Stocks headed into the weekend on a peaceful note today, ending in mostly positive territory. A struggling Portuguese bank, believe it or not, spooked investors yesterday, as a flight to safer investments knocked a good 70 points off the Dow Jones Industrial Average (DJINDICES:^DJI). With little breaking economic news to go on, and all eyes to a flurry of quarterly reports next week, the Dow added 28 points, or 0.2%, to end at 16,943 today.
Home Depot (NYSE:HD) was the hardest-hit stock in the blue chip index yesterday. Today's modest 0.3% gain shows that investors forgave some of yesterday's losses -- losses that were hardly rational to begin with. Yesterday, Wall Street nearly had a conniption when flooring retailer Lumber Liquidators sharply cut its second-quarter earnings outlook. The lousy quarter at the $1.5 billion Lumber Liquidators in turn erased more than $1.5 billion from Home Depot's market value alone, as shareholders worried the flooring retailer's struggles were indicative of the home-improvement industry, as a whole.
Tile Shop Holdings (OTC:TTSH) was also a victim of yesterday's collective home-improvement industry freakout. Shares continued falling today, shedding an additional 6.9% on Friday. While Lumber Liquidators' poor performance is more relevant and worrisome for Tile Shop Holdings -- which is also a small-cap flooring retailer -- the sell-off in this stock also seems a little on the harsh side. Motley Fool real-money manager Jim Royal noted yesterday that he was excited to snap up shares at discount prices on the decline.
Shares of World Wrestling Entertainment (NYSE:WWE) are steeply discounted from where they began the year, off nearly 30% from their New Year's levels. All of those losses and then some, however, were accrued on a single day in May, when the stock took a 43% smackdown. World Wrestling Entertainment shareholders were livid about the broadcasting deal struck with Comcast's NBCUniversal, which will be worth around $200 million annually -- a few hundred million less than what investors expected. But the company isn't completely down-and-out: Shares advanced 2.3% Friday, and the catalyst most WWE believers are hoping for is the company's live-streaming subscription service, which needs 1.4 million users to break even. The WWE Network aims to have 1 million subscribers by the end of the year.