For the second day, the markets fell due to concerns over the Federal Reserve's decisions on interest rates, and many investors fearing we are now at the beginning of a major correction. The Dow Jones Industrial Average (DJINDICES: ^DJI ) lost 46 points today, and now sits at 13,880, after all but nine of its 30 components ended the day in the red. The S&P 500 and the NASDAQ both also closed lower, as they lost 0.63% and 1.04%, respectively. But, as I mentioned, not all the Dow's components met the same fate.
Who was higher and why?
Shares of the number one personal computer maker, Hewlett-Packard (NYSE: HPQ ) rose 2.4% during today's regular trading session. Investors must have just had a good feeling about HP today, because, after the closing bell rang, the company released quarterly results, which sent shares up more than 5%. Although revenue fell again, sales only fell by 6%, which could be an indication that the company's turnaround is actually working.
Speaking of earnings, Wal-Mart (NYSE: WMT ) released its quarterly results this morning, which were a positive for the stock, after those leaked internal emails last week had investors writing off the company. Analysts had expected earnings per share to hit $1.57, but the company posted $1.67. This was a solid increase from last year, when it report $1.50 for the same quarter. Shares of the super store closed the day up 1.52%.
Shares of Boeing (NYSE: BA ) flew higher by 1.64% today, as company officials prepare for a meeting with the FAA tomorrow to discuss a possible solution to the company's 787 Dreamliner's battery problem. Those familiar with the matte say the proposed solution will entail developing a kit the same size as the old batteries being used, which will hold a new battery, protect the plane from possible fire damage, and allow pilots to monitor the individual fuel cells of the battery. From the looks of the share price increase over the past two days, investors seem to be rather confident that the FAA will approve the new idea, but if it's not accepted, shares will likely crash.
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