Facebook Twitter LinkedIn Google+


Stocks Hit Rough Patch as Earnings Begin

Originally published: 04.17.17 by Margot Crabtree


The Nasdaq hit a new high this session, but little else was upbeat as our trading session ended April 13, 2017; markets were closed for Good Friday on the 14th. The American Health Care Act dominated the first week of our session, and markets waffled on the uncertainty.

Economists forecast that new home sales would rise 0.7 percent in February; instead, the Commerce Department said they improved 6.1 percent, a 7-month high, up 12.8 percent from this time last year.

The National Association of Realtors, however, said that sales of existing homes fell 3.7 percent in February following a jump in January. The National Association of Realtors said its February pending home sales index hit 112.3, a 5.5 percent increase and the second-highest reading since 2006.

Trading remained listless as the quarter ended, though the quarter itself was solidly positive. The Commerce Department reported that consumer spending increased a lackluster 0.1 percent in February. The Conference Board said that its consumer confidence index jumped to 125.6 in March, from 116.1 in February, the strongest reading since December, 2000.

The Labor Department said that employers added 98,000 jobs in March, far below the 178,000 jobs expected, provided by FactSet. However, the pace of unemployment


fell to 4.5 percent, the lowest since May 2007. The Commerce Department said that orders to U.S. factories rose 1 percent in February, following a 1.5 percent gain in January.

A March gauge for factory activity, from the Institute of Supply Management, fell to 57.2 in March, from a 57.7 reading in February, the highest since August, 2014. The Labor Department reported that its producer price index, which tallies inflation, fell 0.1 percent in March, the first decline since August. Producer prices were up 2.3 percent from a year ago, the biggest annual bump in five years.

“The market is kind of on hold until we start getting earnings reports and you start to read the body language on what managements are saying,” said Thomas Martin, portfolio manager at GLOBALT Investments. “We’re getting this slow churning really until we start getting some information.”

Exchange
Symbol
Company Name
Price
4/13/17
Price
3/15/17
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 33.95 36.20 -2.25 -6.22% 37.10 25.33 52630 1786788.5
NYSE ABB ABB Ltd. 22.63 23.00 -0.37 -1.61% 23.90 18.72 2140000 48428200
NYSE AOS AO Smith Corp. 49.56 51.82 -2.26 -4.36% 52.56 37.74 147270 7298701.2
NYSE FIX Comfort Systems USA, Inc. 34.95 36.20 -1.25 -3.45% 39.67 26.05 37120 1297344
NYSE DOV Dover Corp. 78.52 79.33 -0.81 -1.02% 82.56 62.89 155590 12216926.8
NASD ELON Echelon Corp. 5.98 5.92 0.06 1.01% 6.42 4.17 4430 26491.4
NYSE DD E. I. DuPont de Nemours & Co. 77.44 81.49 -4.05 -4.97% 82.37 61.12 864570 66952300.8
NYSE EME EMCOR Group, Inc. 60.39 63.92 -3.53 -5.52% 73.44 44.27 59660 3602867.4
NYSE EMR Emerson Electric Co. 57.87 60.27 -2.40 -3.98% 64.36 48.45 645070 37330200.9
NYSE FCAU Fiat Chrysler 9.70 11.32 -1.62 -14.31% 11.63 5.45 1530000 14841000
NYSE F Ford Motor Co. 11.11 12.65 -1.54 -12.17% 14.22 11.07 3910000 43440100
NYSE GM General Motors Co. 33.39 37.09 -3.70 -9.98% 35.88 27.34 1510000 50418900
NYSE HON Honeywell International, Inc. 122.50 126.97 -4.47 -3.52% 127.52 105.25 760720 93188200
NASD HDSN Hudson Technologies, Inc. 6.51 6.84 -0.33 -4.82% 8.50 3.09 41520 270295.2
NYSE IR Ingersoll-Rand Plc 81.86 80.81 1.05 1.30% 83.99 59.10 259510 21243488.6
NYSE JCI Johnson Controls, Inc. 40.60 41.93 -1.33 -3.17% 48.97 36.29 938710 38111626
NYSE LII Lennox International Inc. 165.23 171.66 -6.43 -3.75% 172.96 131.90 42430 7010708.9
NYSE LXU LSB Industries, Inc. 7.53 9.83 -2.30 -23.40% 15.50 4.52 28410 213927.3
NYSE MTW Manitowoc Co., Inc. 5.53 5.90 -0.37 -6.27% 7.57 3.65 140480 776854.4
NYSE MLI Mueller Industries, Inc. 32.21 33.49 -1.28 -3.82% 43.96 29.51 57600 1855296
NYSE NWL Newell Rubbermaid, Inc. 46.02 48.96 -2.94 -6.00% 55.45 43.20 482400 22200048
OTC NSANY Nissan Motor Co. Ltd. 18.43 20.13 -1.70 -8.45% 20.76 17.53 3910000 72061300
NASD OFLX OmegaFlex, Inc. 47.03 42.76 4.27 9.99% 64.91 31.53 10090 474532.7
NYSE PH Parker-Hannifin Corp. 153.59 159.58 -5.99 -3.75% 163.14 99.10 133290 20472011.1
NYSE RBC Regal-Beloit Corp. 74.05 76.00 -1.95 -2.57% 77.80 51.57 44810 3318180.5
NYSE ROK Rockwell Automation 148.43 156.47 -8.04 -5.14% 159.78 107.17 128600 19088098
OTC SIEGY Siemens Aktiengesellschaft  67.00 66.36 0.64 0.96% 68.76 47.72 1620000 108540000
NYSE SPXC SPX Corp.  22.20 24.77 -2.57 -10.38% 28.13 14.00 42790 949938
NYSE TXN Texas Instruments 77.84 81.82 -3.98 -4.86% 82.44 56.19 999640 77811977.6
NYSE UTX United Technologies Corp. 112.09 113.08 -0.99 -0.88% 114.44 96.89 801690 89861432.1
NYSE WSO Watsco, Inc. 135.45 147.69 -12.24 -8.29% 159.55 127.66 27460 3719457

 

 
Price 4/13/17
Price 3/15/17
Net Change
Percent Change
HVACR Business Stock Index 1,403.71 1,467.27 -63.56 -4.33%
Dow Jones Industrial Average 20,453.25 20,950.10 -496.85 -2.37%
S&P 500 Index 2,328.95 2,385.26 -56.31 -2.36%
NASDAQ Composite 5,805.15 5,900.05 -94.90 -1.61%

 

Gainers/Losers
$ Gainer OmegaFlex, Inc. 4.27
$ Loser Watsco, Inc. -12.24
 
% Gainer OmegaFlex, Inc. 9.99%
% Loser LSB Industries, Inc. -23.40%
 
Advancers 4
Decliners 27

 

The HVACR Business Stock Index fell 63.56 points, or 4.33 percent, and closed at 1403.71. Declining issues handily dominated advancing issues by a 27-to-4 count.

Despite an upgrade, LSB Industries slid 2.30 points, or 23.40 percent. Zacks Investment Research upgraded LXU to “buy” from “hold;” their price target is $12. LXU ended at 7.53, and was the top percentage loser.

OmegaFlex was the top dollar and percentage gainer this session, though there was little news to report. The stock had several spikes in volume during our session. Its average daily volume is roughly 5,400, but two days in March, the stock spiked at volumes more than 21,000. On April 3-5, OFLX posted daily volumes of about 16,400, 18,600 and 11,600, respectively.

OmegaFlex jumped 4.27 points, or 9.99 percent, and ended at 47.03.

Shares of Watsco tumbled 12.24 points, or 8.29 percent. WSO has an average rating of “hold” from the 12 brokerages covering the stock; its average price target is $146.44. Watsco ended at 135.45, and 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

Major Markets Positive, HVACR Business Index Slips

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.
View article.

 

Wall Street Shrugs Off Hurricanes, Geopolitical Tensions

The HVACR Business Stock Index jumped 61.79 points, or 4.07 percent, and ended at 1578.76, another record high close. Advancing issues dominated declining issues by a 27-to-4 count.
View article.

 

HVACR Business Index Turns Positive

The HVACR Business Stock Index rose 56.53 points, or 3.87 percent, and closed at 1516.98. Advancing issues dominated declining issues at a 25-to-6 count.
View article.

 

Choppy Session with Highs, Tumbles and Boredom

The HVACR Business Stock Index fell 64.62 points, or 4.24 percent, and closed at 1460.45. Declining issues overpowered advancing issues at a 26-to-5 count.
View article.

 

Oil Pressures Markets; Wall Street Ends in Records

The HVACR Business Stock Index posted a solid upswing, adding 30.55 points, or 2.04 percent, to end at 1525.06, a record in six out of seven months this year.
View article.