After Market: A Few Losers Hold Back the Dow in a Mixed Day on Wall Street

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The Dow took a well-deserved breather Wednesday after posting triple-digit gains in three of the four previous sessions. The Dow Jones industrial average (^DJI) fell 30 points, snapping a four-day winning streak. The Standard & Poor's 500 index (^GPSC) ended fractionally lower, while the Nasdaq composite (^IXIC) rose 10 points.

The Dow was held in check by Procter & Gamble (PG), which fell 1.7 percent. It lowered its outlook for this year citing the currency fluctuations in many emerging markets. Amazon (AMZN) was also a big loser, dropping 3.5 percent. It plans to hire another 2,500 full time workers, and some investors are frustrated by the company's constantly rising costs. In addition, UBS (UBS) lowered its rating on Amazon to "neutral."

Also falling on earnings news disappointments:
  • Lorillard (LO), which makes Newport cigarettes and a leading brand of e-cigarettes, fell 5 percent.
  • Wellcare (WCG) lost 9 percent. Net fell and the company issued a forecast well below Street expectations.
  • And FireEye (FEYE) fell 10 percent. The company, which provides security against cyber attacks, also issued a disappointing outlook. But even after Wednesday's loss, the stock has nearly doubled in value over the past year.
On the upside:
  • Owens Corning (OC), which makes roofing and insulation products, gained 8.5 percent after beating expectations. It also declared a dividend for the first time 14 years.
  • Online travel company TripAdvisor (TRIP) rose 10 percent on a big jump in revenue.
  • Packaging Corp. (PKG) gained 10 percent
  • And Dr. Pepper Snapple (DPS) added 2 percent.
Elsewhere, Delta Air Lines (DAL) and most other airline stocks edged lower as the storm moving from the South up through the Northeast forced thousands of flight cancelations.

Seattle Genetics (SGEN) jumped 11 percent. Its loss wasn't as steep as expected and it provided upbeat news on two drugs in its pipeline.

But Ventrus Biosciences (VTUS) lost more than half of its value after reporting a key product didn't beat a placebo in its clinical trial.

What to Watch Thursday:
  • At 8:30 a.m. Eastern time, the Labor Department releases weekly jobless claims, and the Commerce Department reports January retail sales.
  • The Commerce Department releases business inventories for December at 10 a.m.
  • Federal Reserve Chair Janet Yellen testifies before Senate Banking Committee in Washington at 10:30 a.m.
These major companies are scheduled to release quarterly financial results:
  • American International Group (AIG)
  • Avon Products (AVP)
  • Bankrate.com (RATE)
  • Bunge (BG)
  • Burger King Worldwide (BKW)
  • Diebold (DBD)
  • Goodyear Tire & Rubber (GT)
  • Kraft Foods Group (KRFT)
  • Jarden (JAH)
  • Louisiana Pacific (LPX)
  • Molson Coors (TAP)
  • Penske Auto Group (PAG)
  • PepsiCo (PEP)
  • Regal Entertainment Group (RGC)
  • Starwood Hotels (HOT)
  • Trulia (TRLA)
  • Weight Watchers (WTW)
-Produced by Drew Trachtenberg.


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toosmart4u

Good job President Obama cleaning up the mess of the bush jr. administration.

February 13 2014 at 5:17 AM Report abuse rate up rate down Reply
alfredschrader

It also says on here that Paula Dean found a new private equity firm to finance her come back.
I love Paula Dean.

I get tired of eating the same thing so I constantly experiment. Sometimes it's a flop and other times it's amazing. Case in point split pea stew, not soup, stew with big hunks of meat and big bite size vegetables.
I made a pot of sloppy Joe meat but instead of serving it on buns, I served it over spaghetti.
Each mouthful is jam packed with Beef and a smokey complexity of flavor. It's incredible.
Somebody stop me !!!

February 12 2014 at 7:28 PM Report abuse rate up rate down Reply