4 Stocks Pushing The Industrial Goods Sector Lower

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Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 56 points (-0.3%) at 15,939 as of Wednesday, Feb. 12, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,598 issues advancing vs. 1,323 declining with 154 unchanged.

The Industrial Goods sector currently sits up 0.4% versus the S&P 500, which is down 0.1%. A company within the sector that fell today was 3D Systems Corporation ( DDD), up 2.1%. Top gainers within the sector include Caesarstone Sdot-Yam ( CSTE), up 15.6%, Owens-Corning ( OC), up 12.2%, Generac Holdings ( GNRC), up 4.2%, USG ( USG), up 3.5% and Nidec Corporation ( NJ), up 3.4%.

TheStreet would like to highlight 4 stocks pushing the sector lower today:

4. Covanta Holding Corporation ( CVA) is one of the companies pushing the Industrial Goods sector lower today. As of noon trading, Covanta Holding Corporation is down $0.96 (-5.1%) to $17.70 on heavy volume. Thus far, 2.5 million shares of Covanta Holding Corporation exchanged hands as compared to its average daily volume of 1.5 million shares. The stock has ranged in price between $17.50-$18.30 after having opened the day at $18.23 as compared to the previous trading day's close of $18.65.

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in North America. Covanta Holding Corporation has a market cap of $2.4 billion and is part of the materials & construction industry. Shares are up 5.1% year-to-date as of the close of trading on Tuesday. Currently there are 2 analysts that rate Covanta Holding Corporation a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Covanta Holding Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Covanta Holding Corporation Ratings Report now.

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