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Techs End Strong, Other Markets Falter

Originally published: 09.01.14 by Margot Crabtree


turbulent session ended in mostly negative terrain as geopolitical pressures joined with variable economic data. As our trading session ended August 15, 2014, the sell-off moderated but only the technology sector remained in positive terrain.

Despite starting out strong, markets headed south by the end of July, and the S&P entered August with its largest weekly loss since 2012. Argentine debt was the initial front-runner in global pressure. Portugal's troubled Banco Espirito Santo tumbled 40 percent after reporting its loss for the second quarter. 

The U.S. added 209,000 jobs in July, but fewer in that month than in the previous three months. The Thomson Reuters/University of Michigan
final consumer sentiment index for July was 81.8, from the June reading of 82.5 and below the estimate of 82. Factory orders grew beyond expectations, up 1.1 percent versus the 0.6 forecast. 

Things improved in our last week, but the Ebola outbreak in Africa and tensions in Gaza kept the pressure on. The Federal Reserve said that manufacturing production gained 1 percent in July compared to June, and June's was revised slightly higher, to a 0.3 percent rise. 

Retail sales were soft in July, however, the weakest since January. 

"Consumers are finding they can live


without a lot of the stuff they used to buy automatically," said Joel Naroff, president of Naroff Economic Advisors. "Right now, people are just not parting with their hard-earned funds."

Exchange
Symbol
Company Name
Price
7/15/14
Price
6/15/14
Net
Change
Percent
Change
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 18.54 21.32 -2.78 -13.04% 23.09 15.43 55010 1019885.4
NYSE ABB ABB Ltd. 22.62 22.77 -0.15 -0.66% 27.25 21.31 2290000 51799800
NYSE ARG Airgas, Inc. 108.42 109.76 -1.34 -1.22% 113.16 99.32 74530 8080542.6
NYSE AOS AO Smith Corp. 48.20 47.64 0.56 1.18% 55.18 41.31 90030 4339446
NYSE FIX Comfort Systems USA, Inc. 14.65 15.55 -0.90 -5.79% 20.95 13.28 37710 552451.5
NYSE DOV Dover Corp. 87.38 88.12 -0.74 -0.84% 91.84 67.78 166550 14553139
NASD ELON Echelon Corp. 2.05 2.33 -0.28 -12.02% 4.18 1.77 43540 89257
NYSE DD E. I. DuPont de Nemours & Co. 65.25 64.58 0.67 1.04% 69.75 56.09 915240 59719410
NYSE EME EMCOR Group, Inc. 41.58 44.09 -2.51 -5.69% 48.00 36.26 67030 2787107.4
NYSE EMR Emerson Electric Co. 62.97 67.50 -4.53 -6.71% 70.66 60.14 697920 43948022.4
NYSE F Ford Motor Co. 17.31 17.54 -0.23 -1.31% 18.12 14.40 3930000 68028300
NYSE GM General Motors Co. 33.84 37.58 -3.74 -9.95% 41.85 31.70 1600000 54144000
NYSE HON Honeywell International, Inc. 94.23 95.96 -1.73 -1.80% 98.09 78.88 782540 73738744.2
NASD HDSN Hudson Technologies, Inc. 2.79 3.08 -0.29 -9.42% 4.00 1.75 32030 89363.7
NYSE IR Ingersoll-Rand Plc 60.55 61.59 -1.04 -1.69% 64.77 47.06 267510 16197730.5
NYSE JCI Johnson Controls, Inc. 47.33 50.93 -3.60 -7.07% 52.50 39.42 666080 31525566.4
NYSE LII Lennox International Inc. 84.05 87.40 -3.35 -3.83% 94.69 67.56 48570 4082308.5
NYSE LXU LSB Industries, Inc. 38.87 37.56 1.31 3.49% 42.41 29.39 22600 878462
NYSE MTW Manitowoc Co., Inc. 27.54 31.63 -4.09 -12.93% 33.50 18.12 135300 3726162
NYSE NWL Newell Rubbermaid, Inc. 33.28 31.56 1.72 5.45% 33.71 24.32 273800 9112064
NYSE MLI Mueller Industries, Inc. 28.84 28.03 0.81 2.89% 32.13 26.50 56710 1635516.4
OTC NSANY Nissan Motor Co. Ltd. 19.39 19.46 -0.07 -0.36% 21.33 16.45 2100000 40719000
NASD OFLX OmegaFlex, Inc. 17.65 19.41 -1.76 -9.07% 24.99 15.93 10090 178088.5
NYSE PH Parker-Hannifin Corp. 112.78 123.49 -10.71 -8.67% 130.44 99.75 148970 16800836.6
NYSE RBC Regal-Beloit Corp. 70.50 77.93 -7.43 -9.53% 80.41 62.93 45180 3185190
NYSE ROK Rockwell Automation 114.29 123.24 -8.95 -7.26% 128.57 96.20 137870 15757162.3
OTC SIEGY Siemens Aktiengesellschaft  122.02 125.34 -3.32 -2.65% 139.28 105.68 841860 102723757.2
NYSE SPW SPX Corp.  101.42 106.68 -5.26 -4.93% 111.47 73.15 42560 4316435.2
NYSE TXN Texas Instruments 47.56 48.66 -1.10 -2.26% 49.77 38.00 1070000 50889200
NYSE UTX United Technologies Corp. 105.63 114.84 -9.21 -8.02% 120.66 99.50 914810 96631380.3
NYSE WSO Watsco, Inc. 92.36 98.54 -6.18 -6.27% 105.39 86.98 32300 2983228

 

The HVACR Business Stock Index slid 53.88 points, or 4.08 percent, and closed at 1266.34. Declining issues flattened advancing issues by a 26-to-5 count.

Parker Hannifin shares tumbled, although second quarter profit rose 11 percent. PH earned $301.2 million, or $1.98 per share, versus $271.1 million, or $1.78 per share in the same quarter last year. Revenue was up 3 percent to $3.53 billion. On an adjusted basis, earnings were $2.06 per share; analysts expected earnings of $2.07 per share and $3.57 billion in revenue. PH also guided lower for the year. PH fell 10.71 points, or 8.67 percent and was the top dollar loser. PH closed at 112.78.

Newell Rubbermaid bested estimates and posted a 37 increase in second-quarter profit. NWL earned net income of $150.6 million, or $0.54 per share, versus net income of $109.8 million, or $0.37 per share in the year-ago quarter. Net sales were $1.52 billion, from last year's $1.47 billion. Adjusted income was $0.59 per share, compared to the Zacks consensus average of $0.54 per share. NWL cited stronger sales volume. NWL rose 1.72 points, or 5.45 percent, and closed at 33.28. Newell Rubbermaid was the top dollar and percentage gainer.

United Technologies fell 9.21 points, or 8.02 percent this session. Second quarter net income was $1.68 billion, or $1.84 per share, compared to net income of $1.56 billion, or $1.71 per share last year. Revenue was up 7 percent, to $17.2 billion. Analysts expected earnings of $1.71 per share. 

"A little bit slower order growth may have spooked some people," said Edward Jones analyst Christian Mayes. "We have had strong growth the last few quarters and it slowed down a bit." 

UTX closed at 105.63.  


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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