Railway transporters don't expect a bottom-line bonanza either. Norfolk Southern (NSC) lowered its earnings outlook on weakness in coal transportation as well as general merchandise; NSC shares fell in after-hour trading as a result.
For all of the bullish enthusiasm surrounding multi-year highs for the SPDR Dow Jones Industrials Trust (DIA), transporters have failed to confirm the excitement. Corporations that move goods air, truck, rail or sea have been ratcheting down forecasts.
The technical picture for ETFs exposed to the sector is somewhat disturbing. Guggenheim Shipping ETF (SEA) as well as the more widely known iShares DJ Transportation Fund (IYT) both reside below longer-term 200-day trendlines.Majesco Entertainment (COOL), a software company in the videogaming realm, recently hit a 52-week low on worse-than-expected losses on its earnings report. More noteworthy, Adobe Systems
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV