Apple was the Lone Holdout in the Dropping Dow

Stocks were way down in trading today, with all three major indexes posting big losses. The Dow lost 178 points over the course of the day, dropping to 17,966.07. The NASDAQ was down 37.69 to close the day at 5,122.41. The S&P 500 fell 15.62 points to close at 2,108.58.

Everything But Apple (AAPL) Down in the DJIA

Every company in the Dow Jones Industrial Average got hit hard today, with the sole exception of Apple (AAPL). To some extent that's because Apple itself is unique right now, with a strong brand awareness that compels some people to snatch up stock when it floods the market.
And that's exactly what happened today, as people unloaded the rest of the index but kept buying Apple.

Among the stocks that fell today, some of the biggest names that fell the furthest were 3M (MMM), Goldman Sachs (GS), and Boeing (BA).  Du Pont (DD) and UnitedHealth (UNH) also dropped on the day. 3M lost 2.30 points to close at $157.54. Boeing was down nearly a point and a half to $143.00. Goldman lost 4 points and closed down to $214.43. Du Pont and UnitedHealth were down 2.30 and 3.57 points respectively. Du Pont closed at $66.20, while UnitedHealth ended the day at $119.17 per share.

On the other hand, Apple (AAPL) posted a strong day. It gained over a point in trading, and closed the day at $128.11, down from highs of over $132 six weeks ago. The device giant is relying on strong overseas sales to fuel growth going forward, while using the strength of its brand to keep a healthy consumer base at home.

Monsanto (MON) Down on Lagging Revenues

Industrial agricultural giant Monsanto (MON) went public with their earnings today, and suffered a selloff because of it. It wasn't the earnings themselves that were the problem, but rather the dip in projected revenues that had shareholders bailing on the company. Shares of Monsanto fell by more than 6 points on the report, and Monsanto closed the day at $106.32.

Staples (SPLS) Falling On Worries of Rejected Office Depot (ODP) Merger

The worry is that a recently rejected merger between Sysco (SYY) and US Foods could spell doom for the Staples (SPLS) and Office Depot (ODP) pairing. The merger, which was rejected late yesterday, could have implications across different industries, which is exactly the worry for Staples. Shares of Staples fell by 4% today, and closed at $15.85.
Published on Jun 24, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

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