Midday movers: HP, Boeing, Big Lots
Stocks are down on disappointing domestic and international economic data.
The Dow was weighed on by weakness from Hewlett-Packard (HPQ), which fell 6.7% after its earnings beat expectations but its profits and outlook disappointed; Intel (INTC), which declined 2% on read-through from H-P's and Dell's (DELL) poor guidance; and Boeing (BA), which slid 2.5% after Australian airline Qantas canceled its commitment for 35 787 Dreamliners
Among the notable gainers was Hain Celestial (HAIN), up nearly 20%, after reporting higher than expected fourth quarter earnings per share, giving better than expected guidance and also agreeing to purchase certain U.K. assets while divesting the Daily Bread brand and some other properties.
Also higher were shares of Towerstream (TWER), up about 15%, after DA Davidson initiated coverage of the stock with a Buy rating and $7 price target.
Among the noteworthy losers were Big Lots (BIG), down 22%, and Guess (GES), down 21%, after their disappointing reports and outlooks.
Also lower were shares of ADTRAN (ADTN), down over 6%, after Calix (CALX) purchased Ericsson's (ERIC) fiber-based broadband access solutions and the two signed a new reseller agreement.
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Stocks drift lower and bonds are hit as investors await the Fed. Prepare for higher volatility this week.
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