Closing Bell

Garmin slides following Tuesday’s big gain

Updated: 2013-04-03T20:53:57Z

A day after Garmin Ltd. climbed more than 6 percent on a business order with Mercedes-Benz, the satellite navigation company gave back about a third of it Wednesday.

Shares in the Olathe-based company fell 2.4 percent to close at $33.43.

It had plenty of company among regional stocks. All the major companies finished the day on the loss side of the ledger. Among the casualties: Cerner, down $.1%; Kansas City Southern, down 1.3%; Layne Christensen, down 1.9%; Commerce Bancshares, off 1.1%; and UMB Financial, down 1.5%.

Overall, stocks closed broadly lower following weak reports on the U.S. economy. The Dow Jones industrial average fell 111 points, or .8%, its worst drop in more than a month.The Dow ended at 14,550 Wednesday, a decline of 0.8 percent.

Other indexes fell more. The Standard & Poor's 500 fell 1.05 percent, or 16 points, to close at 1,553. The Dow and S&P closed at record highs the day before.

The Nasdaq lost 1.1 percent, or 36 points, to 3,218.

Small company stocks had the worst declines. The Russell 2000 fell 1.7 percent, or 15 points, to 918.

Hiring and service industry growth weakened last month.

Three stocks fell for every one that rose on the New York Stock Exchange. Volume was heavier than usual, 4 billion shares

The BATS 1000 fell 195.66 points, or 1.10 percent, to close at 17,519.62.

Regional stocks

Capitol Federal Financial fell 2 cents, or 0.17%, to close at $11.90.

Cerner Corp. fell $1.98, or 2.09%, to close at $92.84.

Commerce Bancshares Inc. fell 43 cents, or 1.08%, to close at $39.32.

Compass Minerals fell 16 cents, or 0.20%, to close at $78.42.

DST Systems Inc. fell 16 cents, or 0.23%, to close at $70.41.

Ferrellgas Partners L.P. fell 9 cents, or 0.48%, to close at $18.72.

Garmin Ltd. fell 82 cents, or 2.39%, to close at $33.43.

Great Plains Energy fell 37 cents, or 1.60%, to close at $22.72.

H&R Block Inc. fell 51 cents, or 1.74%, to close at $28.73.

Inergy L.P. fell 20 cents, or 0.96%, to close at $20.68.

Kansas City Life Insurance Co. fell 12 cents, or 0.33%, to close at $36.48.

Kansas City Southern fell $1.37, or 1.29%, to close at $104.46.

Layne Christensen Co. fell 39 cents, or 1.88%, to close at $20.33.

O'Reilly Automotive Inc. fell 90 cents, or 0.86%, to close at $103.48.

Sprint Nextel Corp. fell 7 cents, or 1.12%, to close at $6.16.

UMB Financial Corp. fell 74 cents, or 1.53%, to close at $47.68.

Waddell & Reed Financial Corp. fell $1.65, or 3.82%, to close at $41.54.

YRC Worldwide Inc. fell 38 cents, or 5.23%, to close at $6.89.

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