Market Turbulence Dominates Session
The HVACR Business Stock Index lost 90.83 points, or 6.38 percent, and ended at 1332.91, its lowest close in over two years. Declining issues dominated advancing issues by a 9-to-1 margin.
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Wild Volatility Mellows into Upswing
Originally published: 12.01.14 by Margot Crabtree
Investors who survived the wild ride of October were rewarded with steady improvement in the first half of November.
As our trading session ended Nov. 14, 2014, the Dow industrials and the S&P 500 edged into new territory, with the S&P up 10 percent for the year.
The Commerce Department reported that September sales of new single-family homes increased 0.2 percent, to a seasonally adjusted annual rate of 467,000 units, the highest since July 2008. An unexpected move by the Bank of Japan (BoJ) to increase its stimulus program sent an impulsive market to new highs.
The University of Michigan's consumer sentiment index improved to a level not seen since July 2007 as it moved to 86.9, from 84.6. A report from the Labor Department said that employers in the U.S. created 214,000 jobs in October, pushing unemployment down to 5.8 percent, the lowest level since 2008.
Retail sales moved ahead 0.3 percent in October, and the Commerce Department cited a drop-off in gasoline prices as well as stronger job gains.
Homebuilders got a boost after D.R. Horton posted stronger quarterly revenue than expected, with orders up 38 percent, hinting at increased demand. High-end homebuilder Toll Brothers said revenue was up 29 percent in
"We're making new highs, volatility is low and that suggests investors are complacent enough to buy stocks at those highs," said John Kosar, director of research with Asbury Research in Chicago. "Interest rates are still low, oil prices are low and everything looks conducive to more strength between now and the end of the year."
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
| NASD | AAON | AAON, Inc. | 20.96 | 18.13 | 2.83 | 15.61% | 23.09 | 16.78 | 54470 | 1141691.2 |
| NYSE | ABB | ABB Ltd. | 22.07 | 20.47 | 1.60 | 7.82% | 27.25 | 19.92 | 2280000 | 50319600 |
| NYSE | ARG | Airgas, Inc. | 114.28 | 106.11 | 8.17 | 7.70% | 115.14 | 99.32 | 74700 | 8536716 |
| NYSE | AOS | AO Smith Corp. | 53.17 | 46.24 | 6.93 | 14.99% | 55.18 | 44.14 | 89540 | 4760841.8 |
| NYSE | FIX | Comfort Systems USA, Inc. | 14.90 | 13.74 | 1.16 | 8.44% | 20.95 | 12.63 | 37640 | 560836 |
| NYSE | DOV | Dover Corp. | 80.21 | 72.06 | 8.15 | 11.31% | 91.84 | 67.78 | 165360 | 13263525.6 |
| NASD | ELON | Echelon Corp. | 1.91 | 1.82 | 0.09 | 4.95% | 4.18 | 1.77 | 43510 | 83104.1 |
| NYSE | DD | E. I. DuPont de Nemours & Co. | 70.80 | 66.43 | 4.37 | 6.58% | 72.92 | 59.35 | 905950 | 64141260 |
| NYSE | EME | EMCOR Group, Inc. | 44.74 | 42.00 | 2.74 | 6.52% | 48.00 | 37.48 | 64750 | 2896915 |
| NYSE | EMR | Emerson Electric Co. | 63.62 | 59.35 | 4.27 | 7.19% | 70.66 | 57.76 | 699600 | 44508552 |
| NYSE | FCAU | Fiat Chrysler | 12.40 | 8.76 | 3.64 | 41.55% | 12.50 | 7.20 | 1170000 | 14508000 |
| NYSE | F | Ford Motor Co. | 15.14 | 13.62 | 1.52 | 11.16% | 18.12 | 13.26 | 3850000 | 58289000 |
| NYSE | GM | General Motors Co. | 31.65 | 29.69 | 1.96 | 6.60% | 41.85 | 28.82 | 1610000 | 50956500 |
| NYSE | HON | Honeywell International, Inc. | 96.79 | 85.11 | 11.68 | 13.72% | 98.09 | 82.89 | 782810 | 75768179.9 |
| NASD | HDSN | Hudson Technologies, Inc. | 3.79 | 3.02 | 0.77 | 25.50% | 4.80 | 2.11 | 32030 | 121393.7 |
| NYSE | IR | Ingersoll-Rand Plc | 62.59 | 53.94 | 8.65 | 16.04% | 64.77 | 52.47 | 265470 | 16615767.3 |
| NYSE | JCI | Johnson Controls, Inc. | 49.41 | 39.90 | 9.51 | 23.83% | 52.50 | 38.60 | 665500 | 32882355 |
| NYSE | LII | Lennox International Inc. | 91.92 | 74.99 | 16.93 | 22.58% | 94.69 | 72.61 | 48040 | 4415836.8 |
| NYSE | LXU | LSB Industries, Inc. | 32.98 | 34.73 | -1.75 | -5.04% | 42.41 | 29.39 | 22610 | 745677.8 |
| NYSE | MTW | Manitowoc Co., Inc. | 20.72 | 17.33 | 3.39 | 19.56% | 33.50 | 16.24 | 135520 | 2807974.4 |
| NYSE | NWL | Newell Rubbermaid, Inc. | 34.83 | 31.92 | 2.91 | 9.12% | 35.43 | 28.27 | 271100 | 9442413 |
| NYSE | MLI | Mueller Industries, Inc. | 32.46 | 28.45 | 4.01 | 14.09% | 32.96 | 27.10 | 56890 | 1846649.4 |
| OTC | NSANY | Nissan Motor Co. Ltd. | 18.58 | 17.75 | 0.83 | 4.68% | 20.27 | 16.45 | 2100000 | 39018000 |
| NASD | OFLX | OmegaFlex, Inc. | 29.77 | 20.15 | 9.62 | 47.74% | 30.48 | 15.93 | 10090 | 300379.3 |
| NYSE | PH | Parker-Hannifin Corp. | 128.44 | 102.96 | 25.48 | 24.75% | 130.44 | 99.82 | 148640 | 19091321.6 |
| NYSE | RBC | Regal-Beloit Corp. | 71.12 | 63.66 | 7.46 | 11.72% | 80.41 | 62.15 | 44690 | 3178352.8 |
| NYSE | ROK | Rockwell Automation | 110.12 | 100.78 | 9.34 | 9.27% | 128.57 | 98.55 | 137870 | 15182244.4 |
| OTC | SIEGY | Siemens Aktiengesellschaft | 110.83 | 106.38 | 4.45 | 4.18% | 139.28 | 103.20 | 838790 | 92963095.7 |
| NYSE | SPW | SPX Corp. | 91.93 | 84.26 | 7.67 | 9.10% | 111.47 | 80.50 | 41070 | 3775565.1 |
| NYSE | TXN | Texas Instruments | 51.63 | 42.76 | 8.87 | 20.74% | 51.80 | 40.33 | 1060000 | 54727800 |
| NYSE | UTX | United Technologies Corp. | 107.45 | 99.17 | 8.28 | 8.35% | 120.66 | 97.30 | 911660 | 97957867 |
| NYSE | WSO | Watsco, Inc. | 101.50 | 89.41 | 12.09 | 13.52% | 105.39 | 84.28 | 32300 | 3278450 |
The HVACR Business Stock Index leapt 115.38 points, or 10.14 percent, to end at 1253.12. Advancing issues almost shut out declining issues by a 31-to-1 count.
Parker-Hannifin jumped 25.48 points, or 24.75 percent, and was the top dollar gainer this month. PH reported fiscal 2015 first quarter income of $280.1 million, or $1.85 per share, a 15 percent increase from net income of $244.3 million, or $1.61 per share in the same quarter a year ago. Excluding one-time items, PH earned $1.89 per share. Revenue was off, at $3.27 billion. Analysts polled by Zacks expected earnings of $1.66 per share and revenue of $3.3 billion. PH closed at 128.44.
LSB Industries slipped 1.75 points, or 5.04 percent. LXU swung to a loss for its third quarter, and sales declined. LXU posted a net loss of $3.8 million, or $0.17 per share, versus net income of $10.3 million, or $0.43 per share. Sales came in at $171 million, compared to last year's $177.4 million.
TheStreet Ratings cut LSB Industries to "hold" from "buy." LXU closed at 32.98, and was the top dollar and percentage loser.
Omega Flex rose 9.62 points, or 47.74 percent, and closed at 29.77. OFLX posted net income of $4 million, or $0.40 per share, a 19.3 percent improvement versus net income of $2.7 million, or $0.27 per share in the comparable year-ago quarter.
Sales for the quarter increased 49 percent, to $23.8 million, compared to last year's $19.99 million. Omega Flex was the top percentage gainer.
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.
About Margot Crabtree
Margot 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 tradetrendsonline.com.
Articles by Margot Crabtree
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