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Choppy Session with Highs, Tumbles and Boredom

Originally published: 08.17.17 by Margot Crabtree


Our month had something for everyone, with record highs mixed in with dizzying drops and sideways spins. As our trading session ended August 15, 2017, tensions over North Korea’s saber rattling spooked markets.

The Commerce Department said that housing starts increased by 8.3 percent in June, after three consecutive monthly declines. However, the July National Association of Home Builders/Wells Fargo builder sentiment index fell to 64, from 66 in June, compared to the 67 from analysts polled by FactSet, the lowest reading since November.

The Commerce Department said that the gross domestic product increased at a 2.6 percent rate in the second quarter, more than double the revised 1.2 percent growth in the first quarter. Durable goods were up 6.5 percent in June, from two consecutive monthly declines.

The Commerce Department said it was the largest increase in almost three years. In a separate report, the Commerce Department reported that factory orders increased 3 percent in June after declines in April and May, pushed by a 131 percent increase in commercial aircraft.

The Conference Board reported that its July consumer confidence index jumped to 121.1, following a June reading of 117.3. The robust job market is credited with the strong numbers. The Dow


reached 22,000 with little fanfare, and as we moved into August, marked its eighth consecutive record close. Jumpy trading increased as the Korean situation heated up.

“The selling never did cascade,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. “We had an adjustment and this week investors were able to sit back and say the Korean situation is something to watch, but it’s probably had its effect on the market already.”

Exchange
Symbol
Company Name
Price
8/15/17
Price
7/14/17
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 32.73 37.50 -4.77 -12.72% 38.20 26.51 52600 1721598
NYSE ABB ABB Ltd. 22.85 25.16 -2.31 -9.18% 25.83 20.26 2130000 48670500
NYSE AOS AO Smith Corp. 54.34 57.44 -3.10 -5.40% 57.97 43.66 146890 7982002.6
NYSE FIX Comfort Systems USA, Inc. 32.60 36.70 -4.10 -11.17% 39.67 26.05 37120 1210112
NYSE DOV Dover Corp. 85.13 84.32 0.81 0.96% 87.63 65.50 155730 13257294.9
NASD ELON Echelon Corp. 4.88 5.00 -0.12 -2.40% 7.20 4.17 4440 21667.2
NYSE DD E. I. DuPont de Nemours & Co. 81.58 84.75 -3.17 -3.74% 86.36 66.02 867810 70795939.8
NYSE EME EMCOR Group, Inc. 65.37 65.03 0.34 0.52% 73.44 54.89 59180 3868596.6
NYSE EMR Emerson Electric Co. 59.41 60.18 -0.77 -1.28% 64.36 49.22 640020 38023588.2
NYSE FCAU Fiat Chrysler 12.67 11.99 0.68 5.67% 12.91 6.05 1540000 19511800
NYSE F Ford Motor Co. 10.84 11.68 -0.84 -7.19% 13.27 10.67 3900000 42276000
NYSE GM General Motors Co. 35.54 36.35 -0.81 -2.23% 38.55 30.13 1470000 52243800
NYSE HON Honeywell International, Inc. 137.42 135.83 1.59 1.17% 140.21 105.25 760570 104517529.4
NASD HDSN Hudson Technologies, Inc. 8.73 9.19 -0.46 -5.01% 10.40 5.21 41540 362644.2
NYSE IR Ingersoll-Rand Plc 86.20 92.83 -6.63 -7.14% 94.39 62.40 253670 21866354
NYSE JCI Johnson Controls, Inc. 37.83 43.87 -6.04 -13.77% 49.83 37.75 932400 35272692
NYSE LII Lennox International Inc. 167.92 183.78 -15.86 -8.63% 192.58 140.97 42180 7082865.6
NYSE LXU LSB Industries, Inc. 6.38 10.85 -4.47 -41.20% 12.68 4.52 28410 181255.8
NYSE MTW Manitowoc Co., Inc. 7.96 4.05 3.91 96.54% 8.40 3.65 140540 1118698.4
NYSE MLI Mueller Industries, Inc. 29.38 30.52 -1.14 -3.74% 43.96 27.72 57630 1693169.4
NYSE NWL Newell Rubbermaid, Inc. 50.21 53.81 -3.60 -6.69% 55.08 43.43 483100 24256451
OTC NSANY Nissan Motor Co. Ltd. 19.97 20.23 -0.26 -1.29% 20.76 18.06 3910000 78082700
NASD OFLX OmegaFlex, Inc. 58.87 68.50 -9.63 -14.06% 70.80 34.62 10090 593998.3
NYSE PH Parker-Hannifin Corp. 158.19 165.06 -6.87 -4.16% 167.50 118.77 133180 21067744.2
NYSE RBC Regal-Beloit Corp. 78.55 84.15 -5.60 -6.65% 87.50 56.45 44810 3519825.5
NYSE ROK Rockwell Automation 164.12 167.34 -3.22 -1.92% 167.97 111.52 128360 21066443.2
OTC SIEGY Siemens Aktiengesellschaft  64.66 69.17 -4.51 -6.52% 73.42 55.73 1620000 104749200
NYSE SPXC SPX Corp.  25.30 27.57 -2.27 -8.23% 29.25 15.49 42520 1075756
NYSE TXN Texas Instruments 81.96 82.00 -0.04 -0.05% 84.65 66.30 990040 81143678.4
NYSE UTX United Technologies Corp. 115.96 123.41 -7.45 -6.04% 124.79 97.62 798770 92625369.2
NYSE WSO Watsco, Inc. 147.85 150.83 -2.98 -1.98% 159.55 128.60 27480 4062918

 

 
Price 8/15/17
Price 7/14/17
Net Change
Percent Change
HVACR Business Stock Index 1,460.45 1,525.06 -64.62 -4.24%
Dow Jones Industrial Average 21,998.99 21,637.74 361.25 1.67%
S&P 500 Index 2,464.61 2,459.27 5.34 0.22%
NASDAQ Composite 6,333.01 6,312.47 20.54 0.33%

 

Gainers/Losers
$ Gainer Manitowoc Co., Inc. 3.91
$ Loser Lennox International Inc. -15.86
 
% Gainer Manitowoc Co., Inc. 96.54%
% Loser LSB Industries, Inc. -41.20%
 
Advancers 5
Decliners 26

 

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.

Despite besting analysts’ expectations for second quarter results, Lennox tumbled 15.86 points, or 8.63 percent. LII said it earned $115.5 million, or $2.69 per share. Adjusted for one-time items, Lennox earned $2.83 per share. Revenue was $1.1 billion. Analysts polled by Zacks expected earnings of $2.76 per share and revenue of $1.09 billion. Lennox closed at 167.92, and was the top dollar loser.

Manitowoc jumped 3.91 points, or 96.54 percent after swinging from a loss. MTW beat forecasts on earnings, but fell short on revenue. For its second quarter, Manitowoc reported net income of $500,000, or less than $0.01 per share. Adjusted for one-time items, MTW earned $0.05 per share. Revenue was $394.6 million.

Analysts polled by Zacks expected a loss of $0.03 per share and revenue of $401.5 million. Manitowoc closed at 7.96, and was our top dollar and percentage gainer.

LSB Industries swung to a loss for its second quarter, reporting a loss of $7 million, or $0.53 per share. Revenue was $122.9 million. LXU’s board of directors reported that it’s decided to terminate the sale portion of its strategic review, saying that it has not been provided with options that are in the best interests of its shareholders. LXU shed 4.47 points, or 41.20 percent, and closed at 6.38. It was the top percentage 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.

 

 




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