It's been a week to forget for the Dow Jones Industrial Average
While the Dow had a bad day overall, these three stocks fared much worse.
Percent Change Today
Bank of America
JPMorgan Chase fell today even after reporting solid earnings that beat expectations. The bank logged earnings per share of $1.31 versus analyst expectations of $1.18. The company, which recently passed the Federal Reserves's stress tests, will initiate a $15 billion stock -buyback program and raise its dividend to $0.30. Still, investors were not satisfied with JPMorgan's outlook and its ability to contain costs. JPMorgan and Wells Fargo's earnings, along with macro issues, also helped send down Bank of America more than 5% on the day.
Alcoa rounds out the three losers of the Dow today, losing just over 3%. The aluminum giant reported impressive earnings after the bell Tuesday, posting earnings per share of $0.09 while analysts expected a loss of $0.04. China's disappointing GDP numbers clearly were the primary driver behind Alcoa's drop today, as the company is one of the most exposed on the Dow to the Middle Kingdom. On Tuesday, Alcoa trimmed its outlook for China aluminum consumption by 1%, though the company reiterated its global aluminum demand growth forecast of 7%. Overall, Alcoa's share price still had a solid week, ending up 2.3% the past five days.
Outside the Dow, Google
The big picture
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Brendan Byrnes owns shares of Wells Fargo. The Motley Fool owns shares of Google, Bank of America, Wells Fargo, and JPMorgan Chase and has created a covered strangle position in Wells Fargo. Motley Fool newsletter services have recommended buying shares of Google and Wells Fargo. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.