3 Losers That Missed Today's Rally
Even on a day like today, when all of the major markets seem to be rising in unison, there have to be a few companies that missed the memo and underperformed for the day. Over on the Dow Jones Industrial Average (INDEX: ^DJI) , there were only four companies that put up negative numbers for the day: Home Depot (NYS: HD) , General Electric (NYS: GE) , United Technologies (NYS: UTX) , and Pfizer.
Here's a look at how the broad markets fared, as well an overview of each of the three companies putting up the worst losses today.
Gain / Loss
Gain / Loss %
|Dow Jones Industrial Average||+52.45||+0.40||13,264|
Some of the big news peppering the markets today includes Groupon's (NAS: GRPN) 17% plunge on news that the company revised reported revenue for the fourth quarter. This isn't the only accounting gaffe at the Internet start-up, as it had to restate revenue back in September for booking more than its legitimate stake of revenue.
Also flooding the airwaves is Avon's spurning of a buyout offer from fragrance maker Coty. The latter company put up an unsolicited offer for $10 billion, which makes sense given its recent trend of acquisitions. Avon has rejected the offer, saying it undervalues the company.
Although there were only a handful of Dow stocks in the red today, here they are:
- Home Depot put up the biggest loss today, closing down 0.64%. This isn't a big drop in the grand scheme of things, and the company is still up an impressive 19% for the year. Mixed housing data recently wouldn't seem to favor the company much, but it's in a much better position than it was a few years ago. Toss into the mix the fact that it has an incredibly strong brand in the retail industry and has made a recent acquisition that boosts its online presence, and the case for Home Depot over the long haul becomes stronger.
- United Technologies and General Electric were tied for second worst-performing stock today, each closing down 0.25%. Again, this isn't a huge move, and there isn't any starkly negative news out about either company, and I'm very bullish on both of them in the long run. United Technologies' recent acquisition of Goodrich should be a huge boon in the long run, and as GE Capital rises from the ashes on the back of an improving economy, the company should be able to fill the roughly $20 billion revenue hole the implosion has left.
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At the time this article was published Austin Smith owns shares of Pfizer.Motley Fool newsletter serviceshave recommended buying shares of Pfizer and Home Depot. The Motley Fool has adisclosure policy. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
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