Dow Jones Industrial Average Falls 377 as Microsoft Plunges

Durable goods orders unexpectedly dropped in December

Jan 27, 2015 at 11:31 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is getting crushed at midday, down roughly 377 points, or 2.1%, on a spate of disappointing earnings reports. Another factor in the broad-market woes is the latest report on durable goods orders, which unexpectedly fell last month -- though the consumer confidence index reached its highest level in more than seven years, and new home sales beat the consensus estimate. Looking ahead, Apple Inc. (NASDAQ:AAPL) is among the big names set to report quarterly results tonight.

Continue reading for more on today's market -- and don't miss:

Midday Market Stats

Among the stocks with notable call volume is motorcycle icon Harley-Davidson Inc (NYSE:HOG), with the contracts crossing at 17 times the usual intraday rate. Digging deeper, buy-to-open activity is detected at the equity's at-the-money February 62.50 call -- which is HOG's most active option. On the charts, meanwhile, the shares have stumbled 3.6% to hover near $62.50.

For more midday statistics and stocks on the move, head to page 2.

Blue chip Caterpillar Inc. (NYSE:CAT) is among the leading losers on the Big Board, following a fourth-quarter earnings miss and reduced forward guidance. At last check, the shares were 7.5% lower at $79.57, and fresh off a two-year low of $79.16.

Daily Chart of CAT Since August 2014

Implantable lens maker STAAR Surgical Company (NASDAQ:STAA) is by far the biggest decliner on the Nasdaq, dropping roughly 30% to trade at $5.16. Earlier, the shares tanked to a three-year low of $4.84, after the company lowered its fourth-quarter revenue outlook.

The CBOE Volatility Index (VIX) is up 2.8 points, or 18.1%, at 18.33.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.89, with puts nearly doubling calls. At last check, SPY is 1.7% lower at $201.96.

 

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