This Day On The Street
Continue to site
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

Kripsy Kreme Flops, Ford Falls as Stocks Drop

NEW YORK (TheStreet) -- Major U.S. stock averages extended their losses on Tuesday afternoon after several record highs over the past eight weeks.

  • The S&P 500 lost 0.32% to 1,795.15, the Dow Jones Industrial Average was off 0.59% to 15,914.62 and the Nasdaq slipped 0.2% to 4,037.20 as equity traders struggled to gauge the direction of the U.S. economic recovery. The Nasdaq's decline was fighting against some upward pressure from Apple (AAPL - Get Report) as shares added 2.7% to $566.36 on news that the long-awaited deal between the smart devices giant and China Mobile (CHL) has started to commence.
  • Large automakers enjoyed strong sales in November, beating estimates. Chrysler's sales jumped 16% to 142,275 units while Ford's sales were 7.1% higher. General Motor's sales increased by 13.7%. Despite this, Ford Motor (F) dropped 2.9% to $16.56 and General Motors (GM) was off 2.5% to $38.14 in afternoon trade.
  • In stock news, Krispy Kreme Doughnuts (KKD) plummeted 20.2% to $19.59 after quarterly revenue missed analysts' estimates late yesterday. Tesla Motors (TSLA) jumped 16.5% to $144.70 after its electric car - which was being investigated for a U.S. recall - was cleared after a safety review by Germany's transportation regulator. OncoMed Pharmaceuticals (OMED) soared 97.9% to $27.70 on news the drug maker signed a $177 million agreement with Celgene (CELG) on potential cancer medicines.
  • Data has been confusing for the markets. On one hand, strong manufacturing data this week points to U.S. economic growth and stronger corporate profits. On the other hand, a disappointing start to holiday season sales over the Thanksgiving period are highlighting continued weakness in this consumer-driven U.S. economy.
  • State Street Global Advisors said during its outlook conference in New York Monday that 2014 should see a pick-up in U.S.-driven global growth as monetary policy remains accomodative, but will remain below historical trends. The combination of "benign growth" and easy money should foster an environment for taking on discretionary investments, risk, credit and equity-wise. Asset class diversification will be more difficult, they said. A main message broadcast during the panel discussions was that 2014 will be a year of recovery and profit after the stabilization of "traumas" in Europe and the U.S. in 2013.
  • Japan held strong in the face of sinking global markets as its government is reportedly hammering out a $53 billion economic stimulus package this week. The Nikkei 225 increased 0.6% to a nearly six-year high of 15,749.66 as the yen dropped to its lowest level against the greenback since May, boosting exporter such as Canon and Kawasaki Heavy Industries.

--By Andrea Tse, Jane Searle and Joe Deaux in New York

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
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $111.31 0.48%
CHL $60.23 -2.37%
FB $92.80 -1.29%
GOOG $645.44 0.62%
TSLA $241.46 -1.91%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs