Market Overview

Worst Performing Industries For May 18, 2016

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The Dow rose 0.14 percent to 17,553.85, while the NASDAQ composite index climbed 0.59 percent to 4,743.39. The broader Standard & Poor's 500 index gained 0.20 percent to 2,051.22.

The worst performing industries in the market today are:

Meat Products: This industry slipped 2.2 percent by 11:00 am. The worst stock within the industry was Hormel Foods Corp (NYSE: HRL), which fell 6.5 percent. Hormel Foods reported Q1 earnings of $0.40 per share on revenue of $2.30 billion. The company expects FY16 earnings of $1.56 to $1.60 per share. Hormel also announced the acquisition of Justin's, LLC.

Electronics Stores: This industry declined 2 percent by 11:00 am with Best Buy Co Inc (NYSE: BBY) moving down 2.7 percent. Best Buy shares have dropped 5.60 percent over the past 52 weeks, while the S&P 500 index has declined 3.70 percent in the same period.

Drug Delivery: This industry fell 1.7 percent by 11:00 am ET. Acura Pharmaceuticals, Inc. (NASDAQ: ACUR) shares dropped 1.6 percent in today's trading. Acura Pharmaceuticals shares have tumbled 39.75 percent over the past 52 weeks, while the S&P 500 index has slipped 3.70 percent in the same period.

Discount, Variety Stores: The industry dropped 1.4 percent by 11:00 am. The worst performer in this industry was Target Corporation (NYSE: TGT), which declined 8.6 percent. Target reported better-than-expected earnings for its first quarter, but comparable sales missed expectations.

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

 

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