This Is the Reason the S&P 500 Continued Its Slidehttp://www.fool.com/investing/general/2012/09/26/this-is-the-reason-the-sp-500-continued-its-slide.aspx Sean Williams
September 26, 2012
Economic problems can only be swept under the rug for so long before investors begin to trip on the rug. That seems to be the case in Europe, where large rallies against further austerity measures have erupted in both Spain and Greece. As my Foolish colleague Alex Dumortier noted earlier this morning, Spanish 10-year bonds are back above 6%, having their worst day in more than a month. If we've learned anything, it's that there's no quick solution to this mess.
For the day, the S&P 500 (INDEX: ^GSPC ) ended decisively lower by 8.27 points (0.57%) to 1433.32. Let's take a look at a few companies that had a particularly large impact on the S&P 500 today.
Electronic-parts manufacturer Jabil Circuit (NYSE: JBL ) was the disaster du jour for Wednesday, losing nearly 10% after a dismal fourth-quarter report and upcoming forecast. Jabil's short-circuit included a 28% decline in fourth-quarter profits because of lower demand and rising expenses. Looking forward, the components provider expects first-quarter earnings of $0.51 to $0.62, which is well below the $0.67 Wall Street had been looking for. Today's move lower may represent a decent buying opportunity, however, as Jabil's CEO, Timothy Main, was recently named of one of the 10 best mid-cap CEOs by Chiefest.com.
Homebuilders also had a p