The Dow's 3 Biggest Losers Today
Today was another relatively flat day for the market, with all three major indices closing in positive territory. The Dow Jones Industrial Average (INDEX: ^DJI) led the charge, finishing up 0.27%, while the S&P (INDEX: ^GSPC) and Nasdaq (INDEX: ^IXIC) gained 0.23% and 0.09%, respectively.
While most of the Dow's 30 companies were positive on the day, there were seven that ended the day in the red. Microsoft (NAS: MSFT) was the biggest Dow loser, ending down 1.30%. The company is making headlines during its last appearance at the International Consumer Electronics Show (CES), the major trade show that is often used for new product announcements. Microsoft CEO Steve Ballmer joined Nokia CEO Stephen Elop to unveil Nokia's Lumina 900 Windows Phone at the conference today. Microsoft enjoyed an 8% bump last week.
The other two biggest Dow losers on the day were McDonald's (NYS: MCD) and IBM, down 0.95% and 0.52%, respectively. McDonald's has seen a slight pullback in its stock price this year after a blistering 2011. The company finished last year up more than 30%, buoyed by strong same-store sales (even in Europe) and a November dividend increase.
Outside the Dow, there were some bigger losers. Zynga continued its drop after a report last week from the Macquarie Group, which highlighted concerns that the company is not well diversified. The company lost more than 9% today. Chinese online game developer Perfect World ended the day down over 26% after a report on a Chinese blog of rumors that the company was being investigated by regulators. The blog has since removed the story and the company has denied the allegations, but the damage was done. Perfect World will certainly be an interesting one to watch tomorrow.
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At the time this article was published Brendan Byrnes owns no shares of any company mentioned above. The Motley Fool owns shares of Microsoft and IBM.Motley Fool newsletter serviceshave recommended buying shares of Microsoft and McDonald's and creating a bull call spread position in Microsoft. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
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