The Dow closed down -35.79 (-0.26%) at 13,982.91. It just couldn’t hang on to 14,000.
Cisco Systems Inc. (CSCO) reported earnings of $3.1 billion, or 59 cents per share during the quarter ending Jan. 26. That represented a 44 percent increase from $2.2 billion, or 40 cents per share, in the previous year. Results were boosted big from tax benefits and credits totaling $926 million, or 17 cents per share. However, even without those one-time gains, the company earnings still would have been slightly better than the previous year. Excluding extras, the company earned 50 cents per share, 2 cents per share above the average estimate of $0.48. Revenue was up 5 percent to $12.1 billion, in line with forecasts.
General Electric (GE) was the best performing Dow stock. Shares rose 3.59% after the industrial conglomerate annnounced late Tuesday it would sell its remaining stake in NBCUniversal to cable company Comcast (CMCSA).
There were 18 Dow stock winners today, led by GE (+3.59%), CSCO (+0.81%), AA (+0.78%), PG (+0.76%) and MSFT (+0.54%).
Dow stock losers were led by MCD (-1.16%), BA (-0.96%), JPM (-0.94%), KO (-0.93%) and MRK (-0.72%).
I did a survey of the 30 Dow stock charts and here’s what I found.
These 15 Dow stocks were at or near 52 week highs; CVX, MMM, UTX, XOM, TRV, PG, JNJ, HD, AXP, DIS, JPM, PFE, GE, CSCO and BAC.
These 11 Dow stocks were doing okay this year; CAT, MCD, IBM, BA, WMT, UNH, DD, VZ, T, HPQ and AA.
These 4 Dow stocks aren’t doing as well as the other Dow stocks, MRK, KO, MSFT and INTC.