Drop in factory output weighs down markets


The nation's factory output unexpectedly dropped in May to weigh the markets down to a lower open with the Dow falling 74 points to 21,299. Nasdaq plummeted 71 points to 6,123.

On the upside

DDR (NYSE: DDR) and Madison International Realty recapitalized a joint venture.

Hilton Grand Vacations (NYSE: HGV) priced its secondary offering of 9.65 million common shares.

Bargain hunters lifted shares of McEwen Mining (NYSE: MUX).

On the downside

Kroger (NYSE: KR) reported sharply lower first quarter earnings prompting the grocery store chain to slash its full year earnings outlook. 

Mattel (Nasdaq: MAT) will cut its dividend in order to finance its strategic growth plan.


Alibaba (NYSE: BABA) may partner with SoftBank to jointly invest $1.5 billion in Singaporean ride-hailing startup Grab.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 dropped 16 points to 2,421. Bitcoin plunged $186 to $2276.

About this Entry

This page contains a single entry by published on June 15, 2017 6:43 AM.

Mixed close after rate increase was the previous entry in this blog.

Fiat to recall 297,000 minivans is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12