As concerns over the coronavirus (also referred to as COVID-19) continue to dominate news headlines, cause volatility in the marketplace, and test investor confidence in securities markets, one thing remains unchanged - Leigh Baldwin & Co. and its commitment to assist clients through turbulent times. Along with the securities markets, we remain open and available to clients, ready to assist with any needs, questions, or concerns as they arise.
U.S. stocks opened steeply lower on Thursday with eBay among the companies offering disappointing outlooks. The Dow Jones Industrial Average fell 79 points to 11,045. The S&P 500 Index declined 12 points to 1,193. The Nasdaq Composite shed 27 points to 2,477. A couple hundred earnings reports to go through this morning. A number of stocks are sharply lower following earnings including Ebay, Qualcomm, Janus, Peabody Energy, Union Pacific, Southwest Air, Kimberly Clark, Verizon, Pepsi, Philip Morris, Diamond Offshore, Fifth Third, Continental, Nokia, Blackstone, Nucor, NY Times, Sybase, Cypress Semi, Briggs & Stratton, and BB&T. In other words, most stocks and sectors are lower. A few stocks are higher following earnings including Chipotle Mexican Grill, Sallie Mae, Starbucks, Noble Drilling, Netflix, Hershey, Sandisk, Textron, and PNC Financial. Boeing is higher once again following strong earnings yesterday. Regional bank, Huntington Bancshares is higher thanks to an upgrade. And that's about it. After the first half an hour the Dow dropped 90 points while the Nasdaq declined 27 points.
All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.