SPX and Other Capital Goods Stocks Making Big Moves on November 9, 2012

By Investopedia Staff | November 09, 2012 AAA

The market is currently up, with the Nasdaq climbing 0.9%, the S&P 500 up 0.5% and the Dow increasing 0.2%. The capital goods sector is the category of stocks related to the manufacture or distribution of goods. The sector is diverse, containing companies that manufacture machinery used to create capital goods, electrical equipment, aerospace and defense, engineering and construction projects. It is also referred to as the "industrials sector". Performance in the capital goods sector is sensitive to fluctuations in the business cycle. Because it relies heavily on manufacturing, the sector does well when the economy is booming or expanding. As economic conditions worsen, the demand for capital goods drops off, usually lowering the prices of stocks in the sector.

The Capital Goods sector (XLI) is up 0.5%, underperforming the market overall. The biggest movers in the sector are currently:

Company Market Cap Percentage Change
Alliant Techsystems (NYSE:ATK) $1.86 billion +3.8%
SPX (NYSE:SPW) $3.31 billion +2.9%
Beacon Roofing Supply (Nasdaq:BECN) $1.47 billion +2.8%
KB Home (NYSE:KBH) $1.25 billion -2.6%
M.D.C. Holdings (NYSE:MDC) $1.81 billion -2.6%
HEICO (NYSE:HEI) $2.02 billion +2.2%
DXP Enterprises (Nasdaq:DXPE) $666 million -2.1%

Broker Summary: E-Trade Financial

Alliant Techsystems (NYSE:ATK) is currently trading at $59.27 per share, a 3.8% increase. The company's volume is currently 165,083 shares for the day, with trading activity in keeping with yesterday's while it was 365,985 shares yesterday.

SPX (NYSE:SPW) is at $67.13 per share after an increase of 2.9%. The company's volume for the morning is 157,117 shares. This is 0.2 times the average daily volume.

Beacon Roofing Supply (Nasdaq:BECN) has increased to a share price of $32.08, a 2.8% rise. So far today, the company's volume is 223,696 shares, 0.3 times its average over the past three months.

KB Home (NYSE:KBH) is trading at $15.80 per share, down 2.6%. The company is currently trading a volume of 3.5 million shares.

M.D.C. Holdings (NYSE:MDC) has fallen 2.6% and is currently trading at $36.22 per share. At 378,074 shares, the company's volume so far today is.

HEICO (NYSE:HEI) has risen 2.2% to hit a current price of $39.13 per share. So far today, the company's volume is 26,794 shares. This is 0.2 times the current daily average.

Currently trading at $46.02 per share, DXP Enterprises (Nasdaq:DXPE) has fallen 2.1%. With 23,722 shares changing hands so far today, the company's volume is consistent with its average over the last three months.

The Bottom Line No matter the economic climate, Wall Street will always have stocks that make major moves each week. Daily stock performance should be weighed against historical performance and put in context of the market overall. Keep in mind that all these ratios should be compared against historical numbers and industry information in order to get a more complete picture.

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