Dogs of the Dow Drag Market Below 12,000
The Dow (NYSE:DIA) is entering the dog days of summer and the 12,000 mark has been breached. These five companies are leading the market’s downward tailspin today, all off by larger margins than the Dow.
1) JP Morgan Chase (NYSE:JPM): Jamie Dimon’s public gripe with Bernanke has not played out well for the company’s stock prices today as JPM shares have slid -1.70% in trading.
2) Pfizer (NYSE:PFE): Pharmaceutical company and leading drug maker’s shares tanking today, down -2.4% at last price check.
3) Caterpillar (NYSE:CAT): Mining giant unable to sustain yesterday’s gains in spite of recent news that it plans to hike shareholder dividends, shares slump over -2.35% in early trading.
4) American Express (NYSE:AXP): Credit Card leader AMEX seeing shares off-track in early trading, down -1.5%, on heels of news that credit-card sector will be hit hard by next set of Dodd-Frank regulations that will limit debit card fees.
5) The Boeing Company (NYSE:BA): The brand name airplane producer has seen shares lose -1.42% in trading so far, as recent bad news for Airliners from IATA featuring lower traffic numbers and projected slow growth in 2011 begins to take toll on parts manufacturers.