Merck & Co., Inc. (MRK), Intel Corporation (INTC): 2 Big Winners and 2 Big Losers in the Dow Yesterday

Editor’s note: This article was originally published yesterday

Despite a poor report from the Institute for Supply Management showing that the Purchasing Managers Index contracted in May to 49, from April’s 50.7, the major indexes all closed the day on high notes. The Dow Jones Industrial Average rose 138 points, or 0.92%, after losing 208 points Friday of last week alone and 187 points over the course of the shortened four-day trading week. The blue-chip index now sits at 15,254, while the S&P 500 rose to 1,640, after it increased by 0.59%. And despite trading in the red for the majority of the day, even the Nasdaq closed the day in the black, as it increased by 0.27%.

Merck & Co., Inc. (NYSE:MRK)

2 Dow winners
The Dow’s two biggest winners today were Merck & Co., Inc. (NYSE:MRK) and Intel Corporation (NASDAQ:INTC), which rose by 3.75% and 3.95%, respectively. Merck received favorable results from a study that had been conducted on its lambrolizumab cancer treatment drug, which reduced the size of tumors dramatically in 38% of the patients who took the medication. Although the treatment is still in the early stages of testing, those encouraging results have given investors hope that Merck is on the verge of a really big breakthrough. The FDA has also already given the drug the “breakthrough therapy” designation, which will allow it to pass through the approval process more quickly.

Intel Corporation (NASDAQ:INTC)’s catalyst today came from two sources — an analyst, and Samsung. The analyst was from FBR and upgraded Intel from “market perform” to “outperform.” Its price target on the stock is now $28, as FBR believes that Intel’s growth will continue despite the slowdown in PC sales. The expected growth will probably come from the mobile market, which was the other reason Intel rose today. Last Friday, reports began swirling that Samsung is going to be using Intel chips in its new Galaxy tablet. The news was confirmed today.

2 Dow losers
Shares of Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) ended the day as the two worst-performing Dow stocks and the only two components that ended the day in the red. Bank of America lost 0.81%, while JPMorgan was cut lower by 0.18%. Investors with money in the banks may be concerned with the short-term effects that rising interest rates will have on profits. But Bank of America fell slightly more than JPMorgan as it went back in front of a judge again today to discuss the $8.5 billion settlement it has with investors. While some argue that the amount is fair, others, led by American International Group Inc (NYSE:AIG), claim it’s too small, considering the amount of outstanding claims against the company. It’s been estimated that B of A could be liable for up to $60 billion, but most believe that figure is much higher than what it will ultimately end up paying.

The article 2 Big Winners and 2 Big Losers in the Dow Today originally appeared on Fool.com.

Fool contributor Matt Thalman owns shares of Bank of America and JPMorgan Chase. 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 AIG and Intel, owns shares of AIG, Bank of America, Intel, and JPMorgan Chase,. and has options on AIG.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!