A Group of US Stocks that made Unusual Moves Friday
$DD, $DOW, $IBM, $AA, $X, $NE
HeffX-LTN tracked some unusual moves in the following stocks which played at part in the “why” the US market did not move higher Friday:
E. I. du Pont de Nemours and Company (NYSE:DD) was down 1.9% to 67.66. The driving force here was that the EU opens an antitrust probe on the Dow Chemical and DuPont merger that is pending.
Dow Chemical Company (NYSE: DOW) was down 2.4% at 52.33 Friday.
International Business Machines Corporation (NYSE:IBM) was down 1% at 161.95 after the close. One of IBM’s big problems is that the turnaround is elusive, yet the stock is 8.00+ higher than the analysts’ consensus price target.
Alcoa Inc. (NYSE:AA) reflect a lack of enthusiasm in the base metals sector. The shares closed down 2.4% at 10.17 Friday. This was proven by United States Steel Corp. (NYSE:X), which closed down 7.1% at 21.06 Friday. Also, ArcelorMittal, Freeport, Vale and others closed lower on confirmation.
Noble Corporation plc (NYSE:NE) hit the 52-week low list again Friday. This may not represent the Oil & Gas services sector as a whole, but that issue closed down 6.7% at 6.41 on Friday, and the new 52-wk trading range low is now 6.33. Noble’s 14.7-M shares was almost 2X its normal volume
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