The Dow's 3 Biggest Losers
Today was a solid day for the market, with all three major indices closing up. The Dow Jones Industrial Average (INDEX: ^DJI) spent the whole day in positive territory, finishing up 0.56% The S&P 500 (INDEX: ^GSPC) and Nasdaq (INDEX: ^IXIC) were bigger gainers on the day, with advances of 0.89% and 0.97%, respectively. The Dow is now at its highest close since the last week of July.
While most of the Dow's 30 companies were positive on the day, there were seven that ended the day in the red. General Electric (NYS: GE) was the one of biggest Dow losers, ending down 0.74%. Fellow international conglomerate Siemens sounded a cautious tone on its full-year earnings because of global "headwinds," and Philips issued its own warning of soft profits because of weak European markets. Considering GE is so exposed to the European and global economies, these events may have helped spook investors.
Cisco Systems (NAS: CSCO) also ended the day down 0.74%, while consumer-goods giant Procter & Gamble made its way on the losers list as well, closing down 0.47%.
Outside the Dow, WebMD had one of the worst days, losing more than 28%. The company announced two decisions that investors didn't seem to take kindly to. First, CEO Wayne Gattinella announced that he had resigned, and then the company said it has decided to end exploring a possible sale. Finally, luxury jeweler Tiffany lost more than 10% after announcing weak holiday sales and cutting its yearly earnings guidance.
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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 Cisco Systems and has created a bull call spread position on Cisco Systems.Motley Fool newsletter serviceshave recommended buying shares of Cisco Systems and Procter & Gamble. 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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