Mar. 24, 2009 (Investor's Business Daily) -- Indexes pulled back Tuesday, led by banking and energy stocks.
The Nasdaq skidded 2.5%, the NYSE composite 2.3%, the S&P 500 2% and the Dow 1.5%.
Volume fell on both exchanges for the second day in a row.
Spice producer McCormick (MKC) gapped down, shaking out 3.18 to 30.26 in mammoth volume. The company reported that Q1 profit matched expectations. The stock pounded through its 50-day moving average.
Propane producer and distributor Inergy (NRGY) also gapped down and shed 1.47 to 21.84. The stock sliced its 50-day line in massive action after the company priced an offering of 4 million shares at 22.30 each.
Hub Group (HUBG )slid 2.13 to 16.04 in huge trade after BB&T and KeyBanc downgraded the stock. The transportation firm warned Tuesday that its Q1 EPS will miss views.
Water and electric service provider American Water (AWR )cascaded 2.76 to 35.78 in more than twice its usual pace.
ResMed (RMD) dropped 1.86 to 31.82 in hefty volume, giving up its previous session's gains, and then some.
On the upside, Ralcorp Holdings ( RAH) swelled up 1.05 to 56.46. Chinese online games provider Shanda Interactive Entertainment (SNDA) erased early losses and gained 1.04 to 37.40 to a 10-month high in above-average volume. The company said Tuesday it will partner with fellow game firm LineKong.
Quality Systems (QSII) jumped 2 to 47.46 in fast pace. The electronic health care records management software firm is now just 1% off its prior high. The stock has already cleared a 44.98 buy point.
