Johnson Controls Down 8% on Earnings and 2 More S&P 500 Losers
The S&P 500 (NYSEARCA:SPY) is up by 0.39% today and stands at 1,313. Here are three notable stocks that are experiencing large declines today.
Johnson Controls (NYSE:JCI): Revenues came in less than expected by 1%, and earnings came in at $0.60, or two cents short. The stock is getting punished pretty hard. The FQ1 report makes the case that the Japanese tsunami had a huge disruption on Johnson Controls’ automotive business, and if this is the case, this may present a buying opportunity. Johnson Controls is down 8.40%.
The Force is not strong with Electronic Arts Inc. (NASDAQ:EA) today. An analyst with Brean Murray Carret and Co. cut the price target of EA from $28 to $22. Sales of the online multi-player “Star Wars: The Old Republic” are failing to meet expectations. EA is down 2.57%.
UnitedHealth Group, Inc. (NYSE:UNH): Even though this insurer beat expectations for revenue and earnings per share for the 4th quarter, UnitedHealth is down along with the rest of the managed care industry. The company did strike a cautious tone for 2012, but the real culprit for the decline was that the market had rejected the low bar that UnitedHealth had established in its forecast. UnitedHealth is down 3.11%.