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Midday Leaders&Laggards: DJIA

AP ONLINE

Posted: 2008-05-07 12:31:45

NEW YORK (AP) _ Shares of American Express Co. took the largest midday loss among Dow Jones industrial average stocks Wednesday as financial companies came under pressure.

With 22 of its 30 component stocks losing ground, the blue chip index declined 64.65 points to 12,958.18.

American Express shares lost $1.06, or 2.1 percent, to $49.91.

Insurer American International Group Inc. fell $1.38, or 2.9 percent, to $47.02.

JPMorgan Chase&Co. shed 70 cents to $47.50. After meeting with Chase Card Services Chief Executive Gordon Smith, Citi Investment Research analyst Keith Horowitz said business for Chase will be difficult until late 2009 at the earliest, but he raised his target price to $50 per share from $41.

The Walt Disney Co. took the largest gains after the company said its second-quarter profit grew 22 percent and revenue rose 10 percent. Both totals surpassed analyst estimates, and the stock picked up $1.12, or 3.3 percent, to $34.85.

Shares of International Business Machines Corp. gained $2.09 to $124.41.

Computer and printer maker Hewlett-Packard Co. rose 79 cents to $49.43.