S&P 500 Losers: Charles Schwab Corporation and These 2 Stocks
The S&P 500 (NYSEARCA:SPY) is down by 0.38% today and stands at 1,334.30 Here are three notable stocks that are experiencing large declines today.
The Charles Schwab Corporation (NYSE:SCHW): The fund industry is down as a consequence of new SEC rules that tighten regulations. While the rules are designed to prevent another financial crisis, money-market execs argue that the rules will just hurt the industry, for no constructive benefit. SCHW shares recently traded at $12.40, down $0.3, or 2.36%. They have traded in a 52-week range of $10.56 to $19.69. Volume today was 13,847,884 shares versus a 3-month average volume of 13,131,700 shares. The company’s trailing P/E is 17.71, while trailing earnings are $0.70 per share.
Walgreen Co. (NYSE:WAG): Citi has downgraded Walgreen as a consequence of its conflict with Express Scripts regarding patient coverage. Citi sees no resolution this year: Walgreen has “limited negotiating leverage; and Walgreen’s benefit management rates are above the rates currently seen by employers.” WAG shares recently traded at $33.73, down $0.55, or 1.6%. They have traded in a 52-week range of $30.34 to $47.11. Volume today was 5,791,445 shares versus a 3-month average volume of 9,254,920 shares. The company’s trailing P/E is 11.42, while trailing earnings are $2.96 per share.
Legg Mason Inc. (NYSE:LM) is down with the rest of the mutual fund industry today. The SEC’s rules will make it more difficult for corporations to get lending. LM shares recently traded at $26.91, down $0.37, or 1.36%. They have traded in a 52-week range of $22.61 to $37.82. Volume today was 783,540 shares versus a 3-month average volume of 2,052,020 shares. The company’s trailing P/E is 18.77, while trailing earnings are $1.43 per share.
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