Negative Movers: Weak Earnings Hit Tech Stocks (JNPR, AVL, ILMN, VSH, CAVM)
The markets are trading lower on Wednesday. In economic news, durable goods orders fell 2.1% in June, which is the second decline in the past three months.
Today’s Negative tickerspy Indexes
Networking Stocks (down 3.4% vs S&P 500): Shares of Juniper Networks (JNPR) are leading the Index lower after the company reported earnings of 31 cents per share, which was 2 cents lower than analyst expectations.
Rare Earth Stocks (down 3.2% vs S&P 500): Avalon Rare Metals (AVL) is leading the Index lower after the company reported third quarter earnings of 8 cents per share, analyst expectations were for the company to earn 14 cents per share.
Genetic Analysis Stocks (down 3.5% vs S&P 500): Shares of Illumina (ILMN) are leading the Index lower despite reporting second quarter earnings of earnings of 38 cents per share, which was two cents better than analyst estimates.
Discrete Semiconductor Stocks (down 2.9% vs S&P 500): Shares of Vishay Intertechnology (VSH) are leading the Index lower after the company was downgraded to neutral from buy at Longbow.
Specialty Semiconductor Stocks (down 2.8% vs S&P 500): Shares of Cavium (CAVM) is leading the Index lower on well above average volume.
A full listing of all the Negative Indexes and related charts and metrics are available at tickerspy.com.
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