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.
Bristol-Myers Squibb Co. (NYSE: BMY) shares traded in the range of $50.31 to $55.47 Friday before settling to close at $50.94, a decrease of 5.58 percent. The stock appears to be facing some resistance at the $51.30 and $52.45 levels with some support at $50.28. According to a recent Bloomberg article by Drew Armstrong, the company “wasn’t ready to move ahead with a study of a combination cancer treatment that includes the company’s top prospect.” Shares of Bristol-Myers Squibb have gained approximately 38.0 percent in the past year.
More information on Bristol-Myers Squibb and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BMY
Kimberly Clark Corp. (NYSE: KMB) shares traded in the range of $106.75 to $110.42 Friday before settling to close at $107.40, an increase of 1.88 percent. The stock appears to have some support at the $102.39, $94.30 and $93.00 levels. The company reported diluted net income per share was $5.53 in 2013, compared to $4.42 in 2012. Shares of Kimberly Clark have gained approximately 25.0 percent in the past year.
More information on Kimberly Clark and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KMB
The Procter & Gamble Company (NYSE: PG) shares traded in the range of $79.05 to $81.70 Friday before settling to close at $79.18, an increase of 1.20 percent. The stock appears to be facing some resistance at the $79.31 and $79.88 levels with some support at $78.98. The company reported organic sales in the fourth quarter of 2013 increased 3.0 percent when compared to a year ago. Shares of Procter & Gamble have gained approximately 8.0 percent in the past year.
More information on Procter & Gamble and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PG
Stanley Black & Decker, Inc. (NYSE: SWK) shares traded in the range of $77.50 to $82.76 Friday before settling to close at $77.81, a decrease of 3.23 percent. The stock appears to be facing some resistance at the $78.99 and $79.73 levels with some support at $74.37. The company reported a 89.0 percent drop in fourth quarter profit largely due to higher restructuring charges. Shares of Stanley Black & Decker have fallen approximately 3.5 percent year-to-date.
More information on Stanley Black & Decker and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SWK
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