HVACR Business Index Turns Positive
Originally published: 09.18.17 by Margot Crabtree
Despite on-going threats from North Korea and battering from hurricanes, Wall Street remained upbeat as our trading session ended Sept. 15, 2017.
Stocks began our session wobbling on political concerns, but took heart from second quarter earnings which closed much stronger than analysts expected. The Commerce Department reported that July orders for durable goods fell 6.8 percent, from a sharp gain the month before.
The Conference Board reported that consumer confidence rose to the highest point in more than 16 years, up to 122.9 in August, from 120 in July. The Commerce Department reported that factory orders fell 3.3 percent in July.
As markets swung into the Labor Day holiday, Secretary Mnuchin said that the President plans to implement a plan on tax reform by year’s end. Weather took center stage, but its influence on markets was short-lived, causing a spike in unemployment benefits.
As our session came to a close, the Dow industrials notched record highs and the S&P 500 closed above 2,500 for the first time, even though data was also largely disappointing. Hurricane Harvey damaged industrial output in the U.S., which dropped 0.9 percent in August, the largest decline in eight years, as the weather curtailed output in chemicals, plastics and oil refining.
The Labor Department reported that claims for unemployment benefits fell 14,000 following a surge the previous week. In a separate report, the department reported that consumer prices rose 0.4 percent in August as housing and gas increased, following a smaller gain in July.
Economists polled by Reuters expected the Consumer Price Index to increase by 0.3 percent in August. Prices are up 1.9 percent from a year ago.
“People are concerned about missing out as the market continues to rally,” said Phil Blancato, head of Ladenburg Thalmann Asset Management. “They think maybe they need to finally jump in. The behavior of the retail investor is more important than ever.”
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
| NASD | AAON | AAON, Inc. | 32.95 | 32.73 | 0.22 | 0.67% | 38.20 | 27.25 | 52600 | 1733170 |
| NYSE | ABB | ABB Ltd. | 24.43 | 22.85 | 1.58 | 6.91% | 25.83 | 20.26 | 2130000 | 52035900 |
| NYSE | AOS | AO Smith Corp. | 58.22 | 54.34 | 3.88 | 7.14% | 58.27 | 43.66 | 146420 | 8524572.4 |
| NYSE | FIX | Comfort Systems USA, Inc. | 34.60 | 32.60 | 2.00 | 6.13% | 39.67 | 26.65 | 37120 | 1284352 |
| NYSE | DOV | Dover Corp. | 89.81 | 85.13 | 4.68 | 5.50% | 90.35 | 65.50 | 155730 | 13986111.3 |
| NASD | ELON | Echelon Corp. | 4.69 | 4.88 | -0.19 | -3.89% | 5.65 | 4.17 | 4450 | 20870.5 |
| NYSE | DWDP | DowDuPont | 69.86 | 63.41 | 6.45 | 10.17% | 70.70 | 51.60 | 2340000 | 163472400 |
| NYSE | EME | EMCOR Group, Inc. | 68.00 | 65.37 | 2.63 | 4.02% | 73.44 | 55.10 | 59180 | 4024240 |
| NYSE | EMR | Emerson Electric Co. | 62.35 | 59.41 | 2.94 | 4.95% | 64.36 | 49.22 | 640020 | 39905247 |
| NYSE | FCAU | Fiat Chrysler | 16.66 | 12.67 | 3.99 | 31.49% | 16.77 | 6.05 | 1540000 | 25656400 |
| NYSE | F | Ford Motor Co. | 11.62 | 10.84 | 0.78 | 7.20% | 13.27 | 10.47 | 3900000 | 45318000 |
| NYSE | GM | General Motors Co. | 38.88 | 35.54 | 3.34 | 9.40% | 39.18 | 30.21 | 1450000 | 56376000 |
| NYSE | HON | Honeywell International, Inc. | 138.95 | 137.42 | 1.53 | 1.11% | 140.21 | 105.25 | 760570 | 105681201.5 |
| NASD | HDSN | Hudson Technologies, Inc. | 9.16 | 8.73 | 0.43 | 4.93% | 10.40 | 5.55 | 41640 | 381422.4 |
| NYSE | IR | Ingersoll-Rand Plc | 89.44 | 86.20 | 3.24 | 3.76% | 94.39 | 62.97 | 253670 | 22688244.8 |
| NYSE | JCI | Johnson Controls, Inc. | 39.81 | 37.83 | 1.98 | 5.23% | 46.86 | 36.74 | 932400 | 37118844 |
| NYSE | LII | Lennox International Inc. | 167.53 | 167.92 | -0.39 | -0.23% | 192.58 | 140.97 | 42180 | 7066415.4 |
| NYSE | LXU | LSB Industries, Inc. | 6.99 | 6.38 | 0.61 | 9.56% | 11.71 | 4.52 | 28410 | 198585.9 |
| NYSE | MTW | Manitowoc Co., Inc. | 7.79 | 7.96 | -0.17 | -2.14% | 8.43 | 3.65 | 140610 | 1095351.9 |
| NYSE | MLI | Mueller Industries, Inc. | 32.25 | 29.38 | 2.87 | 9.77% | 43.96 | 27.72 | 57630 | 1858567.5 |
| NYSE | NWL | Newell Rubbermaid, Inc. | 43.20 | 50.21 | -7.01 | -13.96% | 55.08 | 42.81 | 490100 | 21172320 |
| OTC | NSANY | Nissan Motor Co. Ltd. | 20.55 | 19.97 | 0.58 | 2.90% | 20.76 | 18.06 | 3910000 | 80350500 |
| NASD | OFLX | OmegaFlex, Inc. | 66.14 | 58.87 | 7.27 | 12.35% | 70.80 | 34.62 | 10090 | 667352.6 |
| NYSE | PH | Parker-Hannifin Corp. | 169.69 | 158.19 | 11.50 | 7.27% | 170.67 | 118.77 | 133130 | 22590829.7 |
| NYSE | RBC | Regal-Beloit Corp. | 77.05 | 78.55 | -1.50 | -1.91% | 87.50 | 56.45 | 44600 | 3436430 |
| NYSE | ROK | Rockwell Automation | 173.73 | 164.12 | 9.61 | 5.86% | 174.18 | 113.27 | 128360 | 22299982.8 |
| OTC | SIEGY | Siemens Aktiengesellschaft | 69.72 | 64.66 | 5.06 | 7.83% | 73.42 | 55.72 | 812830 | 56670507.6 |
| NYSE | SPXC | SPX Corp. | 26.32 | 25.30 | 1.02 | 4.03% | 29.25 | 15.49 | 42520 | 1119126.4 |
| NYSE | TXN | Texas Instruments | 84.84 | 81.96 | 2.88 | 3.51% | 85.03 | 66.80 | 990040 | 83994993.6 |
| NYSE | UTX | United Technologies Corp. | 113.08 | 115.96 | -2.88 | -2.48% | 124.79 | 97.62 | 798770 | 90324911.6 |
| NYSE | WSO | Watsco, Inc. | 155.00 | 147.85 | 7.15 | 4.84% | 159.55 | 128.60 | 27480 | 4259400 |
|
|
Price 9/15/17 |
Price 8/15/17 |
Net Change |
Percent Change |
| HVACR Business Stock Index | 1,516.98 | 1,460.45 | 56.53 | 3.87% |
| Dow Jones Industrial Average | 22,268.34 | 21,998.99 | 269.35 | 1.22% |
| S&P 500 Index | 2,500.23 | 2,464.61 | 35.62 | 1.45% |
| NASDAQ Composite | 6,448.47 | 6,333.01 | 115.46 | 1.82% |
Gainers/Losers |
||||
| $ Gainer | Parker-Hannifin Corp. | 11.50 | ||
| $ Loser | Newell Rubbermaid, Inc. | -7.01 | ||
| % Gainer | Fiat Chrysler | 31.49% | ||
| % Loser | Newell Rubbermaid, Inc. | -13.96% | ||
| Advancers | 25 | |||
| Decliners | 6 | |||
The HVACR Business Stock Index rose 56.53 points, or 3.87 percent, and closed at 1516.98. Advancing issues dominated declining issues at a 25-to-6 count.
Parker-Hannifin was our top dollar gainer. PH unit Parker Aerospace announced that it is collaborating with Oxsensis, Ltd to develop an aerospace sensor that will enhance engine performance. PH jumped 11.50 points, or 11.27 percent, and closed at 169.69.
Newell Brands tumbled 7.01 points, or 13.96 percent and closed at 43.20. NWL revised its earnings outlook, citing cost inflation, higher investment spending, and the impact of Hurricane Harvey. Resin supply, which is part of many Newell products, is produced in Texas and Louisiana; production has been shut down due to the weather. Jefferies cut its rating to “hold” from “buy.” Newell was the top dollar and percentage loser.
FiatChrysler rose 3.99 points, or 31.49 percent as rumors persisted about possible deals. The company will separate its car parts business but said other transactions are not in the works.
Research firms Jefferies and Goldman Sachs reiterated their “buy” ratings, and upped their price targets. Bank of America/Merrill upgraded FCAU to “neutral” from “underperform.” Barclays upgraded the stock to “overweight” from “equal weight.” FCAU ended at 16.66, and was the top percentage gainer.