The losses on Friday gave the Standard & Poor’s 500 index its fourth losing week out of the last five.
Disappointing quarterly results and outlooks from several companies pulled the major stock indexes sharply lower on Friday. New signs pointing to a slowing of China’s economy also added to investor jitters, bringing down the price of oil and other commodities.
While corporate profits have mostly exceeded Wall Street’s expectations so far this earnings season, investors have grown uneasy as many companies provided cautious outlooks or weak sales.
“The revenue numbers have been very shaky,” said JJ Kinahan, TD Ameritrade’s chief strategist. “After next week, we’ll have a much better picture overall how the earnings season was. But right now, that’s the theme that I’m seeing, and it’s not a healthy one.”
The mixed company earnings increasingly weighed on stocks as the week wore on. The Standard & Poor’s 500 index has now lost ground four out of the last five weeks.
The S&P 500 ended the day down 22.50 points, or 1.1 percent, to 2,079.65, while the Dow Jones industrial average slid 163.39 points, or 0.9 percent, to 17,568.53. The Nasdaq composite lost 57.78 points, or 1.1 percent, to 5,088.63.
Vipshop Holdings Ltd – ADR (NYSE:VIPS) decreased -4.62% and closed at $202.5 in the last trading session with the overall traded volume of 7.44 million shares, versus the average volume of 8.31 million shares. Its fifty two week range was $16.95-$30.72. It has market cap of $11.71 billion while its total outstanding shares are 991.71 million. Vipshop Holdings Limited (NYSE:VIPS) through its subsidiaries, works as an online discount retailer for various brands in the People’s Republic of China. It offers a variety of branded products, including women’s apparel, such as casual wear, jeans, dresses, outerwear, swimsuits, lingerie, pajamas, and maternity clothes; men’s apparel comprising casual and smart-casual T-shirts, polo shirts, jackets, pants, and underwear; women and men shoes for casual and formal occasions; and accessories consisting of belts, jewelry, watches, and glasses for women and men.
Talen Energy Corp (NYSE:TLN) moved down -4.63% with the closing price of $15.93. The overall volume in the last trading session was 1.50 million shares. Its fifty two week range was $15.16-$27.00. The total market capitalization remained $1.96 billion while its total outstanding shares are 128.42 million. Talen Energy Corporation (NYSE:TLN) declared an agreement today (7/20) to acquire MACH Gen, LLC, which owns more than 2,500 megawatts of combined-cycle, natural gas-fired generating capacity, for $1.175 billion inclusive of any assumed debt, subject to customary purchase price adjustments.
Abengoa Yield PLC (NASDAQ:ABY) decreased -4.65% to close at $27.09 in the last 680,574.00 session and its total traded volume was 1.69 million shares versus average volume of 680,574.00 million. The company has market cap of $2.71 billion while its total outstanding shares are 101.60 million. Abengoa Yield plc (NASDAQ:ABY) the sustainable total return company that owns a diversified portfolio of contracted assets in the energy and environment sectors, publicized recently that it will release its financial results for the second quarter of 2015 before the opening of the United States market on Thursday July 30th, 2015. The information will be published on Abengoa Yield’s website www.abengoayield.com.