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Markets Inch Ahead in Lackluster Session

Originally published: 05.18.15 by Margot Crabtree


Wall Street ended a session of waffling with a creep forwards, with the S&P 500 Index ending in record territory as our trading session ended May 15, 2015.

The Commerce Department reported that orders for durable goods were up by the highest amount in eight months in March. The University of Michigan’s consumer sentiment index jumped to 95.9 in April, but tumbled to 88.6 in May, the lowest reading since October and the biggest drop in over two years.

March’s overall construction spending fell 0.6 percent as the Commerce Department reported weakness in home building and government projects counterbalanced an increase in non-residential construction.

A report from the Commerce Department showed that the economy slowed to a near halt in the first quarter, growing at an annual rate of 0.2 percent, with weather, a slow-down in oil and gas drilling and tumbling exports pressuring advancement.

In early May, Wall Street loved the Goldilocks jobs report: a little stronger, but not so robust as to invite a rate-raise by the Federal Reserve. The reports reflecting a weaker economy, though, gave investors heart that the Fed will not move aggressively on interest rates in 2015.

"With the markets treading, it’s really reflecting what’s happening in the


general economy," said Warren West, principal at Greentree Brokerage Services in Philadelphia. "The rest of the economy’s not breaking out, so how can the market?"

Exchange
Symbol
Company Name
Price
7/15/14
Price
6/15/14
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 23.14 24.56 -1.42 -5.78% 25.17 16.78 54140 1252799.6
NYSE ABB ABB Ltd. 22.21 22.08 0.13 0.59% 24.15 19.14 2240000 49750400
NYSE ARG Airgas, Inc. 103.04 105.48 -2.44 -2.31% 119.00 99.61 75120 7740364.8
NYSE AOS AO Smith Corp. 69.76 65.71 4.05 6.16% 69.97 44.60 76050 5305248
NYSE FIX Comfort Systems USA, Inc. 22.40 21.17 1.23 5.81% 22.82 12.63 37230 833952
NYSE DOV Dover Corp. 75.95 73.99 1.96 2.65% 91.84 67.13 160380 12180861
NASD ELON Echelon Corp. 0.93 0.93 0.00 0.00% 2.96 0.89 44110 41022.3
NYSE DD E. I. DuPont de Nemours & Co. 70.25 72.10 -1.85 -2.57% 80.65 63.70 905240 63593110
NYSE EME EMCOR Group, Inc. 45.83 47.53 -1.70 -3.58% 48.00 38.68 62690 2873082.7
NYSE EMR Emerson Electric Co. 60.19 59.16 1.03 1.74% 68.80 54.95 668300 40224977
NYSE FCAU Fiat Chrysler 15.45 16.49 -1.04 -6.31% 17.08 8.54 1290000 19930500
NYSE F Ford Motor Co. 15.48 16.07 -0.59 -3.67% 18.12 13.26 3900000 60372000
NYSE GM General Motors Co. 34.91 36.94 -2.03 -5.50% 38.99 28.82 1610000 56205100
NYSE HON Honeywell International, Inc. 106.85 103.79 3.06 2.95% 106.92 82.89 781710 83525713.5
NASD HDSN Hudson Technologies, Inc. 4.12 3.93 0.19 4.83% 4.80 2.55 32360 133323.2
NYSE IR Ingersoll-Rand Plc 70.91 69.19 1.72 2.49% 70.93 52.47 264720 18771295.2
NYSE JCI Johnson Controls, Inc. 50.48 50.00 0.48 0.96% 53.41 38.60 654830 33055818.4
NYSE LII Lennox International Inc. 114.06 113.58 0.48 0.42% 114.24 72.91 45000 5132700
NYSE LXU LSB Industries, Inc. 42.76 41.81 0.95 2.27% 47.33 28.91 22730 971934.8
NYSE MTW Manitowoc Co., Inc. 19.62 22.45 -2.83 -12.61% 33.50 16.24 136150 2671263
NYSE MLI Mueller Industries, Inc. 35.97 36.93 -0.96 -2.60% 37.18 27.10 56930 2047772.1
NYSE NWL Newell Rubbermaid, Inc. 40.08 39.63 0.45 1.14% 40.73 28.89 268500 10761480
OTC NSANY Nissan Motor Co. Ltd. 21.46 20.90 0.56 2.68% 21.75 16.65 2100000 45066000
NASD NTK Nortek, Inc. 84.00 89.16 -5.16 -5.79% 92.30 70.73 16270 1366680
NASD OFLX OmegaFlex, Inc. 31.12 26.67 4.45 16.69% 39.46 15.93 10090 314000.8
NYSE PH Parker-Hannifin Corp. 122.33 123.50 -1.17 -0.95% 133.41 99.82 138680 16964724.4
NYSE RBC Regal-Beloit Corp. 79.64 77.44 2.20 2.84% 80.77 62.15 44720 3561500.8
NYSE ROK Rockwell Automation 124.37 114.14 10.23 8.96% 128.57 98.55 134580 16737714.6
OTC SIEGY Siemens Aktiengesellschaft  110.00 110.14 -0.14 -0.13% 136.27 103.20 835250 91877500
NYSE SPW SPX Corp.  76.83 85.82 -8.99 -10.48% 111.47 74.99 41030 3152334.9
NYSE TXN Texas Instruments 55.61 58.50 -2.89 -4.94% 59.99 41.47 1040000 57834400
NYSE UTX United Technologies Corp. 118.49 117.87 0.62 0.53% 124.45 97.30 890200 105479798
NYSE WSO Watsco, Inc. 126.31 124.67 1.64 1.32% 131.10 84.28 27570 3482366.7

 

Market listlessness was reflected in the HVACR Business Stock Index, with the index falling 27.10 points, or 2.03 percent, and closing at 1309.10. Advancing issues bested declining issues by an 18-to-14 count.

SPX Corp swung to a loss on the stronger dollar, and shares fell 8.99 points, or 10.48 percent. SPW lost $7.1 million, or $0.17 per share, compared to net income of $318 million, or 6.59 per share last year. Adjusted for one-time items, SPW earned $0.05 per share. Revenue was $947 million. Analysts surveyed by Zacks Investment Research expected earnings of $0.08 per share and revenue of $980.4 million. SPW closed at 76.83, and was the top dollar loser.

Rockwell Automation jumped 10.23 points, or 8.96 percent. The company’s fiscal second quarter results beat expectations on earnings, but missed on revenues. Net income was up 14.3 percent to $206 million, or $1.51 per share, compared with net income of $180.3 million, or $1.28 per share last year.

Excluding one-time items, ROK earned $1.59 per share. Revenue was $1.55 billion. Analysts polled by Zacks Investment Research expected $1.42 per share and revenue of $1.56 billion. Rockwell ended at 124.37, and was the top dollar gainer.

Manitowoc slid 2.83 points, or 12.61 percent even though the company narrowed its loss and met earnings expectations for its first quarter.

MTW said it lost $8.4 million, or $0.06 per share, compared to a loss of $8.8 million, or $0.06 per share last year. Adjusted for one-time items, Manitowoc earned $0.05 per share, in line with expectations. Revenue fell 11.5 percent, to $752.1 million, which exceeded the $749.9 million anticipated by analysts. MTW closed at 19.62, and was the top percentage loser.


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.

 

 




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