Monster Beverage Corp (MNST), Honda Motor Co Ltd (ADR) (HMC), Toyota Motor Corporation (ADR) (TM): Dow (.DJI) Can’t Win ‘Em All

Page 1 of 2

Editor’s note: This article was originally published yesterday, post-market close.

After several days of gains, stocks finally had an off day today, as all three major indexes were down. The S&P 500′s streak of five straight record closes was broken, and the Dow Jones Industrial Average finished down slightly, by 23 points, or 0.15%.

There were no major catalysts pushing stocks down today as the momentum that carried equities to record levels over the past few days simply seemed to run out of fuel. There was one promising piece of economic data out today however, coming from the Labor Department, which said initial unemployment claims totaled just 323,000, hitting a five-year low for the second week in a row. Continuing jobless claims also came in below estimates, falling to 3.005 million. Both reports indicate that the job market is continuing to improve despite fears of the contrary.

In other economic news, the dollar rose to a four-year high against the yen. This was bad news for companies with strong sales in the Land of the Rising Sun, including Monster Beverage Corp (NASDAQ:MNST), which was down 5.2% on a poor earnings repor. However, it was a boon for Japanese exporters, such as automakers Honda Motor Co Ltd (ADR) (NYSE:HMC) and Toyota Motor Corporation (ADR) (NYSE:TM).

Monster Beverage CorpOn the Dow today, JPMorgan Chase & Co. (NYSE:JPM) was the biggest loser, falling 1.5% after getting sued by the State of California, in news released after hours. The state’s attorney general said the banking giant used faulty practices in debt collection lawsuits filed between 2008 and 2011. The lawsuit comes amid a tempest of negative attention on JPMorgan, as several institutional shareholders have called for CEO Jamie Dimon to step down from his chairmanship post on the board of directors.

AT&T Inc. (NYSE:T) shares were also off 1.3% after launching a new prepaid wireless option through its Aio Wireless subsidiary, hoping to compete with Sprint Nextel Corporation (NYSE:S) and T-Mobile, which offer similar payment plans. Hedge-fund manager Jonathan Jacobson also called out AT&T at an investor conference this morning, saying it may not be able to sustain the cash flow to support its high-yielding dividend, as “wireline is a melting ice cube and wireless is becoming more competitive.”

Page 1 of 2

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!