U.S. markets continued to tumble Friday on concerns of slowing global growth. The Dow Jones Industrial Average dropped 318.24 points, down 3.5 percent for the week and its worst weekly loss since 2011. The S&P 500 Index declined 2.09 percent to close at 1,790.29, down 2.6 percent for the week and its worst weekly loss since June 2012. "There's a lack of buyers supporting the market and incremental sellers who are de-risking on the back of the macro developments," said Doug Crofton, head of U.S. cash equity trading at Bank of America Merrill Lynch. "I don't think the market was positioned for the recent events.
Honeywell International Inc. (NYSE: HON) shares traded in the range of $88.43 to $90.91 Friday before settling to close at $88.47, a decrease of 1.48 percent. The stock appears to be facing some resistance at the $88.94 and $90.03 levels with some support at $87.59. The company reported sales were $39.1 billion for the full year 2013, an increase of 4.0 percent when compared to a year ago. Shares of Honeywell International have gained approximately 30.0 percent in the past year.
More information on Honeywell International and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HON
International Game Technology (NYSE: IGT) shares traded in the range of $15.01 to $16.20 Friday before settling to close at $15.04, a decrease of 14.79 percent. The stock appears to be facing some resistance at the $88.94 and $90.03 levels with some support at $87.59. The company reported earnings of $0.25 a share for the first quarter of fiscal 2014, which was short of analysts’ estimates of $0.30 a share. Shares of International Game Technology have gained approximately 30.0 percent in the past year.
More information on International Game Technology and access to the free equity report can be found at:
www.WallStreetFundamentals.com/IGT
Starbucks Corporation (NASDAQ: SBUX) shares traded in the range of $74.11 to $76.16 Friday before settling to close at $74.98, an increase of 2.17 percent. The stock appears to be facing some resistance at the $75.27 and $76.05 levels with some support at $74.21. The company reported record revenues of $4.2 billion for the first quarter of fiscal 2014, an increase of 12.0 percent when compared to a year ago. Shares of Starbucks have gained approximately 30.0 percent in the past year.
More information on Starbucks and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SBUX
Xerox Corporation (NYSE: XRX) shares traded in the range of $11.08 to $11.69 Friday before settling to close at $11.24, a decrease of 4.42 percent. The stock appears to be facing some resistance at the $11.57 and $11.75 levels with some support at $11.05. The company reported revenues were $5.6 billion for the fourth quarter of 2013, a decrease of 3.0 percent when compared to a year ago. Shares of Xerox have gained approximately 40.0 percent in the past year.
More information on Xerox and access to the free equity report can be found at:
www.WallStreetFundamentals.com/XRX
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