Stock Index Recovers from Last Month’s Swoon
Originally published: 11.16.18 by Margot Crabtree
Our month began in turbulence with the start of earnings season and closed as stocks see-sawed with a plunge in oil as our trading session ended mixed Nov. 15, 2018. Markets closed mixed as The HVACR Business Index and the S&P 500 ended in negative terrain.
The National Association of Realtors said that home sales in September dropped for the sixth consecutive month, down 3.4 percent, the largest decline in two and a half years, and the lowest rate since November 2015. The Commerce Department said that construction spending was flat in September.
The Labor Department said that employers posted the most jobs in twenty years in August, and job openings rose to 7.14 million, the highest number on records dated to December 2000; in October, filled jobs were at the highest level since January 2009. The Commerce Department also said that consumer spending was up 0.1 percent in September, the weakest two-month showing since January, and below the increase of 0.6 percent expected by economists.
The Commerce Department said that the U.S. economy increased at 3.5 percent in the third quarter. The Conference Board said that consumer confidence rose again in October, to 137.9, from 135.3 in September. Although another interest rate hike is expected in December, the central bankers said that robust job increases and consumer spending were keeping the economy stable, but business investment slowed, possibly creating economic roadblocks down the line.
“We’re going back and forth between days when investors are taking risk-off and days when they’re taking risk back on,” said Jason Pride, chief investment officer of private clients at Glenmede. “We’re probably going to go through a period of this basically because it’s hard for investors to figure out where we are at this stage of the economic cycle.”
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
| NASD | AAON | AAON, Inc. | 40.96 | 32.25 | 8.71 | 27.01% | 44.90 | 29.05 | 52090 | 2133606.4 |
| NYSE | ABB | ABB Ltd. | 19.95 | 21.09 | -1.14 | -5.41% | 28.67 | 19.08 | 2130000 | 42493500 |
| NYSE | AOS | AO Smith Corp. | 46.25 | 47.56 | -1.31 | -2.75% | 68.39 | 40.34 | 143890 | 6654912.5 |
| NYSE | FIX | Comfort Systems USA, Inc. | 56.11 | 51.93 | 4.18 | 8.05% | 59.05 | 35.85 | 36960 | 2073825.6 |
| NYSE | DOV | Dover Corp. | 86.19 | 82.03 | 4.16 | 5.07% | 90.26 | 70.11 | 146330 | 12612182.7 |
| NYSE | DWDP | DowDuPont | 58.73 | 58.94 | -0.21 | -0.36% | 77.08 | 51.32 | 2290000 | 134491700 |
| NYSE | EME | EMCOR Group, Inc. | 74.26 | 69.12 | 5.14 | 7.44% | 85.08 | 63.81 | 57560 | 4274405.6 |
| NYSE | EMR | Emerson Electric Co. | 68.81 | 71.42 | -2.61 | -3.65% | 79.70 | 57.47 | 628470 | 43245020.7 |
| NYSE | FCAU | Fiat Chrysler | 16.58 | 16.22 | 0.36 | 2.22% | 24.95 | 14.97 | 1550000 | 25699000 |
| NYSE | F | Ford Motor Co. | 9.31 | 8.81 | 0.50 | 5.68% | 13.48 | 8.17 | 3910000 | 36402100 |
| NYSE | GM | General Motors Co. | 35.55 | 32.12 | 3.43 | 10.68% | 45.52 | 30.56 | 1410000 | 50125500 |
| NYSE | HON | Honeywell International, Inc. | 147.77 | 156.21 | -8.44 | -5.40% | 162.52 | 133.71 | 740290 | 109392653.3 |
| NASD | HDSN | Hudson Technologies, Inc. | 1.09 | 1.23 | -0.14 | -11.38% | 6.98 | 0.70 | 42400 | 46216 |
| NYSE | IR | Ingersoll-Rand Plc | 103.72 | 97.11 | 6.61 | 6.81% | 105.76 | 79.63 | 245660 | 25479855.2 |
| NYSE | JCI | Johnson Controls, Inc. | 33.52 | 33.15 | 0.37 | 1.12% | 41.53 | 30.60 | 924920 | 31003318.4 |
| NYSE | LII | Lennox International Inc. | 215.20 | 199.71 | 15.49 | 7.76% | 229.98 | 177.36 | 40280 | 8668256 |
| NYSE | LXU | LSB Industries, Inc. | 7.25 | 8.60 | -1.35 | -15.70% | 10.05 | 4.75 | 28620 | 207495 |
| NYSE | MTW | Manitowoc Co., Inc. | 19.07 | 21.05 | -1.98 | -9.41% | 44.03 | 16.74 | 35590 | 678701.3 |
| NYSE | MLI | Mueller Industries, Inc. | 25.29 | 25.81 | -0.52 | -2.01% | 37.57 | 23.32 | 57670 | 1458474.3 |
| NYSE | NWL | Newell Brands, Inc. | 21.38 | 17.43 | 3.95 | 22.66% | 32.58 | 15.12 | 472500 | 10102050 |
| OTC | NSANY | Nissan Motor Co. Ltd. | 17.93 | 17.82 | 0.11 | 0.62% | 22.14 | 17.39 | 3910000 | 70106300 |
| NASD | OFLX | OmegaFlex, Inc. | 58.67 | 62.90 | -4.23 | -6.72% | 95.00 | 53.50 | 10090 | 591980.3 |
| NYSE | PH | Parker-Hannifin Corp. | 169.94 | 163.53 | 6.41 | 3.92% | 212.80 | 143.00 | 132350 | 22491559 |
| NYSE | RBC | Regal-Beloit Corp. | 77.77 | 77.22 | 0.55 | 0.71% | 86.75 | 67.84 | 43140 | 3354997.8 |
| NYSE | ROK | Rockwell Automation | 172.70 | 169.02 | 3.68 | 2.18% | 209.38 | 153.67 | 120680 | 20841436 |
| OTC | SIEGY | Siemens Aktiengesellschaft | 57.93 | 58.19 | -0.26 | -0.45% | 77.17 | 56.78 | 814100 | 47160813 |
| NYSE | SPXC | SPX Corp. | 29.75 | 29.75 | 0.00 | 0.00% | 39.28 | 28.21 | 43390 | 1290852.5 |
| NYSE | TXN | Texas Instruments | 97.96 | 99.43 | -1.47 | -1.48% | 120.75 | 87.90 | 960540 | 94094498.4 |
| NYSE | UTX | United Technologies Corp. | 129.73 | 130.33 | -0.60 | -0.46% | 144.15 | 115.40 | 800980 | 103911135.4 |
| NYSE | WSO | Watsco, Inc. | 145.81 | 164.27 | -18.46 | -11.24% | 192.94 | 138.61 | 29050 | 4235780.5 |
|
|
Price 11/15/18 |
Price 10/15/18 |
Net Change |
Percent Change |
| HVACR Business Stock Index | 1,423.73 | 1,426.74 | -3.01 | -0.21% |
| Dow Jones Industrial Average | 25,289.27 | 25,250.55 | 38.72 | 0.15% |
| S&P 500 Index | 2,730.20 | 2,750.79 | -20.59 | -0.75% |
| NASDAQ Composite | 7,259.03 | 7,430.74 | -171.71 | -2.31% |
Gainers/Losers |
||||
| $ Gainer | Lennox International Inc. | 15.49 | ||
| $ Loser | Watsco, Inc. | -18.46 | ||
| % Gainer | AAON, Inc. | 27.01% | ||
| % Loser | LSB Industries, Inc. | -15.70% | ||
| Advancers | 15 | |||
| Decliners | 14 | |||
| Unchanged | 1 | |||
The HVACR Business Stock Index inched down 3.01 points, or 0.21 percent, closing at 1423.73; the largest four companies in the index ended in negative terrain. However, advancing squeezed by declining issues by a 15-to-14 count.
LSB Industries widened its loss and shares fell 1.35 points, or 15.70 percent. For the third quarter, LXU said it lost $26.1 million, or $1.22 per share, compared to a loss of $17.1 million, or $0.91 per share in the year-ago quarter. Revenue was $79.8 million, versus last year’s $92.4 million. LXU closed at 7.25 and was the top percentage loser.
Lennox was the top dollar gainer this month despite missing on earnings and revenue. For the third quarter, LII posted net income of $108 million, or $2.65 per share. Adjusted for one-time items, Lennox earned $2.72 per share. Adjusted revenue was $1.02 billion. Analysts polled by Zacks expected earnings of $2.91 per share and revenue of $1.06 billion. LII jumped 15.49 points, or 7.76 percent, and ended at 215.20.
Watsco tumbled 18.46 points, or 11.24 percent, and closed at 145.81. For the third quarter, WSO reported net income of $72.7 million, or $2.11 per share. Revenue was $1.3 billion. Analysts expected earnings of $2.25 per share. Investment firm JP Morgan cut its rating to “underweight” from “neutral.” WSO was the top dollar loser.