Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
Stock Market Today, Jan. 24: U.S. stocks today are ending this week on a heavy note, as investors continue to absorb a swirl of disappointing earnings reports and worrisome manufacturing data from China.
All three major indices are logging solid losses: the Dow Jones Industrial Average fell 1.96% or 318 points to 15,879.11; the S&P 500 is down 2.09% or 38.17 points to 1,790.29; and the Nasdaq is down 2.15% or 90.70 points to 4,128.17.
Energy futures are mixed today, with oil prices plummeting and natural gas prices skyrocketing. Light sweet crude oil for March delivery is down 0.7% at $96.61 per barrel; natural gas for February delivery is up 6.1% at $5.02 per million BTUs. Heating oil is also on the rise, up 0.7% at $3.01 per gallon.
And metals futures are also mixed. Gold is up slightly at $1,263 per ounce, while silver has shed 1% at $19.82 per ounce. Meanwhile, platinum for April delivery has sunk more than 2% at $1,430.30 per ounce.
Here are some of the biggest losers in the stock market today…
These Stocks are Slumping with the Stock Market Today
Atossa Genetics Inc. (Nasdaq: ATOS) was down nearly 20.9% after it priced a sale of 5.8 million units consisting of shares and warrants for $2.40 per unit, aiming for gross proceeds of about $14 million.
And shares of International Game Technology (NYSE: IGT) are down 13.4% at $15.28 after it reported first-quarter results that fell short of analysts' expectations. It also said it expects to only hit the lower end of its previous guidance for fiscal 2013.
The global gaming company reported first-quarter earnings of $0.25 per share, compared with the prior-year period's $0.28 per share. Revenues were $541.2 million, up from $530.3 million in the same quarter last year.
Finally, shares of Kansas City Southern (NYSE: KSU) plummeted about 15% today, flirting with a 52-week low of $91.79, after the company posted fourth-quarter earnings of $1.03 per share, missing the Street view of $1.10 per share. Revenue was $615.6 million, falling short of the $616.62 million expected.
But these companies are the brighter spots in today's massive selloff…