Worst Performing Industries For October 23, 2014

The Dow surged 1.36% to 16,685.03, while the NASDAQ composite index rose 1.52% to 4,449.29. The broader Standard & Poor's 500 index gained 1.26% to 1,951.30. The worst performing industries in the market today are:

Sporting Goods Stores:

The industry dropped 3.19% by 11:05 am. The worst performer in this industry was Cabela's

CAB

, which declined 9.5%. Cabela's reported weaker-than-expected Q3 results and issued a downbeat FY14 outlook.

Grocery Stores:

This industry fell 1.33% by 11:05 am ET. QKL Stores

QKLS

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shares dropped 7% in today's trading. QKL Stores shares have dropped 18.77% over the past 52 weeks, while the S&P 500 index has gained 9.99% in the same period.

Telecom Services - Domestic:

This industry tumbled 1.18% by 11:05 am. The worst stock within the industry was AT&T

, which fell 2.6%. AT&T reported downbeat third-quarter earnings and lowered its FY sales growth outlook.

Foreign Utilities:

This industry declined 0.89% by 11:05 am, with CPFL Energia S.A.

CPL

moving down 4.1%. CPFL Energia's PEG ratio is 2.53.