Markets Inch Ahead in Lackluster Session
Originally published: 05.18.15 by Margot Crabtree
Wall Street ended a session of waffling with a creep forwards, with the S&P 500 Index ending in record territory as our trading session ended May 15, 2015.
The Commerce Department reported that orders for durable goods were up by the highest amount in eight months in March. The University of Michigan’s consumer sentiment index jumped to 95.9 in April, but tumbled to 88.6 in May, the lowest reading since October and the biggest drop in over two years.
March’s overall construction spending fell 0.6 percent as the Commerce Department reported weakness in home building and government projects counterbalanced an increase in non-residential construction.
A report from the Commerce Department showed that the economy slowed to a near halt in the first quarter, growing at an annual rate of 0.2 percent, with weather, a slow-down in oil and gas drilling and tumbling exports pressuring advancement.
In early May, Wall Street loved the Goldilocks jobs report: a little stronger, but not so robust as to invite a rate-raise by the Federal Reserve. The reports reflecting a weaker economy, though, gave investors heart that the Fed will not move aggressively on interest rates in 2015.
"With the markets treading, it’s really reflecting what’s happening in the general economy," said Warren West, principal at Greentree Brokerage Services in Philadelphia. "The rest of the economy’s not breaking out, so how can the market?"
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
|
| NASD | AAON | AAON, Inc. | 23.14 | 24.56 | -1.42 | -5.78% | 25.17 | 16.78 | 54140 | 1252799.6 | |
| NYSE | ABB | ABB Ltd. | 22.21 | 22.08 | 0.13 | 0.59% | 24.15 | 19.14 | 2240000 | 49750400 | |
| NYSE | ARG | Airgas, Inc. | 103.04 | 105.48 | -2.44 | -2.31% | 119.00 | 99.61 | 75120 | 7740364.8 | |
| NYSE | AOS | AO Smith Corp. | 69.76 | 65.71 | 4.05 | 6.16% | 69.97 | 44.60 | 76050 | 5305248 | |
| NYSE | FIX | Comfort Systems USA, Inc. | 22.40 | 21.17 | 1.23 | 5.81% | 22.82 | 12.63 | 37230 | 833952 | |
| NYSE | DOV | Dover Corp. | 75.95 | 73.99 | 1.96 | 2.65% | 91.84 | 67.13 | 160380 | 12180861 | |
| NASD | ELON | Echelon Corp. | 0.93 | 0.93 | 0.00 | 0.00% | 2.96 | 0.89 | 44110 | 41022.3 | |
| NYSE | DD | E. I. DuPont de Nemours & Co. | 70.25 | 72.10 | -1.85 | -2.57% | 80.65 | 63.70 | 905240 | 63593110 | |
| NYSE | EME | EMCOR Group, Inc. | 45.83 | 47.53 | -1.70 | -3.58% | 48.00 | 38.68 | 62690 | 2873082.7 | |
| NYSE | EMR | Emerson Electric Co. | 60.19 | 59.16 | 1.03 | 1.74% | 68.80 | 54.95 | 668300 | 40224977 | |
| NYSE | FCAU | Fiat Chrysler | 15.45 | 16.49 | -1.04 | -6.31% | 17.08 | 8.54 | 1290000 | 19930500 | |
| NYSE | F | Ford Motor Co. | 15.48 | 16.07 | -0.59 | -3.67% | 18.12 | 13.26 | 3900000 | 60372000 | |
| NYSE | GM | General Motors Co. | 34.91 | 36.94 | -2.03 | -5.50% | 38.99 | 28.82 | 1610000 | 56205100 | |
| NYSE | HON | Honeywell International, Inc. | 106.85 | 103.79 | 3.06 | 2.95% | 106.92 | 82.89 | 781710 | 83525713.5 | |
| NASD | HDSN | Hudson Technologies, Inc. | 4.12 | 3.93 | 0.19 | 4.83% | 4.80 | 2.55 | 32360 | 133323.2 | |
| NYSE | IR | Ingersoll-Rand Plc | 70.91 | 69.19 | 1.72 | 2.49% | 70.93 | 52.47 | 264720 | 18771295.2 | |
| NYSE | JCI | Johnson Controls, Inc. | 50.48 | 50.00 | 0.48 | 0.96% | 53.41 | 38.60 | 654830 | 33055818.4 | |
| NYSE | LII | Lennox International Inc. | 114.06 | 113.58 | 0.48 | 0.42% | 114.24 | 72.91 | 45000 | 5132700 | |
| NYSE | LXU | LSB Industries, Inc. | 42.76 | 41.81 | 0.95 | 2.27% | 47.33 | 28.91 | 22730 | 971934.8 | |
| NYSE | MTW | Manitowoc Co., Inc. | 19.62 | 22.45 | -2.83 | -12.61% | 33.50 | 16.24 | 136150 | 2671263 | |
| NYSE | MLI | Mueller Industries, Inc. | 35.97 | 36.93 | -0.96 | -2.60% | 37.18 | 27.10 | 56930 | 2047772.1 | |
| NYSE | NWL | Newell Rubbermaid, Inc. | 40.08 | 39.63 | 0.45 | 1.14% | 40.73 | 28.89 | 268500 | 10761480 | |
| OTC | NSANY | Nissan Motor Co. Ltd. | 21.46 | 20.90 | 0.56 | 2.68% | 21.75 | 16.65 | 2100000 | 45066000 | |
| NASD | NTK | Nortek, Inc. | 84.00 | 89.16 | -5.16 | -5.79% | 92.30 | 70.73 | 16270 | 1366680 | |
| NASD | OFLX | OmegaFlex, Inc. | 31.12 | 26.67 | 4.45 | 16.69% | 39.46 | 15.93 | 10090 | 314000.8 | |
| NYSE | PH | Parker-Hannifin Corp. | 122.33 | 123.50 | -1.17 | -0.95% | 133.41 | 99.82 | 138680 | 16964724.4 | |
| NYSE | RBC | Regal-Beloit Corp. | 79.64 | 77.44 | 2.20 | 2.84% | 80.77 | 62.15 | 44720 | 3561500.8 | |
| NYSE | ROK | Rockwell Automation | 124.37 | 114.14 | 10.23 | 8.96% | 128.57 | 98.55 | 134580 | 16737714.6 | |
| OTC | SIEGY | Siemens Aktiengesellschaft | 110.00 | 110.14 | -0.14 | -0.13% | 136.27 | 103.20 | 835250 | 91877500 | |
| NYSE | SPW | SPX Corp. | 76.83 | 85.82 | -8.99 | -10.48% | 111.47 | 74.99 | 41030 | 3152334.9 | |
| NYSE | TXN | Texas Instruments | 55.61 | 58.50 | -2.89 | -4.94% | 59.99 | 41.47 | 1040000 | 57834400 | |
| NYSE | UTX | United Technologies Corp. | 118.49 | 117.87 | 0.62 | 0.53% | 124.45 | 97.30 | 890200 | 105479798 | |
| NYSE | WSO | Watsco, Inc. | 126.31 | 124.67 | 1.64 | 1.32% | 131.10 | 84.28 | 27570 | 3482366.7 |
Market listlessness was reflected in the HVACR Business Stock Index, with the index falling 27.10 points, or 2.03 percent, and closing at 1309.10. Advancing issues bested declining issues by an 18-to-14 count.
SPX Corp swung to a loss on the stronger dollar, and shares fell 8.99 points, or 10.48 percent. SPW lost $7.1 million, or $0.17 per share, compared to net income of $318 million, or 6.59 per share last year. Adjusted for one-time items, SPW earned $0.05 per share. Revenue was $947 million. Analysts surveyed by Zacks Investment Research expected earnings of $0.08 per share and revenue of $980.4 million. SPW closed at 76.83, and was the top dollar loser.
Rockwell Automation jumped 10.23 points, or 8.96 percent. The company’s fiscal second quarter results beat expectations on earnings, but missed on revenues. Net income was up 14.3 percent to $206 million, or $1.51 per share, compared with net income of $180.3 million, or $1.28 per share last year.
Excluding one-time items, ROK earned $1.59 per share. Revenue was $1.55 billion. Analysts polled by Zacks Investment Research expected $1.42 per share and revenue of $1.56 billion. Rockwell ended at 124.37, and was the top dollar gainer.
Manitowoc slid 2.83 points, or 12.61 percent even though the company narrowed its loss and met earnings expectations for its first quarter.
MTW said it lost $8.4 million, or $0.06 per share, compared to a loss of $8.8 million, or $0.06 per share last year. Adjusted for one-time items, Manitowoc earned $0.05 per share, in line with expectations. Revenue fell 11.5 percent, to $752.1 million, which exceeded the $749.9 million anticipated by analysts. MTW closed at 19.62, and was the top percentage loser.
Margot Crabtree is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit www.tradetrendsonline.com.