Wednesday, August 6, 2014

Worst Performing Industries For August 6, 2014

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The Dow gained 0.29% to 16,477.06, while the NASDAQ composite index rose 0.34% to 4,367.54. The broader Standard & Poor's 500 index surged 0.32% to 1,926.33.

The worst performing industries in the market today are:

Drug Stores:

This industry tumbled 4.7% by 11:00 am. The worst stock within the industry was Walgreen Co (NYSE: WAG), which fell 12.6% following the announcement of Boots acquisition. Walgreen lifted its dividend by 7.1%.

Drug Related Products:

This industry fell 3.27% by 11:00 am ET. Perrigo Company (NYSE: PRGO) shares dropped 3.8% in today's trading. Perrigo is expected to release its Q4 results On August 14, 2014.

Semiconductor- Memory Chips:

The industry dropped 3.24% by 11:00 am. The worst performer in this industry was Micron Technology (NASDAQ: MU), which declined 1.9%. Micron shares have jumped 125.13% over the past 52 weeks, while the S&P 500 index has gained 13.56% in the same period.

Diversified Communication Services:

This industry moved down 2.47% by 11:00 am, with Sprint (NYSE: S) moving down 17.6%. Wall Street Journal reported that Sprint was abandoning its efforts to acquire T-Mobile US (NYSE: TMUS), citing regulatory issues. Sprint named Marcelo Claure as its President and CEO.

Posted-In: Worst Performing IndustriesNews Movers & Shakers Intraday Update Markets

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