In the news from CNNMoney: Mystery E. Coli outbreak causes Chipotle profit to fall by 44 percent. Former U. S. Sec. of State Madeleine Albright said Saudis could act to hike oil prices, but will not. The spread of Zika Virus could affect U. S. business: Jet Blue gets 30 percent of revenue from Latin America; electric company AES receives 66 percent of earnings from the region; Coca Cola, American Airlines and Pepsi each get ten percent of their revenue from Latin America. Falling oil prices drop Dow, lead to $1 billion budget shortfall in North Dakota.
On the Big Board:
The Dow Jones Industrial Average fell hard -1.80 percent, -295.64 points, to close at 16,153.54.
The NASDAQ plummeted more than the other two major indices, -2.24 percent, -103.42 points to end at 4,516.95.
The S&P 500 also fell, dropping -1.87 percent, -36.35 points, to finish at 1,903.03.
Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) lost -1.98 percent to finish at 985.3. Most MH-related stocks we follow closed down or even, although Deer Valley Corp. gained more than other tracked stocks, +8.62 percent, +0.05 points, to close at $0.63. Nobility Homes dropped more than other tracked stocks, -11.64 percent, -1.60 points to close at $12.15. Other MH-related stocks fell big—AMG dropped -7.26 percent, Cavco lost -5.45 percent, Carlyle lost -4.41 and LPX dropped -4.24 percent.
As of 4 PM ET, CNNMoney Finance tells MHProNews:
Affiliated Managers Group, Inc. (NYSE: AMG) $122.60 -9.60 (-7.26%).
Berkshire Hathaway Inc. (NYSE:BRK.A) – parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers – $189,902 -4,857. (-2.49%).
Carlyle Group (NASDAQ:CG) $12.79 -0.59 (-4.41%).
Cavco Industries, Inc. (NASDAQ:CVCO) $78.39 -4.54 (-5.45%).
Deer Valley Corporation (OTCMKTS:DVLY) $0.63 +0.05 (+8.62%).
Drew Industries, Inc. (NYSE:DW) $57.71 -0.37 (-0.64%).
Equity LifeStyle Properties, Inc. (NYSE:ELS) $67.06 -0.36 (-0.53%).
Killam Properties Inc. (TSE:KMP) $10.19 -0.18 (-1.74%). (Jan.6)
Liberty Homes, Inc. (OTCMKTS:LIBHA) $0.02 0.00 (0.00%). (Dec.31)
Louisiana-Pacific Corporation (NYSE:LPX) $15.12 -0.67 (-4.24%).
Nobility Homes Inc. (OTCMKTS:NOBH) $12.15 -1.60 (-11.64%)
Patrick Industries, Inc. (NASDAQ:PATK) $34.89 -0.01 (-0.03%).
Skyline Corporation (NYSE:SKY) $4.58 +0.03 (+0.66%).
Sun Communities Inc. (NYSE:SUI) $67.79 -0.13 (-0.19%).
Third Avenue Value Instl (OTCMKTS:TAVFX) $44.47 -0.32 (-0.71%).
UMH Properties, Inc. (NYSE:UMH) $9.25 -0.14 (-1.49%).
Universal Forest Properties, Inc. (NYSE:UFPI) $64.61 -1.81 (-2.73%). ##
(Graphic credit: CNNMoney)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.