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.
Baxter International Inc. (NYSE: BAX) shares traded in the range of $67.31 to $68.73 Friday before settling to close at $67.64, a decrease of 1.97 percent. The stock appears to be facing some resistance at the $68.97 and $70.00 levels with some support at $67.59. The company reported net earnings were $2,567 million for the full year 2013, an increase of 2.0 percent when compared to a year ago. Shares of Baxter International have fallen approximately 2.75 percent year-to-date.
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Colgate-Palmolive Company (NYSE: CL) shares traded in the range of $62.39 to $63.95 Friday before settling to close at $62.39, a decrease of 1.66 percent. The stock appears to be facing some resistance at the $63.63 and $64.42 levels with some support at $61.26. The company is scheduled to release 2013 fourth quarter and full year results on January 30th. Shares of Colgate-Palmolive have gained approximately 13.0 percent in the past year.
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Intuitive Surgical, Inc. (NASDAQ: ISRG) shares traded in the range of $406.25 to $426.52 Friday before settling to close at $410.76, a decrease of 6.43 percent. The stock appears to be facing some resistance at the $425.79 and $434.32 levels with some support at $401.26. The company reported earnings of $166.2 million, or $4.28 per share, for the fourth quarter of 2013, a decrease of 5.0 percent when compared to a year ago. Shares of Intuitive Surgical have fallen approximately 28.0 percent in the past year.
More information on Intuitive Surgical and access to the free equity report can be found at:
Kansas City Southern (NYSE: KSU) shares traded in the range of $92.50 to $104.00 Friday before settling to close at $99.49, a decrease of 15.17 percent. The stock appears to be facing some resistance at the $105.35, $108.84 and $109.87 levels. The company reported revenues were $615.6 million for the fourth quarter of 2013, short of analysts’ expectations of $618.1 million, according to data from FactSet. Shares of Kansas City Southern have gained approximately 6.0 percent in the past year.
More information on Kansas City Southern and access to the free equity report can be found at:
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