Disappointing earnings by blue-chip companies pushed Wall Street to a tight spot today. Investors turned more cautious as Johnson & Johnson, and 3M failed to beat expectations of their quarterly earnings. Dow Jones Industrial Average lost 0.54 percent or 64.75 points to 11,915.77, and NASDAQ Composite index slipped 0.56 percent or 15.29 points to 2,702.26. The Standard and Poor's 500 index fell 0.61 percent or 7.81 points to 1,283.03.
During the current trading session, several stocks hit their new 52-week high or low. Some are discussed here.
Pfizer Inc. (NYSE: PFE) recorded a new 52-week of $18.73 today, surpassing its previous high of $18.45. The 52-week low of the stock is $13.71. The stock's trading volume was 35.05 million shares against its average volume of 49.94 million shares. Shares of the company added 1.46 percent or $0.27 to $18.72 amid reports that the company had signed deals with Mylan Inc (NASDAQ: MYL) on Lipitor.
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Shares of Corning Incorporated (NYSE: GLW) jumped 6.92 percent or $1.36 to $21 as the company declared an increase of 41 percent in its Q4 net income to $1.04 billion, or 66 cents per share. The stock recorded a new all-time high of $21.14 above its previous high of $19.64. Its 52-week low was $15.38. The trading volume was 30.07 million shares compared to its average volume of 12.22 million shares.
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Applied Materials Inc. (NASDAQ: AMAT) hit a new 52-week high of $15.40 during the current trading session. The stock's previous high was $15.36, with 52-week low of $10.22. The trading volume was 9.37 million shares against its average volume of 15.5 million shares. Shares of the company failed to sustain the momentum and lost 0.91 percent or $0.14 to $15.22.
Starbucks Corporation (NASDAQ: SBUX) surpassed its previous high of $33.49 to reach $33.78 today. The stock's 52-week low was $20.98. The trading volume was 4.23 million shares against its average volume of 6.34 million shares. The company is expected to post an 18 percent increase in its Q4 profit. Shares of the company were down 0.42 percent or $0.14 to $33.35.