3 Stocks Dragging The Basic Materials Sector Downward
All three major indices are trading up today with the
Dow Jones Industrial Average
(
^DJI
) trading up 8 points (0.0%) at 18,524 as of Monday, July 18, 2016, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,660 issues advancing vs. 1,244 declining with 151 unchanged.
The Basic Materials sector currently is unchanged today versus the S&P 500, which is up 0.1%. On the negative front, top decliners within the sector include
(
), down 1.7%,
(
), down 1.6%,
(
), down 1.5%,
(
), down 1.5% and
(
), down 1.2%. Top gainers within the sector include
(
), up 3.3%,
(
), up 2.1%,
(
), up 1.9%,
(
), up 1.8% and
Petroleo Brasileiro SA Petrobras
(
), up 1.7%.
TheStreet would like to highlight 3 stocks pushing the sector lower today:
3.
(
) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Spectra Energy is down $0.37 (-1.0%) to $36.68 on average volume. Thus far, 2.0 million shares of Spectra Energy exchanged hands as compared to its average daily volume of 4.2 million shares. The stock has ranged in price between $36.55-$36.84 after having opened the day at $36.81 as compared to the previous trading day's close of $37.05.
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Spectra Energy Corp owns and operates a portfolio of natural gas-related energy assets in North America. It operates through four segments: Spectra Energy Partners, Distribution, Western Canada Transmission & Processing, and Field Services. Spectra Energy has a market cap of $25.2 billion and is part of the energy industry. Shares are up 54.8% year-to-date as of the close of trading on Friday. Currently there are 3 analysts that rate Spectra Energy a buy, no analysts rate it a sell, and 9 rate it a hold.
TheStreet Ratings rates
Spectra Energy
as a
. The company's strengths can be seen in multiple areas, such as its expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full
now.
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2. As of noon trading,
(
) is down $1.82 (-1.5%) to $121.16 on light volume. Thus far, 431,922 shares of Concho Resources exchanged hands as compared to its average daily volume of 1.3 million shares. The stock has ranged in price between $120.31-$123.34 after having opened the day at $122.44 as compared to the previous trading day's close of $122.98.
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Concho Resources Inc., an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil and natural gas properties in the Unites States. Concho Resources has a market cap of $16.2 billion and is part of the energy industry. Shares are up 32.4% year-to-date as of the close of trading on Friday. Currently there are 18 analysts that rate Concho Resources a buy, no analysts rate it a sell, and 3 rate it a hold.
TheStreet Ratings rates
Concho Resources
as a
. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and weak operating cash flow. Get the full
Concho Resources Ratings Report
now.
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1. As of noon trading,
(
) is down $0.75 (-2.2%) to $32.99 on light volume. Thus far, 1.4 million shares of National Oilwell Varco exchanged hands as compared to its average daily volume of 5.4 million shares. The stock has ranged in price between $32.46-$33.33 after having opened the day at $33.12 as compared to the previous trading day's close of $33.74.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
National Oilwell Varco, Inc. designs, manufactures, and sells equipment and components used in oil and gas drilling, completion, and production operations; and provides oilfield services to the upstream oil and gas industry worldwide. National Oilwell Varco has a market cap of $12.7 billion and is part of the energy industry. Shares are up 0.8% year-to-date as of the close of trading on Friday. Currently there are 6 analysts that rate National Oilwell Varco a buy, 4 analysts rate it a sell, and 17 rate it a hold.
TheStreet Ratings rates
National Oilwell Varco
as a
. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share. Get the full
National Oilwell Varco Ratings Report
now.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider
(
) while those bearish on the basic materials sector could consider
ProShares Short Basic Materials Fd
(
).