E I Du Pont De Nemours And Co (NYSE:DD) ended the week lower by 4.83% after the company released an updated earnings forecast for the remainder of 2013. Management announced that earnings will probably come in at the lower end of its previous forecast of $3.85 to $4.05 per share. The company made a number of excuses for the lower profit, and one that gained the most attention from analysts and critics was the unusual weather so far this year. Analysts had been expecting 2013 profits to hit $3.89, so we may see that number slowly move lower in the coming weeks. Furthermore, Bank of America/Merrill Lynch downgraded the stock this past week from “buy” to “neutral.” That move also probably put downward pressure on the share price.
Shares of Microsoft Corporation (NASDAQ:MSFT) ended the week as the third worst performing Dow stock, after it lost 3.61% of its value. On Thursday, the stock declined after the company announced that its new Xbox One won’t be available in the Asian markets until sometime during late 2014, as opposed to a late 2013 release date here in the United States. With Sony Corporation (ADR) (NYSE:SNE)‘s PlayStation 4 due to hit shelves before the Christmas shopping season this year all around the world, Microsoft Corporation (NASDAQ:MSFT) will probably lose some market share in the regions of the world where its gaming console isn’t available.
A few other Dow losers this week:
- Alcoa, down 1.2%
- Boeing, down 0.19%
- Cisco, down 0.61%
- Chevron, down 0.51%
- General Electric, down 0.92%
- Home Depot, down 3.18%
- Coca-Cola, down 2.24%
- Travelers, down 1.15%
- Wal-Mart, down 1.71%
- Walt Disney, down 1.46%
- United Technologies, down 0.33%
- IBM, down 1.59%
- JPMorgan Chase, down 1.54%
- Merck, down 1.01%
- Hewlett-Packard, down 0.2%
- ExxonMobil, down 0.77%
- Caterpillar, down 0.6%
- Bank of America, down 2.01%
More Foolish insight
It’s been a frustrating path for Microsoft Corporation (NASDAQ:MSFT) investors, who’ve watched the company fail to capitalize on the incredible growth in mobile over the past decade. However, with the release of its own tablet, along with the widely anticipated Windows 8 operating system, the company is looking to make a splash in this booming market.
The article Last Week’s Worst-Performing Dow Components originally appeared on Fool.com.
Fool contributor Matt Thalman owns shares of Bank of America, Microsoft, JPMorgan Chase, and Walt Disney. Check back Monday through Friday as Matt explains what caused the Dow’s winners and losers of the day, and every Saturday for a weekly recap. Follow Matt on Twitter @mthalman5513.The Motley Fool recommends American Express, Bank of America, Chevron, Cisco Systems, Coca-Cola, Home Depot, and Walt Disney and owns shares of Bank of America, General Electric Company, IBM, JPMorgan Chase, Microsoft, and Walt Disney.
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