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Market Rally Slows, but Stocks Keep Notching Records

Originally published: 02.16.17 by Margot Crabtree


Our rally-happy markets continued on a tear, but took a breather as our trading session ended Feb. 15, 2017. The Dow industrials topped the 20,000 mark, buoyed by Trump’s business-friendly policies.

The Labor Department reported that its consumer price index increased 0.3 percent in December. Although business spending rose in December, as tracked by numbers released by the Commerce Department, a separate report showed that the economy slowed in the fourth quarter, with gains of 1.9 percent, as compared with the 3.5 percent growth of the quarter before.

The Labor Department reported that 227,000 jobs were created in January in both the public and private sectors; economists were expecting 175,000 jobs; it was the strongest gain since September. The National Association of Realtors said that December sales of existing homes slid 2.8 percent, to the lowest since 1999.

The Commerce Department reported a drop of 10.4 percent in December for new home sales, far higher than the 1 percent drop expected by an economist poll from Reuters.

The Commerce Department reported that orders to factories in the U.S. improved 1.3 percent in December. The Commerce Department said that consumer spending was up 0.5 percent in December. It was the largest increase in three


months, and met economists’ expectations. The Conference Board reported, however, that its consumer confidence index fell from December’s 15-year high, at 113.3, to a reading of 111.8 in January.

“The underlying momentum in the economy remains positive, so that gives us a positive bias toward the equity market, but we also know that there is a lot of volatility just around the corner,” said Alan Gayle, senior investment strategist and director of asset allocation at RidgeWorth Investments.

Exchange
Symbol
Company Name
Price
2/15/17
Price
1/13/17
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 34.60 32.90 1.70 5.17% 35.05 20.00 52760 1825496
NYSE ABB ABB Ltd. 22.93 22.48 0.45 2.00% 23.90 17.26 2140000 49070200
NYSE AOS AO Smith Corp. 49.34 48.46 0.88 1.82% 51.49 33.58 147700 7287518
NYSE FIX Comfort Systems USA, Inc. 34.00 33.80 0.20 0.59% 35.25 25.40 36910 1254940
NYSE DOV Dover Corp. 80.15 79.65 0.50 0.63% 82.32 58.15 155500 12463325
NASD ELON Echelon Corp. 4.88 4.75 0.13 2.74% 6.28 4.17 4430 21618.4
NYSE DD E. I. DuPont de Nemours & Co. 77.94 73.60 4.34 5.90% 78.36 57.76 864570 67384585.8
NYSE EME EMCOR Group, Inc. 70.15 68.96 1.19 1.73% 73.44 44.16 60650 4254597.5
NYSE EMR Emerson Electric Co. 63.73 57.12 6.61 11.57% 64.36 46.98 645070 41110311.1
NYSE FCAU Fiat Chrysler 11.52 9.73 1.79 18.40% 11.63 5.45 1290000 14860800
NYSE F Ford Motor Co. 12.63 12.63 0.00 0.00% 14.22 11.07 3860000 48751800
NYSE GM General Motors Co. 37.08 37.34 -0.26 -0.70% 38.38 27.34 1500000 55620000
NYSE HON Honeywell International, Inc. 124.28 118.07 6.21 5.26% 124.47 101.25 761190 94600693.2
NASD HDSN Hudson Technologies, Inc. 7.75 7.84 -0.09 -1.15% 8.50 2.91 41410 320927.5
NYSE IR Ingersoll-Rand Plc 81.62 77.27 4.35 5.63% 82.17 51.32 259510 21181206.2
NYSE JCI Johnson Controls, Inc. 41.62 43.66 -2.04 -4.67% 48.97 33.01 938710 39069110.2
NYSE LII Lennox International Inc. 159.32 149.38 9.94 6.65% 164.93 119.75 43050 6858726
NYSE LXU LSB Industries, Inc. 9.94 8.16 1.78 21.81% 15.50 4.52 27910 277425.4
NYSE MTW Manitowoc Co., Inc. 6.77 5.96 0.81 13.59% 7.57 3.31 138770 939472.9
NYSE MLI Mueller Industries, Inc. 43.01 39.50 3.51 8.89% 43.96 25.42 57380 2467913.8
NYSE NWL Newell Rubbermaid, Inc. 47.27 47.00 0.27 0.57% 55.45 36.03 482400 22803048
OTC NSANY Nissan Motor Co. Ltd. 19.80 20.15 -0.35 -1.74% 20.76 16.80 3910000 77418000
NASD OFLX OmegaFlex, Inc. 44.90 49.96 -5.06 -10.13% 64.91 30.22 10090 453041
NYSE PH Parker-Hannifin Corp. 155.49 146.25 9.24 6.32% 156.44 98.46 133290 20725262.1
NYSE RBC Regal-Beloit Corp. 74.50 71.80 2.70 3.76% 77.20 51.57 44760 3334620
NYSE ROK Rockwell Automation 152.49 141.99 10.50 7.39% 155.44 99.67 128600 19610214
OTC SIEGY Siemens Aktiengesellschaft  129.31 123.80 5.51 4.45% 132.42 90.83 809030 104615669.3
NYSE SPXC SPX Corp.  25.00 24.83 0.17 0.68% 25.95 9.16 41890 1047250
NYSE TXN Texas Instruments 75.67 75.00 0.67 0.89% 79.47 51.31 999490 75631408.3
NYSE UTX United Technologies Corp. 111.91 110.22 1.69 1.53% 112.83 86.64 805860 90183792.6
NYSE WSO Watsco, Inc. 148.40 150.45 -2.05 -1.36% 159.55 123.64 27530 4085452

 

 
Price 2/15/17
Price 1/13/17
Net Change
Percent Change
HVACR Business Stock Index 1,437.19 1,405.96 31.23 2.22%
Dow Jones Industrial Average 20,611.86 19,885.73 726.13 3.65%
S&P 500 Index 2,349.25 2,274.64 74.61 3.28%
NASDAQ Composite 5,819.44 5,574.12 245.32 4.40%

 

Gainers/Losers
$ Gainer Rockwell Automation 10.50
$ Loser OmegaFlex, Inc. -5.06
 
% Gainer LSB Industries, Inc. 21.81%
% Loser OmegaFlex, Inc. -10.13%
 
Advancers 24
Decliners 6
Unchanged 1

 

The HVACR Business Stock Index added 31.23 points, or 2.22 percent, and closed at 1437.19, its second record close this year. Advancing issues dominated declining issues by a 4-to-1 margin.

Rockwell Automation beat estimates, and shares jumped 10.50 points, or 7.39 percent. ROK reported first quarter net income of $214.7 million, or $1.65 per share, from $185.5 million, or $1.40 per share in the year-ago quarter. Adjusted for one-time items, Rockwell earned $1.75 per share. Revenue was $1.49 billion.

Analysts polled by Thomson Reuters expected earnings of $1.44 per share and revenue of $1.42 billion. Buckingham Research upped its rating on ROK to “buy” from “neutral;” Gabelli & Co. downgraded Rockwell to “sell” from “hold.” Their price target is $150. Rockwell ended at 152.49, and was the top dollar gainer.

OmegaFlex shed 5.06 points, or 10.13 percent. OFLX reported fourth quarter net income of $4.1 million, or $0.41 per share. This compares to earnings of $4.7 million, or $0.47 per share in the comparable year-ago quarter. Revenue was $25.6 million, from last year’s $26.1 million. OmegaFlex ended at 44.90, and was the top dollar and percentage loser.

Lennox rose 9.94 points, or 6.65 percent. LII reported fourth quarter net income of $40.4 million, or $0.93 per share. Excluding one-time items, Lennox earned $1.50 per share. Revenue was $897.3 million. Analysts surveyed by Zacks expected earnings of $1.40 per share and revenue of $880.4 million. Lennox ended at 159.32.

 

 


Articles by Margot Crabtree

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View article.