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: 10.16.15 by Margot Crabtree
In contrast to typical trends, the Federal Reserve said it will not raise interest rates, and all 10 sectors of the S&P 500 took a hit.
As our trading session ended October 15, 2015, however, a further slowdown in job creation led the central bankers to decide not to raise rates at least for the next few months, and Wall Street hit an eight-week high. Between those bookends, the economic picture was mixed.
While new home sales surged to a seven-year high in August, September consumer sentiment fell to the lowest level in a year. The University of Michigan's sentiment index slid to 87.2, from 91.9 in August, the third straight monthly decline, on concerns about worldwide economic health.
In contrast, the Commerce Department reported that new home sales jumped 5.7 percent in August, the strongest pace since February 2008. Overall construction spending increased 0.7 percent in August to the highest in seven years, driven by government projects and home construction.
September's manufacturing growth remained at a two-year low, and Chinese factory activity slid to a six-and-a-half year low. The Labor Department reported an increase of only 142,000 jobs in September, rather than the 203,000 expected in a Reuters survey.
The Conference Board said
"There's a lot of cash on the sidelines, and we did break through to a new high since the August decline," said Tim Ghriskey, chief investment officer of Solaris Group. "Volume picked up as well, which is a strong indicator."
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
NASD | AAON | AAON, Inc. | 21.07 | 20.32 | 0.75 | 3.69% | 25.17 | 17.55 | 54230 | 1142626.1 |
NYSE | ABB | ABB Ltd. | 18.66 | 18.62 | 0.04 | 0.21% | 23.66 | 17.13 | 2220000 | 41425200 |
NYSE | ARG | Airgas, Inc. | 92.79 | 93.98 | -1.19 | -1.27% | 119.00 | 86.09 | 74650 | 6926773.5 |
NYSE | AOS | AO Smith Corp. | 69.44 | 69.74 | -0.30 | -0.43% | 77.43 | 45.40 | 75730 | 5258691.2 |
NYSE | FIX | Comfort Systems USA, Inc. | 29.50 | 28.95 | 0.55 | 1.90% | 30.89 | 13.42 | 37390 | 1103005 |
NYSE | DOV | Dover Corp. | 59.80 | 61.32 | -1.52 | -2.48% | 83.55 | 55.50 | 156460 | 9356308 |
NASD | ELON | Echelon Corp. | 0.61 | 0.60 | 0.01 | 1.67% | 2.18 | 0.48 | 44160 | 26937.6 |
NYSE | DD | E. I. DuPont de Nemours & Co. | 56.70 | 48.30 | 8.40 | 17.39% | 76.59 | 47.11 | 904840 | 51304428 |
NYSE | EME | EMCOR Group, Inc. | 45.85 | 46.38 | -0.53 | -1.14% | 48.89 | 39.43 | 62800 | 2879380 |
NYSE | EMR | Emerson Electric Co. | 46.82 | 46.32 | 0.50 | 1.08% | 65.94 | 42.21 | 657140 | 30767294.8 |
NYSE | FCAU | Fiat Chrysler | 16.32 | 14.82 | 1.50 | 10.12% | 17.08 | 8.56 | 1290000 | 21052800 |
NYSE | F | Ford Motor Co. | 15.22 | 14.31 | 0.91 | 6.36% | 16.74 | 10.44 | 3970000 | 60423400 |
NYSE | GM | General Motors Co. | 33.32 | 30.99 | 2.33 | 7.52% | 38.99 | 24.62 | 1570000 | 52312400 |
NYSE | HON | Honeywell International, Inc. | 98.50 | 100.32 | -1.82 | -1.81% | 107.41 | 83.48 | 781760 | 77003360 |
NASD | HDSN | Hudson Technologies, Inc. | 3.30 | 3.12 | 0.18 | 5.77% | 4.80 | 2.45 | 32620 | 107646 |
NYSE | IR | Ingersoll-Rand Plc | 54.25 | 56.48 | -2.23 | -3.95% | 70.93 | 49.74 | 265350 | 14395237.5 |
NYSE | JCI | Johnson Controls, Inc. | 44.21 | 40.94 | 3.27 | 7.99% | 54.52 | 38.48 | 654070 | 28916434.7 |
NYSE | LII | Lennox International Inc. | 117.82 | 123.19 | -5.37 | -4.36% | 126.85 | 73.71 | 45030 | 5305434.6 |
NYSE | LXU | LSB Industries, Inc. | 17.71 | 22.53 | -4.82 | -21.39% | 47.33 | 14.52 | 22790 | 403610.9 |
NYSE | MTW | Manitowoc Co., Inc. | 15.07 | 17.03 | -1.96 | -11.51% | 23.15 | 13.86 | 136590 | 2058411.3 |
NYSE | MLI | Mueller Industries, Inc. | 31.78 | 30.42 | 1.36 | 4.47% | 37.18 | 28.01 | 56990 | 1811142.2 |
NYSE | NWL | Newell Rubbermaid, Inc. | 42.42 | 42.50 | -0.08 | -0.19% | 44.51 | 31.14 | 267800 | 11360076 |
OTC | NSANY | Nissan Motor Co. Ltd. | 20.17 | 18.95 | 1.22 | 6.44% | 21.75 | 16.65 | 2100000 | 42357000 |
NASD | NTK | Nortek, Inc. | 62.80 | 77.90 | -15.10 | -19.38% | 92.96 | 59.21 | 16270 | 1021756 |
NASD | OFLX | OmegaFlex, Inc. | 36.45 | 37.62 | -1.17 | -3.11% | 41.06 | 19.66 | 10090 | 367780.5 |
NYSE | PH | Parker-Hannifin Corp. | 102.37 | 108.17 | -5.80 | -5.36% | 133.41 | 93.47 | 136170 | 13939722.9 |
NYSE | RBC | Regal-Beloit Corp. | 60.83 | 63.84 | -3.01 | -4.71% | 81.36 | 54.51 | 44840 | 2727617.2 |
NYSE | ROK | Rockwell Automation | 105.24 | 106.55 | -1.31 | -1.23% | 127.05 | 98.47 | 134110 | 14113736.4 |
OTC | SIEGY | Siemens Aktiengesellschaft | 96.68 | 96.36 | 0.32 | 0.33% | 120.26 | 87.88 | 822420 | 79511565.6 |
NYSE | SPWC | SPX Corp. | 11.80 | 14.12 | -2.32 | -16.41% | 26.01 | 11.02 | 41100 | 484980 |
NYSE | TXN | Texas Instruments | 52.43 | 48.30 | 4.13 | 8.55% | 59.99 | 42.04 | 1030000 | 54002900 |
NYSE | UTX | United Technologies Corp. | 93.18 | 92.68 | 0.50 | 0.54% | 124.45 | 85.50 | 890600 | 82986108 |
NYSE | WSO | Watsco, Inc. | 126.64 | 123.76 | 2.88 | 2.33% | 132.23 | 87.98 | 27570 | 3491464.8 |
The HVACR Business Stock Index rose 32.35 points, or 2.91 percent, and ended at 1145.52. Advancing issues inched past declining issues at a 17-to-16 count.
Shares of DuPont jumped 8.40 points, or 17.39 percent after the company announced the retirement of Ella Kullman, chair and CEO. Kullman, CEO since 2009, is succeeded by interim CEO Edward Breen, member of DD's board of directors. Citi analyst P.J. Juvekar upgraded DuPont to "buy" from "neutral" and increased its price target to $63, from $58. DD ended at 56.70, and was the top dollar and percentage gainer.
Nortek has ended its review of strategic objectives and said it has decided to end discussions to sell the company. The company also announced it has acquired the HVAC distribution business Phoenix Wholesale, which was funded by available cash. The purchase is expected to generate between $15 million to $20 million in revenue over the next year. NTK tumbled 15.10 points, or 19.38 percent, and was the top dollar loser. Nortek closed at 62.80.
Texas Instruments rose 4.13 points, or 8.55 percent. TXN upped its dividend and announced a stock buy-back program. TXN increased its dividend by 12 percent, to $0.38 per share. The $7.5 billion share repurchase program was given no firm deadlines, but noted that the purchases will be made "over time." Texas Instruments ended at 52.43.
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.