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Major Markets Positive, HVACR Business Index Slips

Originally published: 1/1/10 by Margot Crabtree


Wall Street was largely positive until the final week as our trading session ended Nov. 15, 2017. Markets began our session with their 5th record weekly close, and the Dow industrials ended above the 23,000 mark for the first time.

The Commerce Department reported that construction spending rose 0.3 percent in September. The National Association of Home Builders/Wells Fargo builder sentiment index increased from September’s 64 to 68 this month, the strongest reading since May.

The Federal Reserve said that industrial production rose 0.3 percent in September, with factory output up 0.1 percent, mining up 0.4 percent and utilities up 1.5 percent. The Labor Department said that worker productivity increased 3 percent in the third quarter, the best increase in three years.

Although weaker than forecast, the Labor Department reported that employers added 261,000 jobs in October, with the unemployment rate down to 4.1 percent, the lowest point in almost 17 years, a bump from post-hurricane activity. The Conference Board said that consumer confidence was up to a 17-year high: 125.9 in October, from a revised 120.6 in September.

It was tax cut prospects, however, that carried the most weight in the markets.

“Most investors knew there was uncertainty about the specific provisions, but


thought that the House and the Senate would at least agree there would be some kind of cut in corporate tax rates in 2018,” said Kate Warne, an investment strategist at Edward Jones.

Exchange
Symbol
Company Name
Price
11/15/17
Price
10/16/17
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 33.90 34.30 -0.40 -1.17% 38.20 29.95 52470 1778733
NYSE ABB ABB Ltd. 25.09 24.97 0.12 0.48% 26.58 20.26 2130000 53441700
NYSE AOS AO Smith Corp. 58.41 61.21 -2.80 -4.57% 62.16 46.44 145820 8517346.2
NYSE FIX Comfort Systems USA, Inc. 40.70 36.80 3.90 10.60% 44.68 31.80 36970 1504679
NYSE DOV Dover Corp. 92.70 94.77 -2.07 -2.18% 97.09 68.10 155790 14441733
NASD ELON Echelon Corp. 4.69 5.00 -0.31 -6.20% 7.20 4.26 4520 21198.8
NYSE DWDP DowDuPont 68.97 70.93 -1.96 -2.76% 73.85 52.72 2340000 161389800
NYSE EME EMCOR Group, Inc. 76.86 70.40 6.46 9.18% 81.77 59.76 58810 4520136.6
NYSE EMR Emerson Electric Co. 59.59 64.44 -4.85 -7.53% 67.79 53.92 640020 38138791.8
NYSE FCAU Fiat Chrysler 17.26 17.67 -0.41 -2.32% 18.33 7.30 1540000 26580400
NYSE F Ford Motor Co. 12.00 12.12 -0.12 -0.99% 13.27 10.47 3900000 46800000
NYSE GM General Motors Co. 42.86 45.76 -2.90 -6.34% 46.76 31.92 1420000 60861200
NYSE HON Honeywell International, Inc. 146.37 143.75 2.62 1.82% 147.60 111.78 761820 111507593.4
NASD HDSN Hudson Technologies, Inc. 5.85 6.21 -0.36 -5.80% 10.40 5.70 42040 245934
NYSE IR Ingersoll-Rand Plc 83.36 91.30 -7.94 -8.70% 96.23 74.02 249870 20829163.2
NYSE JCI Johnson Controls, Inc. 35.73 41.75 -6.02 -14.42% 46.17 34.51 928000 33157440
NYSE LII Lennox International Inc. 191.32 181.09 10.23 5.65% 201.40 146.25 41770 7991436.4
NYSE LXU LSB Industries, Inc. 7.52 7.54 -0.02 -0.27% 11.71 5.55 28410 213643.2
NYSE MTW Manitowoc Co., Inc. 9.35 9.22 0.13 1.41% 10.53 4.82 140720 1315732
NYSE MLI Mueller Industries, Inc. 32.91 34.84 -1.93 -5.54% 43.96 27.72 57810 1902527.1
NYSE NWL Newell Brands, Inc. 28.01 42.75 -14.74 -34.48% 55.08 27.45 490100 13727701
OTC NSANY Nissan Motor Co. Ltd. 18.97 19.31 -0.34 -1.76% 20.91 18.18 3910000 74172700
NASD OFLX OmegaFlex, Inc. 64.37 62.13 2.24 3.61% 74.55 40.41 10090 649493.3
NYSE PH Parker-Hannifin Corp. 179.73 181.41 -1.68 -0.93% 189.83 134.03 133230 23945427.9
NYSE RBC Regal-Beloit Corp. 73.80 79.60 -5.80 -7.29% 87.50 68.00 44300 3269340
NYSE ROK Rockwell Automation 188.73 186.41 2.32 1.24% 210.72 129.66 128360 24225382.8
OTC SIEGY Siemens Aktiengesellschaft  67.61 70.33 -2.72 -3.87% 73.42 55.74 812830 54955436.3
NYSE SPXC SPX Corp.  29.43 29.63 -0.20 -0.67% 32.71 21.97 42610 1254012.3
NYSE TXN Texas Instruments 96.77 94.23 2.54 2.70% 99.05 69.92 985560 95372641.2
NYSE UTX United Technologies Corp. 117.57 119.01 -1.44 -1.21% 124.79 106.21 798570 93887874.9
NYSE WSO Watsco, Inc. 164.19 159.46 4.73 2.97% 167.94 134.08 27610 4533285.9

 

 
Price 11/15/17
Price 10/16/17
Net Change
Percent Change
HVACR Business Stock Index 1,532.28 1,578.76 -46.48 -2.94%
Dow Jones Industrial Average 23,271.28 22,956.96 314.32 1.37%
S&P 500 Index 2,564.62 2,557.64 6.98 0.27%
NASDAQ Composite 6,706.21 6,624.00 82.21 1.24%

 

Gainers/Losers
$ Gainer Lennox International Inc. 10.23
$ Loser Newell Brands, Inc. -14.74
 
% Gainer Comfort Systems USA, Inc. 10.60%
% Loser Newell Brands, Inc. -34.48%
 
Advancers 10
Decliners 21

The HVACR Business Index fell 46.48 points, or 2.94 percent, closing at 1532.28. Declining issues battered advancing issues by a better than 2-to-1 margin.

Newell Brands fell short of Wall Street estimates for its third quarter, and shares tumbled 14.74 points, or 34.48 percent following a slew of downgrades. NWL posted net income of $234.4 million, or $0.48 per share. Adjusted for one-time items, Newell earned $0.86 per share. Revenue was $3.68 billion.

Analysts surveyed by Zacks expected earnings of $0.92 per share and revenue of $3.70 billion. Newell was downgraded by RBC Capital Markets (to “outperform” from “top pick), Raymond James (to “market perform” from “strong buy”) and JPMorgan (to “neutral” from “overweight”). Newell ended at 28.01, and was the top dollar and percentage loser.

Lennox soared after beating estimates for third quarter. LII said it earned net income of $103.5 million, or $2.44 per share. Adjusted for one-time items, Lennox earned $2.53 per share. Revenue was $1.05 billion.

Analysts polled by Zacks expected earnings of $2.44 per share and revenue of $1.03 billion. Investment firm retained its “hold” rating on LII, but upped its price target to $192, from $187. Lennox jumped 10.23 points, or 5.65 per share, and was the top dollar gainer. LII ended at 191.32.

Ingersoll-Rand beat earnings for its third quarter, but missed on revenue, and shares dropped 7.94 points, or 8.70 percent. IR posted net income of $367 million, or $1.43 per share. Adjusted for one-time items, Ingersoll-Rand earned $1.44 per share. Revenue was $3.67 billion.

Analysts polled by Zacks Investment Research expected earnings of $1.44 per share and revenue of $3.71 billion. IR received a mix of downgrades and ratings restatements, and closed at 83.36.

 

 




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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