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Market Overview

Worst Performing Industries For February 22, 2016

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The Dow rose 1.17 percent to 16,584.26, while the NASDAQ composite index gained 1.30 percent to 4,562.94. The broader Standard & Poor's 500 index gained 1.22 percent to 1,941.17.

The worst performing industries in the market today are:

Drug Related Products: This industry declined 3.8 percent by 11:00 am with Perrigo Company plc (NYSE: PRGO) moving down 4.5 percent. Goldman Sachs downgraded Perrigo from Neutral to Sell and lowered the price target from $160.00 to $124.00.

Dairy Products: This industry fell 3.4 percent by 11:00 am ET. Dean Foods Co (NYSE: DF) shares dropped 4.6 percent in today's trading. Dean Foods reported better-than-expected profit for its fourth quarter and issued a strong forecast for the current quarter. However, the company missed analysts' sales estimates.

Investment Brokerage - Regional: The industry dropped 0.7 percent by 11:00 am. The worst performer in this industry was Stifel Financial Corp (NYSE: SF), which declined 8 percent. Credit Suisse downgraded the rating for Stifel Financial from Neutral to Underperform, while reducing the price target from $44 to $27.

Grocery Stores: This industry slipped 0.4 percent by 11:00 am. The worst stock within the industry was Fairway Group Holdings Corp (NASDAQ: FWM), which fell 5.3 percent. Fairway Group shares have declined 93.05 percent over the past 52 weeks, while the S&P 500 index has dropped 9.10 percent in the same period.

 

Related Articles (PRGO + DF)

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

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