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The Dow dropped 0.80% to 18,058.37, while the NASDAQ composite index fell 0.65% to 4,947.50. The broader Standard & Poor's 500 index declined 0.77% to 2,091.59.
The worst performing industries in the market today are:
Foreign Utilities: This industry tumbled 2.5% by 11:00 am. The worst stock within the industry was
CPFL Energia S.A. CPL, which fell 5.2%. CPFL Energia's PEG ratio is 5.51.
Healthcare Information Services: This industry fell 2.1% by 11:00 am ET.
Veeva Systems Inc. VEEV shares dropped 24.5% in today's trading. Veeva Systems reported Q4 earnings of $0.12 per share on revenue of $87 million and announced its intent to acquire the key opinion leader (KOL) business and products known as Qforma CrowdLink. Deutsche Bank downgraded Veeva Systems from Buy to Hold.
Foreign Regional Banks: This industry declined 2% by 11:00 am with
Banco Bradesco S.A.BBDO moving down 4%. Banco Bradesco shares have gained 4.40% over the past 52 weeks, while the S&P 500 index has surged 12.49% in the same period.
Meat Products: The industry dropped 1.9% by 11:00 am. The worst performer in this industry was
BRF S.A. BRFS, which declined 4.7%. BRF's trailing-twelve-month EPS is $0.88.
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