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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Originally published: 04.18.16 by Margot Crabtree
Economic data from previous months reflected a slowing global marketplace and the ravages of rock-bottom oil prices, but the gloom was moderated as earnings season began and our trading session ended April 15, 2016.
It began with a National Association of Realtors existing home sales report sliding 7.1 percent in February, switching from months of gains as low inventories escalated prices and dampened sales.
On the flip side, the Commerce Department said that new home sales rose 2 percent, on the back of home sales in the West, which jumped 38.5 percent in February after huge declines in January.
The National Association of Realtors said that contracts to buy homes increased in February, with a spike in the Midwest, as its pending home sales index increased 3.5 percent to 109.1, its highest level since July 2015. The National Association of Home Builders/Wells Fargo builder sentiment index remained flat in March, at 58.
The Institute for Supply Management's manufacturing index rose to 51.8 in March, from February's 49.5; any number above 50 signals expansion. This ends five months of declines in factory activity. The Federal Reserve said factory output fell in March for the second straight month, down 0.3 percent,
The University of Michigan's consumer sentiment index fell to 91 in March, from 91.7 in February, its lowest level since October, as people reviewed the country's economic outlook. Conversely, the Conference Board's consumer confidence improved to 96.2 in March after a 94 reading in February.
"The market has been expecting earnings to be absolutely terrible and they are, but they're not quite as terrible as everyone thought and things are looking better ahead," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts. "When you combine not-as-bad today with the promise of a better tomorrow, that says that perhaps there's more upside and the market is starting to react to that."
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
NASD | AAON | AAON, Inc. | 27.27 | 25.47 | 1.80 | 7.07% | 28.28 | 18.85 | 53070 | 1447218.9 |
NYSE | ABB | ABB Ltd. | 19.79 | 18.35 | 1.44 | 7.85% | 23.66 | 15.74 | 2190000 | 43340100 |
NYSE | ARG | Airgas, Inc. | 142.00 | 141.35 | 0.65 | 0.46% | 142.24 | 86.09 | 72430 | 10285060 |
NYSE | AOS | AO Smith Corp. | 79.23 | 73.20 | 6.03 | 8.24% | 81.15 | 50.09 | 74760 | 5923234.8 |
NYSE | FIX | Comfort Systems USA, Inc. | 32.81 | 28.83 | 3.98 | 13.81% | 35.00 | 13.37 | 37200 | 1220532 |
NYSE | DOV | Dover Corp. | 65.98 | 61.49 | 4.49 | 7.30% | 78.21 | 50.91 | 155120 | 10234817.6 |
NASD | ELON | Echelon Corp. | 5.41 | 6.00 | -0.59 | -9.83% | 12.10 | 4.71 | 4420 | 23912.2 |
NYSE | DD | E. I. DuPont de Nemours & Co. | 65.27 | 62.83 | 2.44 | 3.88% | 75.72 | 47.11 | 871680 | 56894553.6 |
NYSE | EME | EMCOR Group, Inc. | 48.46 | 45.85 | 2.61 | 5.69% | 52.37 | 40.98 | 60660 | 2939583.6 |
NYSE | EMR | Emerson Electric Co. | 55.32 | 50.79 | 4.53 | 8.92% | 62.75 | 41.25 | 643120 | 35577398.4 |
NYSE | FCAU | Fiat Chrysler | 7.52 | 7.60 | -0.08 | -1.05% | 11.01 | 5.78 | 1290000 | 9700800 |
NYSE | F | Ford Motor Co. | 12.94 | 13.23 | -0.29 | -2.19% | 16.10 | 10.44 | 3910000 | 50595400 |
NYSE | GM | General Motors Co. | 30.56 | 31.05 | -0.49 | -1.58% | 37.45 | 24.62 | 1550000 | 47368000 |
NYSE | HON | Honeywell International, Inc. | 114.63 | 108.68 | 5.95 | 5.47% | 114.99 | 87.00 | 761340 | 87272404.2 |
NASD | HDSN | Hudson Technologies, Inc. | 3.56 | 3.48 | 0.08 | 2.30% | 4.75 | 2.45 | 32850 | 116946 |
NYSE | IR | Ingersoll-Rand Plc | 63.77 | 58.64 | 5.13 | 8.75% | 70.93 | 47.08 | 256850 | 16379324.5 |
NYSE | JCI | Johnson Controls, Inc. | 39.17 | 37.66 | 1.51 | 4.01% | 54.52 | 33.62 | 648240 | 25391560.8 |
NYSE | LII | Lennox International Inc. | 140.84 | 132.88 | 7.96 | 5.99% | 142.49 | 104.94 | 43600 | 6140624 |
NYSE | LXU | LSB Industries, Inc. | 13.41 | 10.25 | 3.16 | 30.83% | 47.33 | 3.68 | 23470 | 314732.7 |
NYSE | MTW | Manitowoc Co., Inc. | 4.79 | 4.22 | 0.57 | 13.51% | 20.85 | 4.00 | 137020 | 656325.8 |
NYSE | MLI | Mueller Industries, Inc. | 30.49 | 27.45 | 3.04 | 11.07% | 37.11 | 23.09 | 57180 | 1743418.2 |
NYSE | NWL | Newell Rubbermaid, Inc. | 44.33 | 41.37 | 2.96 | 7.15% | 50.90 | 33.26 | 268070 | 11883543.1 |
OTC | NSANY | Nissan Motor Co. Ltd. | 18.38 | 19.07 | -0.69 | -3.62% | 21.92 | 16.57 | 2100000 | 38598000 |
NASD | NTK | Nortek, Inc. | 48.18 | 44.42 | 3.76 | 8.46% | 92.96 | 33.85 | 16310 | 785815.8 |
NASD | OFLX | OmegaFlex, Inc. | 35.91 | 34.12 | 1.79 | 5.25% | 43.20 | 25.87 | 10090 | 362331.9 |
NYSE | PH | Parker-Hannifin Corp. | 113.72 | 108.23 | 5.49 | 5.07% | 125.33 | 83.32 | 135100 | 15363572 |
NYSE | RBC | Regal-Beloit Corp. | 67.19 | 58.61 | 8.58 | 14.64% | 81.36 | 47.77 | 44670 | 3001377.3 |
NYSE | ROK | Rockwell Automation | 116.86 | 107.18 | 9.68 | 9.03% | 127.05 | 87.53 | 131420 | 15357741.2 |
OTC | SIEGY | Siemens Aktiengesellschaft | 104.43 | 100.83 | 3.60 | 3.57% | 111.49 | 86.58 | 807730 | 84351243.9 |
NYSE | SPXC | SPX Corp. | 16.91 | 12.86 | 4.05 | 31.49% | 21.48 | 7.62 | 41860 | 707852.6 |
NYSE | TXN | Texas Instruments | 58.93 | 55.73 | 3.20 | 5.74% | 59.67 | 43.49 | 1010000 | 59519300 |
NYSE | UTX | United Technologies Corp. | 104.57 | 96.29 | 8.28 | 8.60% | 119.66 | 83.39 | 876730 | 91679656.1 |
NYSE | WSO | Watsco, Inc. | 135.42 | 127.88 | 7.54 | 5.90% | 136.43 | 106.58 | 27480 | 3721341.6 |
The HVACR Business Stock Index rose 54.28 points, or 4.84 percent, and closed at 1175.02. Advancing issues dominated declining issues by a 28-to-5 count.
Rockwell Automation jumped 9.68 points, or 9.03 percent. ROK's board approved an additional $1 billion to its share repurchase program, which expands the program initially authorized in 2014 at $1 billion in buy-backs. Morgan Stanley increased its price target on Rockwell to $101, from $91. ROK will announce earnings in late April. Rockwell ended at 116.86, and was the top dollar gainer.
Despite posting record sales in March, shares of Nissan fell 0.69 points, or 3.62 percent. NSANY sold more vehicles in the U.S. in the month, at 163,559, than in any previous month, and 12.7 percent ahead of a year ago. It missed Edwards.com analysts' expectations of 14.4 percent growth, but exceeded Kelly Blue Book projections of 9.6 percent. Nissan closed at 18.38, and was the top dollar loser.
SPX Corp. rose 4.05 points, or 31.49 percent after reporting the completion of its dry cooling business to India's Parharpur Cooling Towers Limited, for about $48 million. Credit Suisse upgraded SPXC to "outperform" from "neutral." SPX Corp. ended at 16.91, and 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.
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.
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.
View article.
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.
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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.
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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.
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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.