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Stock Index Recovers from Last Month’s Swoon

Originally published: 11.16.18 by Margot Crabtree


Our month began in turbulence with the start of earnings season and closed as stocks see-sawed with a plunge in oil as our trading session ended mixed Nov. 15, 2018. Markets closed mixed as The HVACR Business Index and the S&P 500 ended in negative terrain.

The National Association of Realtors said that home sales in September dropped for the sixth consecutive month, down 3.4 percent, the largest decline in two and a half years, and the lowest rate since November 2015. The Commerce Department said that construction spending was flat in September.

The Labor Department said that employers posted the most jobs in twenty years in August, and job openings rose to 7.14 million, the highest number on records dated to December 2000; in October, filled jobs were at the highest level since January 2009. The Commerce Department also said that consumer spending was up 0.1 percent in September, the weakest two-month showing since January, and below the increase of 0.6 percent expected by economists.

The Commerce Department said that the U.S. economy increased at 3.5 percent in the third quarter. The Conference Board said that consumer confidence rose again in October, to 137.9, from 135.3 in September. Although another interest


rate hike is expected in December, the central bankers said that robust job increases and consumer spending were keeping the economy stable, but business investment slowed, possibly creating economic roadblocks down the line.

“We’re going back and forth between days when investors are taking risk-off and days when they’re taking risk back on,” said Jason Pride, chief investment officer of private clients at Glenmede. “We’re probably going to go through a period of this basically because it’s hard for investors to figure out where we are at this stage of the economic cycle.”

Exchange
Symbol
Company Name
Price
11/15/18
Price
10/15/18
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 40.96 32.25 8.71 27.01% 44.90 29.05 52090 2133606.4
NYSE ABB ABB Ltd. 19.95 21.09 -1.14 -5.41% 28.67 19.08 2130000 42493500
NYSE AOS AO Smith Corp. 46.25 47.56 -1.31 -2.75% 68.39 40.34 143890 6654912.5
NYSE FIX Comfort Systems USA, Inc. 56.11 51.93 4.18 8.05% 59.05 35.85 36960 2073825.6
NYSE DOV Dover Corp. 86.19 82.03 4.16 5.07% 90.26 70.11 146330 12612182.7
NYSE DWDP DowDuPont 58.73 58.94 -0.21 -0.36% 77.08 51.32 2290000 134491700
NYSE EME EMCOR Group, Inc. 74.26 69.12 5.14 7.44% 85.08 63.81 57560 4274405.6
NYSE EMR Emerson Electric Co. 68.81 71.42 -2.61 -3.65% 79.70 57.47 628470 43245020.7
NYSE FCAU Fiat Chrysler 16.58 16.22 0.36 2.22% 24.95 14.97 1550000 25699000
NYSE F Ford Motor Co. 9.31 8.81 0.50 5.68% 13.48 8.17 3910000 36402100
NYSE GM General Motors Co. 35.55 32.12 3.43 10.68% 45.52 30.56 1410000 50125500
NYSE HON Honeywell International, Inc. 147.77 156.21 -8.44 -5.40% 162.52 133.71 740290 109392653.3
NASD HDSN Hudson Technologies, Inc. 1.09 1.23 -0.14 -11.38% 6.98 0.70 42400 46216
NYSE IR Ingersoll-Rand Plc 103.72 97.11 6.61 6.81% 105.76 79.63 245660 25479855.2
NYSE JCI Johnson Controls, Inc. 33.52 33.15 0.37 1.12% 41.53 30.60 924920 31003318.4
NYSE LII Lennox International Inc. 215.20 199.71 15.49 7.76% 229.98 177.36 40280 8668256
NYSE LXU LSB Industries, Inc. 7.25 8.60 -1.35 -15.70% 10.05 4.75 28620 207495
NYSE MTW Manitowoc Co., Inc. 19.07 21.05 -1.98 -9.41% 44.03 16.74 35590 678701.3
NYSE MLI Mueller Industries, Inc. 25.29 25.81 -0.52 -2.01% 37.57 23.32 57670 1458474.3
NYSE NWL Newell Brands, Inc. 21.38 17.43 3.95 22.66% 32.58 15.12 472500 10102050
OTC NSANY Nissan Motor Co. Ltd. 17.93 17.82 0.11 0.62% 22.14 17.39 3910000 70106300
NASD OFLX OmegaFlex, Inc. 58.67 62.90 -4.23 -6.72% 95.00 53.50 10090 591980.3
NYSE PH Parker-Hannifin Corp. 169.94 163.53 6.41 3.92% 212.80 143.00 132350 22491559
NYSE RBC Regal-Beloit Corp. 77.77 77.22 0.55 0.71% 86.75 67.84 43140 3354997.8
NYSE ROK Rockwell Automation 172.70 169.02 3.68 2.18% 209.38 153.67 120680 20841436
OTC SIEGY Siemens Aktiengesellschaft  57.93 58.19 -0.26 -0.45% 77.17 56.78 814100 47160813
NYSE SPXC SPX Corp.  29.75 29.75 0.00 0.00% 39.28 28.21 43390 1290852.5
NYSE TXN Texas Instruments 97.96 99.43 -1.47 -1.48% 120.75 87.90 960540 94094498.4
NYSE UTX United Technologies Corp. 129.73 130.33 -0.60 -0.46% 144.15 115.40 800980 103911135.4
NYSE WSO Watsco, Inc. 145.81 164.27 -18.46 -11.24% 192.94 138.61 29050 4235780.5
 
 
Price 11/15/18
Price 10/15/18
Net Change
Percent Change
HVACR Business Stock Index 1,423.73 1,426.74 -3.01 -0.21%
Dow Jones Industrial Average 25,289.27 25,250.55 38.72 0.15%
S&P 500 Index 2,730.20 2,750.79 -20.59 -0.75%
NASDAQ Composite 7,259.03 7,430.74 -171.71 -2.31%

 

Gainers/Losers
$ Gainer Lennox International Inc. 15.49
$ Loser Watsco, Inc. -18.46
 
% Gainer AAON, Inc. 27.01%
% Loser LSB Industries, Inc. -15.70%
 
Advancers 15
Decliners 14
Unchanged 1

The HVACR Business Stock Index inched down 3.01 points, or 0.21 percent, closing at 1423.73; the largest four companies in the index ended in negative terrain. However, advancing squeezed by declining issues by a 15-to-14 count.

LSB Industries widened its loss and shares fell 1.35 points, or 15.70 percent. For the third quarter, LXU said it lost $26.1 million, or $1.22 per share, compared to a loss of $17.1 million, or $0.91 per share in the year-ago quarter. Revenue was $79.8 million, versus last year’s $92.4 million. LXU closed at 7.25 and was the top percentage loser.

Lennox was the top dollar gainer this month despite missing on earnings and revenue. For the third quarter, LII posted net income of $108 million, or $2.65 per share. Adjusted for one-time items, Lennox earned $2.72 per share. Adjusted revenue was $1.02 billion. Analysts polled by Zacks expected earnings of $2.91 per share and revenue of $1.06 billion. LII jumped 15.49 points, or 7.76 percent, and ended at 215.20.

Watsco tumbled 18.46 points, or 11.24 percent, and closed at 145.81. For the third quarter, WSO reported net income of $72.7 million, or $2.11 per share. Revenue was $1.3 billion. Analysts expected earnings of $2.25 per share. Investment firm JP Morgan cut its rating to “underweight” from “neutral.” WSO was the top dollar loser.

 




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

Stock Index Recovers from Last Month’s Swoon

The HVACR Business Stock Index inched down 3.01 points, or 0.21 percent, closing at 1423.73; the largest four companies in the index ended in negative terrain. However, advancing squeezed by declining issues by a 15-to-14 count.
View article.

 

Markets Tumble as Trade Wars Bite

The HVACR Business Stock Index tumbled, shedding 136.55 points, or 8.73 percent and closing at 1426.74, the lowest close since April 2017. Declining issues shut out advancing issues, with all thirty companies posting in negative terrain.
View article.

 

Stocks Push Higher Despite Trade Concerns

The HVACR Business Stock Index rose 52.22 points, or 3.46 percent, and ended at 1563.29. Advancing issues dominated declining issues by a 5-to-1 margin.
View article.

 

Stocks End Mixed on Earnings and Tariff Talk

The HVACR Business Stock Index slid 27.90 points, or 1.81 percent, and closed at 1511.08. However, advancing issues outpaced declining issues at a 17-to-14 count.
View article.

 

Tariff Wars Create Market Jitters as Wall Street Begins Earnings Season

The HVACR Business Stock Index fell 45.11 points, or 2.85 percent, and closed at 1538.98. Declining issues outpaced advancing issues by a 20-to-11 count.
View article.