The 4 Worst Dow Performers This Week
4) IBM (NYSE:IBM)
IBM closed the week off 1.22 percent with relatively few catalysts. On the company’s radar was a court hearing over the logic that governs technology patents. Patent law, already nebulous and abstract, is a critical component in the technology sector, highlighted by high-profile multi-billion-dollar cases between industry titans. For the past 20 years, IBM has led the industry in patent applications, and the Friday hearing could change the architecture surrounding what technology is patentable and what technology is not.
Also last week, IBM closed its acquisition of StoredIQ.
3) Intel (NASDAQ:INTC)
Intel closed the week 1.5 percent worse for the wear. On the radar this week is Intel’s $6.5 million venture funding contribution to Big Switch Networks, a software-defined networking company. Intel could be looking to take advantage of the coming commodification of network gear by forming a strategic relationship with key up-and-coming players early on.
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2) Pfizer (NYSE:PFE)
Pfizer’s 27 percent year-over-year rally lost a little bit of steam last week, with the stock closing the five-day period down 1.79 percent. Strong gains in the previous week helped the Dow push through 14,000, but the bears are slowly waking up from their winter hibernation. News that the company will be pulling as much as $1 billion from clinical research programs overseas helped fuel the company’s week-end decline.
1) Caterpillar (NYSE:CAT)
Caterpillar’s 1.88 percent loss for the week came primarily from news on Thursday that showed U.S. productivity fell about 2 percent during the fourth quarter. Sensitive as it is to economic catalysts, and already primed for pessimism given a recent earnings hit, investors pulled back as concerns that global economic conditions are not yet strong enough to warrant a recovery in the company’s performance.
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