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I don't think a Dow component has ever been halted before, so this is highly unusual. Shares crashed more than 5.5% in the 30m or so before it was halted.

by tempsy 7y ago

londons_explore 7y ago
I hope everyone who sold in those 30 minutes has a good non-insider-trading story. Stock markets seem full of insider traders who are rarely punished, and who keep people like me from investing.
- Macha 7y ago
  From the video: The FAA have already announced it may be June/July before the 737 can be reapproved, and the previous guidance was April/May. That's the news that caused the initial drop, but apparently there's further news to come that caused the halt. EDIT: Apparently the further news was just Boeing's confirmation of the above.
ceejayoz 7y ago
https://investorplace.com/2019/10/merck-and-pfizer-boosted-the-dow-jones-today-thanks-to-upped-guidance/ https://investorplace.com/2019/10/merck-and-pfizer-boosted-t... > Shares of Johnson & Johnson (NYSE:JNJ) were halted in late trading pending release of news. The news turned out to be that Johnson and Johnson said it found no asbestos in the baby powder it recalled. JNJ was trading slightly lower prior to the trading stop, but is up over 3% after the close. (J&J is a Dow component.) https://www.sec.gov/fast-answers/answerstradinghalthtm.html https://www.sec.gov/fast-answers/answerstradinghalthtm.html > A trading halt—which typically lasts less than an hour but can be longer—is called during the trading day to allow a company to announce important news or where there is a significant order imbalance between buyers and sellers in a security.
sergiomattei 7y ago
Was it a circuit breaker tripping? Afaik markets often implement them to halt trading if the stock dips too fast too quick.
- tempsy 7y ago
  It was planned given the news, but clearly something leaked beforehand because it dropped significantly in the minutes prior to the halt.
BinaryIdiot 7y ago
> I don't think a Dow component has ever been halted before, so this is highly unusual. What do you mean? Stocks get halted all the time especially before big news.
- deleted 7y ago
  [deleted]
- tempsy 7y ago
  Dow component... Though someone mentioned JNJ did. Otherwise it's very uncommon for a blue chip to be halted.
  - dmurray 7y ago
    AAPL had a trading halt last January [0], pending a profit warning. Google will likely find dozens if not hundreds more halts in Dow components. [0] https://thefly.com/landingPageNews.php?id=2842788 https://thefly.com/landingPageNews.php?id=2842788

I don't think a Dow component has ever been halted before, so this is highly unusual. Shares crashed more than 5.5% in the 30m or so before it was halted.

by tempsy 7y ago

I don't think a Dow component has ever been halted before, so this is highly unusual. Shares crashed more than 5.5% in the 30m or so before it was halted.

londons_explore 7y ago

I hope everyone who sold in those 30 minutes has a good non-insider-trading story. Stock markets seem full of insider traders who are rarely punished, and who keep people like me from investing.

Macha 7y ago
From the video: The FAA have already announced it may be June/July before the 737 can be reapproved, and the previous guidance was April/May. That's the news that caused the initial drop, but apparently there's further news to come that caused the halt. EDIT: Apparently the further news was just Boeing's confirmation of the above.

ceejayoz 7y ago

https://investorplace.com/2019/10/merck-and-pfizer-boosted-the-dow-jones-today-thanks-to-upped-guidance/ https://investorplace.com/2019/10/merck-and-pfizer-boosted-t... > Shares of Johnson & Johnson (NYSE:JNJ) were halted in late trading pending release of news. The news turned out to be that Johnson and Johnson said it found no asbestos in the baby powder it recalled. JNJ was trading slightly lower prior to the trading stop, but is up over 3% after the close. (J&J is a Dow component.) https://www.sec.gov/fast-answers/answerstradinghalthtm.html https://www.sec.gov/fast-answers/answerstradinghalthtm.html > A trading halt—which typically lasts less than an hour but can be longer—is called during the trading day to allow a company to announce important news or where there is a significant order imbalance between buyers and sellers in a security.

sergiomattei 7y ago

Was it a circuit breaker tripping? Afaik markets often implement them to halt trading if the stock dips too fast too quick.

tempsy 7y ago
It was planned given the news, but clearly something leaked beforehand because it dropped significantly in the minutes prior to the halt.

BinaryIdiot 7y ago

> I don't think a Dow component has ever been halted before, so this is highly unusual. What do you mean? Stocks get halted all the time especially before big news.

deleted 7y ago
[deleted]
tempsy 7y ago
Dow component... Though someone mentioned JNJ did. Otherwise it's very uncommon for a blue chip to be halted.
- dmurray 7y ago
  AAPL had a trading halt last January [0], pending a profit warning. Google will likely find dozens if not hundreds more halts in Dow components. [0] https://thefly.com/landingPageNews.php?id=2842788 https://thefly.com/landingPageNews.php?id=2842788