3 S&P 500 Stocks Down In Light Of New Laws, Earnings Reports
The S&P 500 (NYSEARCA:SPY) is down by 0.15% today and stands at 1,342. These three stocks are getting slammed on bad news.
Federated Investors Inc. (NYSE:FII): In an effort to stabilize the money markets, the SEC intends to place new rules on mutual funds. Specifically, they must set aside capital reserves in case of an emergency, and investors will be less likely to withdraw funds all at once. CEP Christopher says he will fight the decision. FII shares recently traded at $17.72, down $0.93, or 4.99%. They have traded in a 52-week range of $14.36 to $28.23. Volume today was 1,174,381 shares versus a 3-month average volume of 2,156,060 shares. The company’s trailing P/E is 12.20, while trailing earnings are $1.45 per share.
Unum Group Common Stock (NYSE:UNM): In yesterday’s post-trading earnings report, Q4 EPS beat expectations but revenues were flat with expectations. Standard and Poor’s has downgraded the company. S&P says its not related to to Unum’s decision to leave the long-term care insurance business. UNM shares recently traded at $22.76, down $0.89, or 3.76%. They have traded in a 52-week range of $19.72 to $27.16. Volume today was 3,527,469 shares versus a 3-month average volume of 2,754,970 shares. The company’s trailing P/E is 7.92, while trailing earnings are $2.86 per share.
Leggett & Platt Inc. (NYSE:LEG) announced yesterday that Q4 profits declined six cents a share, as a consequence of restructuring. LEG shares recently traded at $22.21, down $1.18, or 5.04%. They have traded in a 52-week range of $17.80 to $26.95. Volume today was 2,046,556 shares versus a 3-month average volume of 1,640,910 shares. The company’s trailing P/E is 18.56, while trailing earnings are $1.19 per share.
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