On Thursday, the Dow (INDEX: ^DJI ) was full of winners. Then Friday rolls around, and only five of the 30 blue chips trade in the black at midday. What's going on?
First of all, the index may be down broadly, but the losses don't run deep. The biggest-percentage loser right now is McDonald's (NYSE: MCD ) with a sizable 1.9% drop, based on a downgrade to "neutral" by one of the 26 analyst firms tracking the fast-food king. Mickey D's fell as much as 3% before the market came to its senses, and the stock looks likely to recover further before the day is done.
Behind that red-ink leader, you'll find PC partners Intel (Nasdaq: INTC ) and Hewlett-Packard (NYSE: HPQ ) , both trading down about 1.3%. Reports point to HP losing its catbird seat in the PC market, and the addressable market itself is shrinking. Intel just introduced a brand new mobile processor for tablet computers, but investors don't seem terribly impressed.
On the flip side, Cisco Systems (Nasdaq: CSCO ) is far and away the biggest winner on the Dow right now. The stock has gained 2.3%, as several major analyst firms walked away satisfied from a round of meet-and-greets with Cisco's management. Cisco said that domestic demand for high-speed networking equipment is improving, and the analysts like the company's long-term earnings potential.
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