Market Overview

Worst Performing Industries For October 28, 2016

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The Dow rose 0.16 percent to 18,199.23, while the NASDAQ composite index slipped 0.01 percent to 5,215.69. The broader Standard & Poor's 500 index rose 0.04 percent to 2,133.85.

The worst performing industries in the market today are:

  • Drugs Wholesale: This industry slipped 16 percent by 11:00 am. The worst stock within the industry was McKesson Corporation (NYSE: MCK), which fell 22.5 percent. McKesson reported downbeat earnings for its second quarter and lowered its FY17 earnings outlook.
  • Drug Manufacturers - Other: This industry declined 6.6 percent by 11:00 am with Novo Nordisk A/S (ADR) (NYSE: NVO) moving down 14.4 percent. Novo Nordisk issued a warning on profit forecast for the full year. The company indicated its sales forecast are around 5-6 percent for the full year, while adjusted operating profit is guided between 5-7 percent in local currencies.
  • Computer Peripherals: This industry fell 4.2 percent by 11:00 am ET. Mad Catz Interactive, Inc. (USA) (NYSE: MCZ) shares dropped 5 percent in today's trading. Mad Catz Interactive shares have declined 63.52 percent over the past 52 weeks, while the S&P 500 index has increased 2.04 percent in the same period.
  • Catalog & Mail Order Houses: The industry dropped 4 percent by 11:00 am. The worst performer in this industry was Amazon.com, Inc. (NASDAQ: AMZN), which declined 4 percent. Amazon.com reported weaker-than-expected earnings for its third quarter on Thursday.
 

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