Worst Performing Industries For August 8, 2016
The Dow fell 0.09 percent to 18,527.72, while the NASDAQ composite index declined 0.32 percent to 5,204.61. The broader Standard & Poor's 500 index slipped 0.13 percent to 2,180.14.
The worst performing industries in the market today are:
- Dairy Products: This industry slipped 4.4 percent by 11:00 am. The worst stock within the industry was Dean Foods Co (NYSE: DF), which fell 5 percent. Dean Foods reported weaker-than-expected quarterly earnings.
- Drug Manufacturers - Other: This industry declined 3.4 percent by 11:00 am with Novo Nordisk A/S (ADR) (NYSE: NVO) moving down 4.7 percent. Bank of America downgraded Novo-Nordisk from Buy to Neutral.
- Building Materials Wholesale This industry fell 1.6 percent by 11:00 am ET. Louisiana-Pacific Corporation (NYSE: LPX) shares dropped 1.9 percent in today's trading. Louisiana-Pacific shares have surged 22.36 percent over the past 52 weeks, while the S&P 500 index has gained 3.74 percent in the same period.
- Long Distance Carriers: The industry dropped 1.2 percent by 11:00 am. The worst performer in this industry was Elephant Talk Communications Corp (NYSE: ETAK), which declined 6 percent.
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