Huntsville stocks take big hits
It was a bear of a day Wednesday on our Huntsville and Alabama Stock Report as several stocks of local interest saw significant drops.
Adtran led the decliners at -6% to close at $7.04, 4 cents off a 52-week low. Johnson Controls fell 4.3% to finish at a 52-week low of $50.54. Constellium lost 4% to end at a 52-week low of $16.30.
On the bright side, Lockheed Martin led a quartet of gainers at 1.1%.
Overall, Wall Street dropped Wednesday after rising Treasury yields tightened the vise further on the stock market and big U.S. companies delivered a mixed set of profit reports. Worries about war in the Middle East also dragged on the market.
The S&P 500 sank 1.3%. The Dow Jones Industrial Average dropped 332 points, or 1%, and the Nasdaq composite lost 1.6%.
Crude oil prices jumped sharply overnight following a deadly explosion at a hospital in the Gaza Strip, which sparked protests across the Middle East. Gold, meanwhile, rose as investors continue to look for safer investments following the Oct. 7 surprise attack on Israel by Hamas.