After Market: Late Rally Saves Investors from a Down Day

×


Stocks drifted mainly lower throughout the day, but in the last hour of trading Friday, the Dow and the S&P 500 staged a turnaround, and all three major indices ended in the green.

At market close, the Dow Jones industrial average (^DJI) gained 5 points, the Nasdaq composite (^IXIC) picked up 18 points, and the Standard & Poor's 500 index (^GPSC) edged higher by 3 points.

DuPont (DD) was a drag on the Dow though, falling more than 2 percent after lowering its outlook for the second quarter and full year. The chemicals giant reported weakness in its agricultural division and chemicals line.

Dollar General (DG) also dropped falling 4.5 percent after lowering its full-year profit guidance. The company also announced its CEO would retire in May 2015. That could disrupt activist investor Carl Icahn's proposal for Dollar General to merge with Family Dollar Store (FDO), the stock of which lost 1 percent on the day. Both discount retailers have been struggling against competition from Walmart (WMT).

On the upside, GoPro (GPRO), a favorite among sporting enthusiasts, had another stellar day. After rising 30 percent on its first day of trading yesterday, the stock gained another 4.5 percent on Friday.

And Nike (NKE), which is clothing 10 World Cup teams, also had a win on Friday rising almost 1 percent after earnings topped expectations. Revenue grew in all of its main markets.

Another sporting goods company Finish Line (FINL) also impressed on earnings and the stock rose half a percent.

Tripadvisor's (TRIP) price target was raised by Bank of America and the stock rose more than 2 percent.

Keurig Green Mountain (GMCR) also gained more than 4.5 percent on an upgrade from Argus Research.

Intuitive Surgical (ISRG), which makes robotics for surgery, rallied 12.5 percent after it got the green light to market its da Vinci Xi in Europe and other countries that demand CE Marking.

Western Union (WU) gained slightly after announcing it has expanded its scope in Saudi Arabia.

And finally, arts and crafts retailer The Michaels Companies (MIK) started trading on the NASDAQ Friday and but its shares barely budged.

-Produced by Karina Huber.

What to Watch Monday:
  • The Institute For Supply Management-Chicago release its survey of business conditions in the region for June at 9:45 a.m. Eastern time.
  • The National Association of Realtors releases pending home sales index for May at 10 a.m.
  • The Federal Reserve Bank of Dallas releases its manufacturing survey for June at 10:30 a.m.

Increase your money and finance knowledge from home

Basics Of The Stock Market

Stock Market 101 - everything you need to know but were afraid to ask!

View Course »

Income Investing

Grow your nest-egg.

View Course »

Add a Comment

*0 / 3000 Character Maximum

16 Comments

Filter by:
kolblh

Not everything that counts can be counted, and not everything that can be counted counts.

June 30 2014 at 4:45 PM Report abuse rate up rate down Reply
omerrica.inda.crapper

ovomit is "still obstructing n sabotaging n holding all Americans hostage for the last 5 years now ,we cant wait till his impeachment trial starts n he is removed from our white house in handcuffs in 2014. !!!!!

June 29 2014 at 8:51 AM Report abuse +3 rate up rate down Reply
1 reply to omerrica.inda.crapper's comment
d.barack

He's inviting the rest of his Muslim Brotherhood pals to the USA.

June 29 2014 at 10:42 AM Report abuse +2 rate up rate down Reply
1 reply to d.barack's comment
omerrica.inda.crapper

vote~~> www.teaparty-platform.com <~~ n put a stop to ovomits record unemployment n record foreclosures n record illegal immigrants he is letting "BREAK" into America nonsense for the last 5 plus years now.

June 29 2014 at 12:29 PM Report abuse rate up rate down
mily469

every night before I sleep I say a little prayer, please save investors from even one down day! please do everything in your power it manipulate the system to obscenely profit a small handful of people. thank you!!

June 28 2014 at 10:29 AM Report abuse rate up rate down Reply
1 reply to mily469's comment
dopey.obamite

You need a hobby and someone to love you.

June 28 2014 at 2:40 PM Report abuse rate up rate down Reply
Iselin007

Seems nobody can get good rating on their post. because of $%^&*()(

June 28 2014 at 9:54 AM Report abuse -2 rate up rate down Reply
Iselin007

The money will run away so fast theyll think it had legs.

June 27 2014 at 8:15 PM Report abuse -2 rate up rate down Reply
Iselin007

They knew they couldn't keep stuffin the books like a Turkey.

June 27 2014 at 8:13 PM Report abuse -2 rate up rate down Reply
Iselin007

They can only play the game until it gets so twisted out of shape they lose control.

June 27 2014 at 8:08 PM Report abuse -2 rate up rate down Reply
thefacts22

The whole world is expecting a huge Market correction in USA.There is no way that we can continue growing negative and spending like drunk sailors....Do not buy anything,keep your cash

June 27 2014 at 7:43 PM Report abuse -5 rate up rate down Reply
1 reply to thefacts22's comment
Iselin007

Correction is the selection!

June 27 2014 at 8:06 PM Report abuse -2 rate up rate down Reply
worried man

Time to sell !!!!!!!!!!!!!!!!!!!

June 27 2014 at 6:58 PM Report abuse -4 rate up rate down Reply
1 reply to worried man's comment
Iselin007

Make sure you stock up on toilet paper the correction will just make you sick.

June 27 2014 at 8:11 PM Report abuse -3 rate up rate down Reply
elwood.randall

Thats good but I still feel better staying in safe investments here. Light on the equities, and the ones that I am in are mostly safe large cap dividend paying stocks. I also am putting money in some alternative assets such as:
1. Gold and Silver. I buy the actual hard commodities and keep them in a lock box.
2. Life Insurance. I have a policy from LifeAnt that pays 5% a year in dividends, tax deferred too so the net is even higher.
3. Bitcoins. Like it or not they are here to stay. You can be part of it or not.

Speaking of insurance, I don't get why no one includes life insurance in a dividend discussion ever. I have a policy from Life Ant Insurance that pays me 4-5% per year in dividend payments, and there are a few advantages from my perspective:

1. You can keep them in the policy, they grow tax deferred, and it increases your net compound growth rate.
2. They are backed by insurance companies, which the responsible ones made it through the financial crisis better than some countries debt.
3. You actually also get life insurance protection, so you can protect your family at the same time (and make them rich if you die which hopefully won't happen but at least its protection).

Why it isn't ever mentioned at least seems a bit one sided.

June 27 2014 at 5:14 PM Report abuse -8 rate up rate down Reply
1 reply to elwood.randall's comment
dopey.obamite

We.get it spamwood.....you work for that insurance company.

June 27 2014 at 9:33 PM Report abuse +2 rate up rate down Reply