Market Overview

Worst Performing Industries For November 4, 2014

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The Dow dropped 0.30% to 17,314.67, while the NASDAQ composite index slipped 0.82% to 4,600.90. The broader Standard & Poor's 500 index fell 0.72% to 2,003.39.

The worst performing industries in the market today are:

Diversified Communication Services:

The industry dropped 3.97% by 11:50 am. The worst performer in this industry was Sprint (NYSE: S), which declined 16.7%. Sprint posted a wider-than expected second-quarter loss and warned of higher costs in the current period. The company announced its plans to cut its work force by an additional 2,000 positions.

Gas Utilities:

This industry fell 3.64% by 11:50 am ET. Summit Midstream Partners LP (NYSE: SMLP) shares dropped 5.1% in today's trading. Summit Midstream is expected to report Q3 financial results on November 6, 2014.

Savings & Loans:

This industry tumbled 3.15% by 11:50 am. The worst stock within the industry was Berkshire Hills Bancorp (NYSE: BHLB), which fell 3.9%. erkshire Hills Bancorp and Hampden Bancorp (NASDAQ: HBNK) have signed a definitive merger agreement under which Berkshire will acquire Hampden and its subsidiary, Hampden Bank, in an all-stock transaction valued at around $109 million.

Recreational Goods, Other:

This industry declined 2.64% by 11:50 am, with Tuniu (NASDAQ: TOUR) moving down 3.6%. Tuniu is expected to report Q3 financial results on November 11, 2014.

Posted-In: Worst Performing IndustriesNews Movers & Shakers Intraday Update Markets

 

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