DJIA stocks that lifted the market
Markets opened lower on Monday following the announcements of two blockbuster mergers, one in the oil patch and the other in the drug business. Crude oil drifted down again and tech stocks and financials also traded lower. Shortly before the closing bell the DJIA traded up 0.09% for the day, the S&P 500 traded up 0.06%, and the Nasdaq Composite traded down 0.40%.
The DJIA stock posting the largest daily gain ahead of the close was UnitedHealth Group Inc. (NYSE: UNH) which traded up 1.41% at $96.46. The stock’s 52-week range is $69.57 to $96.74. Volume was about 30% below daily average of around 3.8 mln shares. The company has expanded its offerings under the Affordable Care Act (Obamacare) and is expected to pick up more insurance business this year.
Wal-Mart Stores Inc. (NYSE: WMT) traded higher by 0.68% at $83.53. The stock’s 52week range is $72.27 to $83.72, and the high was posted on Monday. Volume was about 15% below the daily average of around 6.8 mln shares. The company benefits from rising hopes for the holiday season, but there was no specific news.
Intel Corp. (NASDAQ: INTC) traded higher by 0.85% at $34.24. The stock’s 52week range is $23.40 to $35.56. Volume was less than half the daily average of around 31 mln shares. The chipmaker said that its new smart bracelets would retail for $495, which includes two years of wireless service from AT&T Inc.
Cisco Systems Inc. (NASDAQ: CSCO) traded up 0.63% at $26.49. The stock’s 52week range is $20.22 to $26.55, and the high was posted on Monday. Trading volume was about equal to the daily average of around 27 mln shares. The company had no specific news on Monday Of the Dow 30 stocks, 14 closed lower and 16 higher.