This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Travelers, American Express, Exxon: Dow Movers

NEW YORK ( TheStreet) -- U.S. stocks finished Friday down as the market took a break following its steep run-up.

The Dow Jones Industrial Average fell 2.73 points, or 0.02%, to 12,977.57. The S&P 500 dropped 4.23 points to 1,369.86 and the Nasdaq Composite fell 12.78 points to 2,976.19.

Breadth within the Dow was negative with 16 of the index's 30 components posting losses. Bank of America (BAC) ended the day flat.

The biggest percentage decliners in the index Friday were Caterpillar (CAT - Get Report), American Express (AXP - Get Report), Travelers (TRV - Get Report) and General Electric (GE - Get Report).

Shares of Travelers fell 42 cents, or 0.72%, to $58.00. The stock was downgraded Friday to equal weight from overweight by Morgan Stanley.

"TRV still offers solid risk-reward in the improving P&C marketplace and we see nothing 'wrong' with TRV's balance sheet, reserves or the forward fundamental outlook," Morgan Stanley analysts wrote. "However, our 'capital return' thesis has played out and TRV shares have returned 25% (including dividends) to owners since 2Q10. We no longer see the same level of excess capital at TRV as at our other Overweights and our long-held view remains that excess capital is 'king' as the P&C market transitions into the early stages of the next pricing cycle."

TheStreet Ratings gives Travelers a B grade with a buy rating and a $68.10 price target.

Caterpillar shares dropped 93 cents, or 0.82%, to $112.46. TheStreet Ratings gives Caterpillar an A grade with a buy rating and $135.14 price target.

Shares of General Electric fell 15 cents, or 0.76%, to $18.98. General Electric gets a B grade from TheStreet Ratings with a buy rating and $22.30 price target.

Shares of American Express fell 1.06% to $53.00. TheStreet Ratings gives American Express an A grade with a buy rating and $60.83 price target.

The biggest percentage gainers in the index were IBM (IBM), JPMorgan Chase (JPM), Kraft Foods (KFT) and Verizon (VZ). None of the stocks had gains of more than 1%.

-- Written by Alexandra Zendrian in New York.



>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to: tips@thestreet.com.

>To follow the writer on Twitter, go to Alexandra Zendrian.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AXP $77.99 0.00%
CAT $84.60 0.00%
GE $26.80 0.00%
TRV $103.95 0.00%
AAPL $130.28 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs