for investors Tuesday as there were no major economic releases. So far, the stock market has failed to get a big lift from earnings reports and investors appear to be assessing the results more critically than they did a year ago.

“Earnings are coming in and, candidly, we’re getting a mixture picture for the fourth quarter so far,” said Jim Russell, an investment director at U.S. Bank.

The Standard & Poor’s 500 rose 5.10 points, or 0.3 percent, to 1,843.80. The Dow Jones industrial average fell 44.12 points, or 0.3 percent, to 16,414.44. The Nasdaq composite edged up 28.18 points, or 0.7 percent, to 4,225.76.

J&J, one of the 30 members of the Dow, slipped $1.03, or 1.1 percent, to $94.03, helping pull the index lower. Another Dow component, Verizon Communications, fell after reporting its own earnings.

Among the day’s winners were Dow Chemical and Alcoa.

Dow Chemical rose $2.86, or 6.6 percent, to $45.93 after hedge fund Third Point LLC said Tuesday that it has acquired a significant stake in the company and wants it to spin off its petrochemicals division.

Alcoa surged 77 cents, or 6.8 percent, to $12.13 after analysts at JPMorgan raised their price target for the stock, predicting Alcoa will benefit from tightening aluminum markets.

After surging almost 30 percent last year, stocks are starting the year in a more subdued fashion. The S&P 500 is down 0.3 percent for the year.

In bond trading, the yield on the 10-year Treasury note rose to 2.83 percent from 2.82 percent on Friday. U.S. markets were closed Monday for the Martin Luther King Jr. Day holiday.

Among other stocks making big moves:

• Delta increased $1.01, or 3 percent, to $32.08 after reporting a better-than-expected profit in the fourth quarter as fares and traffic rose. The airline’s president said demand was strong, and forecast that profit margins would increase in the current quarter.

• Expedia dropped $3.02, or 4.2 percent, to $67.67 after a blog Search Engine Land reported Expedia online visibility fell dramatically, and cited actions taken by Google to punish companies that it believes are trying to game its search algorithms. Officials from Expedia did not immediately respond to requests for comment from The Associated Press.

 

 

Tags: percent, after, earnings, quarter, reporting, profit,


Other stories from today:

 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
How often do you go to the movies?

Once a week
More than once a week
Once a month
A few times a year
About once a year
Never

 

 
 
 
 
 
 
 
Obama heralds impact of power plant greenhouse gas limits
WASHINGTON — Calling it a moral obligation, President Barack Obama unveiled the final version of h..
Weather helps crews battling massive California wildfire
LOWER LAKE, Calif. — Cooler, wetter weather helped crews make inroads Monday against a massive Nor..
US auto sales strong in July on SUV, luxury demand
DETROIT — Summer deals and big demand for SUVs and luxury vehicles kept U.S. auto sales strong in ..
Former trader given 14 years prison for market manipulation
LONDON — A British judge sentenced a former Citibank and UBS trader to 14 years in prison Monday a..
Sen. Schumer, comedian Amy Schumer call for more gun control
NEW YORK — Stand-up comedian and actress Amy Schumer is teaming up with New York Sen. Charles Schu..
More >>  
 
 
  
 
  
 
©2015 San Mateo Daily Journal
San Mateo County marketing