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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stocks Succumb to Late Selloff

NEW YORK (TheStreet) -- The major U.S. equity averages finished lower Tuesday as investors piled out of the technology, energy and financial sectors in the final hour of trading.

It was a sour close to a topsy-turvy session. Stocks sank at the start of the day but rallied back into positive territory as strong earnings from Home Depot (HD) stoked optimism about the housing market.

The tech sector was weak throughout the day and the selling accelerated into the close. The broad move lower came against the backdrop of ongoing investor worries about the eurozone's stability and the ability of the U.S. government to address the fiscal cliff by the end of the year.

The Dow Jones Industrial Average lost nearly 59 points, or 0.46%, to settle at 12,756. The blue-chip index, which ranged from 12,748-12,898 on the day, has now fallen in four of the past five sessions.

Breadth turned negative within the Dow with losers ahead of winners, 24 to 6. The biggest percentage decliners were Caterpillar (CAT), Hewlett-Packard (HPQ), Intel (INTC), and Microsoft (MSFT).

Microsoft (MSFT) shares finished off 3.3% following news that Steven Sinofsky, formerly president of Windows and Windows Live, has left the software giant. The company didn't provide a reason for Sinofsky's surprise departure, which comes just weeks after Microsoft launched Windows 8.

Cisco (CSCO) shares finished down incrementally ahead of the networking giant's fiscal first-quarter report. The stock was surging nearly 7% in extended trading after the company beat Wall Street's expectations on both the top and bottom lines.

The biggest gainers within the Dow were du Pont (DD), Home Depot, and Walt Disney (DIS).

Home Depot shares popped 3.6% after the company posted third-quarter results that beat Wall Street forecasts and hiked its full-year guidance as the home-improvement retailer got a boost from the gradually improving U.S. housing market conditions.

The Atlanta-based company also raised its full-year outlook to sales growth of 5.2% and earnings of $3.03 a share after posting quarterly earnings of 74 cents a share on revenue of $18.13 billion, versus the average analyst expectation of earnings of 70 cents a share on revenue of $17.92 billion.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs