Worst Performing Industries For January 27, 2015
The Dow dropped 1.92% to 17,339.33, while the NASDAQ composite index fell 1.75% to 4,688.30. The broader Standard & Poor's 500 index slipped 1.36% to 2,029.19.
The worst performing industries in the market today are:
Processing Systems & Products: This industry fell 4.42% by 11:20 am ET. Plantronics, Inc. (NYSE: PLT) shares dropped 12.7% in today's trading. Plantronics reported downbeat Q3 earnings and issued a weak Q4 forecast.
Diversified Computer Systems: This industry tumbled 4.16% by 11:20 am. The worst stock within the industry was Hewlett-Packard Company (NYSE: HPQ), which fell 4.4%. Hewlett-Packard shares have jumped 33.93% over the past 52 weeks, while the S&P 500 index has gained 14.76% in the same period.
Business Software & Services: This industry declined 3.72% by 11:20 am with Microsoft Corporation (NASDAQ: MSFT) moving down 9.9%. Microsoft posted in-line fiscal second-quarter results. For the third quarter, the company also expected a slight sequential decline in its commercial licensing sales. Analysts at JP Morgan downgraded Microsoft from Overweight to Neutral and lowered the price target from $53 to $47.
Farm & Construction Machinery: The industry dropped 3.52% by 11:20 am. The worst performer in this industry was Caterpillar Inc. (NYSE: CAT), which declined 7.2%. Caterpillar reported weaker-than-expected earnings for the fourth quarter and issued a weak forecast for 2015.
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