Bank of America, Procter & Gamble: Dow Movers
By Alexandra Zendrian - 04/30/12 - 4:25 PM EDT
NEW YORK (TheStreet
) -- U.S. stocks finished Monday lower after some shaky U.S. consumer economic data
and the emergence of more concerns about Spain.
The Dow Jones Industrial Average
fell 14.68 points, or 0.11%, to 13,213.63. The S&P 500
dropped 5.45 points to 13,213.63 and the Nasdaq Composite
lost 22.84 points to 13,213.63.
The Dow's 30 components were evenly split between winners and losers on Monday.
Some of the biggest blue-chip laggards were Bank of America
and Procter & Gamble
Shares of Bank of America declined 2.18% to $8.07 with volume exceeding 133 million. It was a weak day across the financial sector with the KBW Bank Index
sliding 1.2%. Year-to-date, though, B of A's stock is still up 46%.
Procter & Gamble shares dropped 1.47% to $63.49 after the stock was downgraded to perform from outperform
by Oppenheimer analysts on Monday.
Some of the Dow's biggest percentage gainers were Merck
and Kraft Foods
Shares of Merck rose 1.95% to $39.21.
The drug company
won two patent infringement lawsuits against Mylan Pharmaceuticals
Kraft Foods shares increased 1.13% to $39.85.
The stock hit a 52-week high Monday of $39.92 after it was upgraded to overweight from neutral
by JPMorgan analysts on Monday. The analysts gave the stock a $45 price target.
--Written by Alexandra Zendrian in New York
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