HP, Intel, Microsoft: Dow Movers
NEW YORK (
) -- U.S. stocks finished mixed Wednesday in a
punctuated by a furious rally in the final hour of trading.
The
Dow Jones Industrial Average
fell nearly 7 points, or 0.05%, to close at 12,496. The
S&P 500
rose 2.23 points, or 0.17%, to finish at 1319 and the
Nasdaq Composite
gained 11.04 points, or 0.39%, to settle at 2850.
Breadth within the Dow was split as well with 15 of the 30 components posting losses.
General Electric
(GE) - Get General Electric Company Report
finished Wednesday flat.
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The biggest decliners in the Dow were
Hewlett-Packard
,
Intel
(INTC) - Get Intel Corporation Report
and
Microsoft
(MSFT) - Get Microsoft Corporation Report
.
|
Much of the selling in these tech names was driven by the
from
Dell
(DELL) - Get Dell Technologies Inc Class C Report
after Tuesday's closing bell.
HP was the Dow's biggest loser, falling more than 3%. The stock was enjoying a strong bounce in after-hours action though after the company reported above-consensus quarterly results and a restructuring plan that calls for the elimination of 27,000 jobs, or 8% of its workforce. HP shares surged 5.7% to $22.27 on volume of more than 6 million in extended trades.
The PC and printer company reported second-quarter earnings on Wednesday after the close of $1.9 billion, or 98 cents a share, down from year-earlier earnings of $2.7 billion, or $1.24 a share.
Analysts, on average, anticipated earnings of 91 cents a share on revenue of $29.92 billion.
Intel shares fell 2.27% to $25.44. The stock has gained 4.91% year to date.
Shares of Microsoft fell 2.18% to $29.11. The stock has risen 12.13% year to date.
The biggest gainer in the blue-chip index was
Bank of America
(BAC) - Get Bank of America Corp Report
. Shares increased 2.72% to $7.17.
The bank's stock has risen 28.96% year to date.
Though not the biggest gainer,
Wal-Mart
(WMT) - Get Walmart Inc. Report
hit a 52-week high Wednesday of $63.97. The stock's 52-week low of $48.31 was set on Aug. 10.
The stock closed Wednesday up 1.33% to $64.58. Wal-Mart's stock has risen 8.07% year to date.
--
Written by Alexandra Zendrian in New York
.
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