Published August 23, 2012
During trading today, the Services sector (IYC) showed little change while the S&P 500 fell 0.8%.
Although it moved in the opposite direction of the market, the ETF tracked closer to the overall market today than it has over the past week. Going into trading today, IYC was down 0.4% over the last seven trading days. The S&P 500, in comparison, was down 0.9%.
Fred's (FRED) was a major loser in the sector. Its price dropped 10.2% (-$1.55) to close at $13.64, as 926,730 shares moved. The stock traded in a range of $13.37 to $14.94. The stock has been dropping recently, and shares are down $1.95 (-12.5%) from a price of $15.59 on August 16, 2012.
General Growth Properties (GGP) was a significant gainer in the sector, rising 9.7%. The stock closed at $20.32 with 43.6 million shares moving. The stock traded in a range of $18.35 to $21.12.
Dollar Thrifty Automotive Group (DTG) rose 5.2% to close at $79.68, crossing its 50-day moving average of $77.29. Meanwhile, United Rentals (URI) dropped 2.8% to close at $31.97, moving below its 200-day moving average or $35.95.
The Advisory Board Company (ABCO) rose 4.1% to close at $43, approaching its 50-day moving average of $45.37. It has also moved closer to its 200-day moving average of $70.41. Darden Restaurants (DRI) fell 2.6% to close at $51.45, moving down to 1.7% above its 200-day moving average of $50.57.