Stocks Hit Rough Patch as Earnings Begin
Originally published: 04.17.17 by Margot Crabtree
The Nasdaq hit a new high this session, but little else was upbeat as our trading session ended April 13, 2017; markets were closed for Good Friday on the 14th. The American Health Care Act dominated the first week of our session, and markets waffled on the uncertainty.
Economists forecast that new home sales would rise 0.7 percent in February; instead, the Commerce Department said they improved 6.1 percent, a 7-month high, up 12.8 percent from this time last year.
The National Association of Realtors, however, said that sales of existing homes fell 3.7 percent in February following a jump in January. The National Association of Realtors said its February pending home sales index hit 112.3, a 5.5 percent increase and the second-highest reading since 2006.
Trading remained listless as the quarter ended, though the quarter itself was solidly positive. The Commerce Department reported that consumer spending increased a lackluster 0.1 percent in February. The Conference Board said that its consumer confidence index jumped to 125.6 in March, from 116.1 in February, the strongest reading since December, 2000.
The Labor Department said that employers added 98,000 jobs in March, far below the 178,000 jobs expected, provided by FactSet. However, the pace of unemployment fell to 4.5 percent, the lowest since May 2007. The Commerce Department said that orders to U.S. factories rose 1 percent in February, following a 1.5 percent gain in January.
A March gauge for factory activity, from the Institute of Supply Management, fell to 57.2 in March, from a 57.7 reading in February, the highest since August, 2014. The Labor Department reported that its producer price index, which tallies inflation, fell 0.1 percent in March, the first decline since August. Producer prices were up 2.3 percent from a year ago, the biggest annual bump in five years.
“The market is kind of on hold until we start getting earnings reports and you start to read the body language on what managements are saying,” said Thomas Martin, portfolio manager at GLOBALT Investments. “We’re getting this slow churning really until we start getting some information.”
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
| NASD | AAON | AAON, Inc. | 33.95 | 36.20 | -2.25 | -6.22% | 37.10 | 25.33 | 52630 | 1786788.5 |
| NYSE | ABB | ABB Ltd. | 22.63 | 23.00 | -0.37 | -1.61% | 23.90 | 18.72 | 2140000 | 48428200 |
| NYSE | AOS | AO Smith Corp. | 49.56 | 51.82 | -2.26 | -4.36% | 52.56 | 37.74 | 147270 | 7298701.2 |
| NYSE | FIX | Comfort Systems USA, Inc. | 34.95 | 36.20 | -1.25 | -3.45% | 39.67 | 26.05 | 37120 | 1297344 |
| NYSE | DOV | Dover Corp. | 78.52 | 79.33 | -0.81 | -1.02% | 82.56 | 62.89 | 155590 | 12216926.8 |
| NASD | ELON | Echelon Corp. | 5.98 | 5.92 | 0.06 | 1.01% | 6.42 | 4.17 | 4430 | 26491.4 |
| NYSE | DD | E. I. DuPont de Nemours & Co. | 77.44 | 81.49 | -4.05 | -4.97% | 82.37 | 61.12 | 864570 | 66952300.8 |
| NYSE | EME | EMCOR Group, Inc. | 60.39 | 63.92 | -3.53 | -5.52% | 73.44 | 44.27 | 59660 | 3602867.4 |
| NYSE | EMR | Emerson Electric Co. | 57.87 | 60.27 | -2.40 | -3.98% | 64.36 | 48.45 | 645070 | 37330200.9 |
| NYSE | FCAU | Fiat Chrysler | 9.70 | 11.32 | -1.62 | -14.31% | 11.63 | 5.45 | 1530000 | 14841000 |
| NYSE | F | Ford Motor Co. | 11.11 | 12.65 | -1.54 | -12.17% | 14.22 | 11.07 | 3910000 | 43440100 |
| NYSE | GM | General Motors Co. | 33.39 | 37.09 | -3.70 | -9.98% | 35.88 | 27.34 | 1510000 | 50418900 |
| NYSE | HON | Honeywell International, Inc. | 122.50 | 126.97 | -4.47 | -3.52% | 127.52 | 105.25 | 760720 | 93188200 |
| NASD | HDSN | Hudson Technologies, Inc. | 6.51 | 6.84 | -0.33 | -4.82% | 8.50 | 3.09 | 41520 | 270295.2 |
| NYSE | IR | Ingersoll-Rand Plc | 81.86 | 80.81 | 1.05 | 1.30% | 83.99 | 59.10 | 259510 | 21243488.6 |
| NYSE | JCI | Johnson Controls, Inc. | 40.60 | 41.93 | -1.33 | -3.17% | 48.97 | 36.29 | 938710 | 38111626 |
| NYSE | LII | Lennox International Inc. | 165.23 | 171.66 | -6.43 | -3.75% | 172.96 | 131.90 | 42430 | 7010708.9 |
| NYSE | LXU | LSB Industries, Inc. | 7.53 | 9.83 | -2.30 | -23.40% | 15.50 | 4.52 | 28410 | 213927.3 |
| NYSE | MTW | Manitowoc Co., Inc. | 5.53 | 5.90 | -0.37 | -6.27% | 7.57 | 3.65 | 140480 | 776854.4 |
| NYSE | MLI | Mueller Industries, Inc. | 32.21 | 33.49 | -1.28 | -3.82% | 43.96 | 29.51 | 57600 | 1855296 |
| NYSE | NWL | Newell Rubbermaid, Inc. | 46.02 | 48.96 | -2.94 | -6.00% | 55.45 | 43.20 | 482400 | 22200048 |
| OTC | NSANY | Nissan Motor Co. Ltd. | 18.43 | 20.13 | -1.70 | -8.45% | 20.76 | 17.53 | 3910000 | 72061300 |
| NASD | OFLX | OmegaFlex, Inc. | 47.03 | 42.76 | 4.27 | 9.99% | 64.91 | 31.53 | 10090 | 474532.7 |
| NYSE | PH | Parker-Hannifin Corp. | 153.59 | 159.58 | -5.99 | -3.75% | 163.14 | 99.10 | 133290 | 20472011.1 |
| NYSE | RBC | Regal-Beloit Corp. | 74.05 | 76.00 | -1.95 | -2.57% | 77.80 | 51.57 | 44810 | 3318180.5 |
| NYSE | ROK | Rockwell Automation | 148.43 | 156.47 | -8.04 | -5.14% | 159.78 | 107.17 | 128600 | 19088098 |
| OTC | SIEGY | Siemens Aktiengesellschaft | 67.00 | 66.36 | 0.64 | 0.96% | 68.76 | 47.72 | 1620000 | 108540000 |
| NYSE | SPXC | SPX Corp. | 22.20 | 24.77 | -2.57 | -10.38% | 28.13 | 14.00 | 42790 | 949938 |
| NYSE | TXN | Texas Instruments | 77.84 | 81.82 | -3.98 | -4.86% | 82.44 | 56.19 | 999640 | 77811977.6 |
| NYSE | UTX | United Technologies Corp. | 112.09 | 113.08 | -0.99 | -0.88% | 114.44 | 96.89 | 801690 | 89861432.1 |
| NYSE | WSO | Watsco, Inc. | 135.45 | 147.69 | -12.24 | -8.29% | 159.55 | 127.66 | 27460 | 3719457 |
|
|
Price 4/13/17 |
Price 3/15/17 |
Net Change |
Percent Change |
| HVACR Business Stock Index | 1,403.71 | 1,467.27 | -63.56 | -4.33% |
| Dow Jones Industrial Average | 20,453.25 | 20,950.10 | -496.85 | -2.37% |
| S&P 500 Index | 2,328.95 | 2,385.26 | -56.31 | -2.36% |
| NASDAQ Composite | 5,805.15 | 5,900.05 | -94.90 | -1.61% |
Gainers/Losers |
||||
| $ Gainer | OmegaFlex, Inc. | 4.27 | ||
| $ Loser | Watsco, Inc. | -12.24 | ||
| % Gainer | OmegaFlex, Inc. | 9.99% | ||
| % Loser | LSB Industries, Inc. | -23.40% | ||
| Advancers | 4 | |||
| Decliners | 27 | |||
The HVACR Business Stock Index fell 63.56 points, or 4.33 percent, and closed at 1403.71. Declining issues handily dominated advancing issues by a 27-to-4 count.
Despite an upgrade, LSB Industries slid 2.30 points, or 23.40 percent. Zacks Investment Research upgraded LXU to “buy” from “hold;” their price target is $12. LXU ended at 7.53, and was the top percentage loser.
OmegaFlex was the top dollar and percentage gainer this session, though there was little news to report. The stock had several spikes in volume during our session. Its average daily volume is roughly 5,400, but two days in March, the stock spiked at volumes more than 21,000. On April 3-5, OFLX posted daily volumes of about 16,400, 18,600 and 11,600, respectively.
OmegaFlex jumped 4.27 points, or 9.99 percent, and ended at 47.03.
Shares of Watsco tumbled 12.24 points, or 8.29 percent. WSO has an average rating of “hold” from the 12 brokerages covering the stock; its average price target is $146.44. Watsco ended at 135.45, and was the top dollar loser.