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

Stocks Slip On Wall Street; Dell Slumps

Mitch Stapley, chief investment officer at Fifth Third Asset Management, says that investors and traders are likely to be in for a rough ride until the politicians have brokered a deal.

"Volatility is going to be the hallmark as we go through this process ... It's going to be a very choppy period coming up," said Stapley, who is based in Grand Rapids, Mich.

The Dow still ended lower for the week, logging a fourth straight weekly decline. That slump has pared the index's gains for the year to 3 percent. The S&P 500 also ended the week lower, and has fallen three of the last four weeks.

Mixed earnings reports also weighed on stocks.

Dell fell 70 cents, 7.3 percent, to $8.86. The computer maker is struggling as consumers switch to tablets and smartphones away from PCs. Dell said that its revenue may fall as much as 13 percent in the fourth quarter. Sears fell $10.99, or 19 percent, to $47.49 after the retailer said sales at both its Kmart and Sears stores continued to tumble.

Superstorm Sandy depressed U.S. industrial output in October, while production of machinery and equipment declined sharply, reflecting a more cautious outlook among businesses, according to a Federal Reserve report.

The Fed says industrial output fell 0.4 percent last month, after a 0.2 percent gain in September. Excluding the storm's impact, production at the nation's factories, mines and utilities would have been up about 0.6 percent.

The yield on the benchmark 10-year Treasury note edged down to 1.58 percent from 1.59 percent late Thursday.

Among stocks making big moves:

â¿¿Schiff Nutrition International, a nutritional supplement company, jumped $9.84, or 29 percent, to $43.76 after U.K.-based Reckitt Benckiser Group offered to pay $42 a share in cash to buy the company. German pharma giant Bayer had offered to buy Schiff in October for $34 a share. Schiff's stock is trading above the most recent offer, suggesting investors anticipate a bidding war may develop.

2 of 3

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
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs