Closing Bell | Sprint falls third consecutive day; Cerner, O’Reilly slide

A bad day for regional stocks was punctuated by the ongoing slide in Sprint stock.

For the third consecutive day, shares in Sprint fell — this time 9 cents, or 1.6 percent. So far this week, shares in the region’s largest public company have fallen more than 6 percent. Two analysts downgraded the stock on Monday.

Sprint was hardly alone on the downside of the market. Cerner lost 2 percent, O’Reilly Automotive lost 1.7 percent, and Kansas City Southern fell 0.4 percent.

The winners included both Commerce Bancshares and UMB Financial, along with Capitol Federal Financial and H Block.

On Wall Street, more problems for Boeing’s 787 sent the aircraft maker’s stock down sharply Wednesday, dragging the Dow Jones industrial average lower.

Japan’s two biggest airlines grounded all their Boeing 787s for safety checks Wednesday after one was forced to make an emergency landing. The plane, known as the Dreamliner, has been plagued by a series of problems this year, including a battery fire and fuel leaks. Boeing’s stock sank $2.60 to $74.34, a loss of 3 percent.

The Dow lost 23.66 points to close at 13,511.23. Without Boeing’s drop, the Dow would have ended the day nearly flat.

The Standard Poor’s 500 index inched up 0.29 to 1,472.63. A gain in Apple helped pull the Nasdaq composite up 6.77 points to 3,117.54.

The BATS 1000 fell 28.22 points, or 0.17 percent, to close at 16,599.15.

Apple rose $20.17 to $506.09, ending a three-day slide. The world’s largest publicly traded company closed below $500 on Tuesday for the first time in nearly a year. Concerns that the popularity of its iPhone is waning have pushed Apple’s stock down 5 percent this month.

Goldman Sachs and JPMorgan Chase, the country’s largest bank, rose after both posted quarterly results that trounced analysts’ estimates.

Harry Clark, chairman of Clark Capital Management Group in Philadelphia, described JPMorgan’s numbers as staggering. The bank’s quarterly earnings jumped 55 percent and total revenue for the year hit $100 billion.

“Their earnings are just ridiculously good,” Clark said. “It shows you that these giants can make money in any type of environment.”

Slightly smaller financial firms, such as Northern Trust and Bank of New York Mellon, reported weaker earnings and their stocks sank.

JPMorgan Chase gained 47 cents to $46.82. The bank’s stunning results were offset by an internal review of a $6 billion trading loss on credit derivatives. JPMorgan’s board of directors criticized executives for failing to keep the board informed of potential problems and using unapproved models for measuring trading risks.

Goldman Sachs gained $5.50 to $141.09, a 4 percent jump. The investment bank’s profits nearly tripled in the fourth quarter of last year. Goldman’s bond underwriting business had its best year since the financial crisis, thanks to strong demand for fixed-income investments and companies lining up to borrow at historically cheap rates.

Analysts forecast that companies in the S 500 will report a 3.2 percent increase in fourth-quarter earnings. Financial firms and consumer-discretionary companies are expected to post the biggest growth, according to S Capital IQ.

The Labor Department said consumer prices were flat last month as gas prices sank. The December reading of the consumer price index capped a year of tame inflation. Consumer prices increased just 1.7 percent in 2012, down from 3 percent in 2011.

The report led traders to push up prices for Treasurys, knocking yields down. The 10-year Treasury note’s yield slipped to 1.82 percent. The yield, used to set mortgages and a wide variety of other loans, ended Tuesday at 1.84 percent.

Regional stocks

Capitol Federal Financial rose 5 cents, or 0.42%, to close at $11.93.

Cerner Corp. fell $1.64, or 2.03%, to close at $79.06.

Commerce Bancshares Inc. rose 30 cents, or 0.82%, to close at $36.80.

Compass Minerals rose 12 cents, or 0.16%, to close at $72.93.

DST Systems Inc. fell 9 cents, or 0.14%, to close at $63.07.

Ferrellgas Partners L.P. rose 3 cents, or 0.17%, to close at $18.20.

Garmin Ltd. fell 20 cents, or 0.50%, to close at $39.83.

Great Plains Energy fell 8 cents, or 0.38%, to close at $20.78.

H Block Inc. rose 11 cents, or 0.57%, to close at $19.39.

Inergy L.P. fell 18 cents, or 0.89%, to close at $20.02.

Kansas City Life Insurance Co. fell 16 cents, or 0.43%, to close at $37.23.

Kansas City Southern fell 33 cents, or 0.38%, to close at $86.57.

Layne Christensen Co. fell 10 cents, or 0.43%, to close at $23.36.

O'Reilly Automotive Inc. fell $1.55, or 1.73%, to close at $88.17.

Sprint Nextel Corp. fell 9 cents, or 1.60%, to close at $5.53.

UMB Financial Corp. rose 7 cents, or 0.15%, to close at $45.47.

Waddell Reed Financial Corp. rose 4 cents, or 0.11%, to close at $38.14.

YRC Worldwide Inc. fell 3 cents, or 0.45%, to close at $6.66.