Stock Market Ends Mixed, Some Leaders Tumble


⁠The broad averages ended mixed with higher volume Monday, but a good number of leaders took some nasty hits. The Dow Jones industrial average climbed 0.6%, while the S&P 500 slipped a smidge. But the Nasdaq fell 0.8%. The tech-intensive index was weighted down by declines among some of its biggest stocks, including Apple (AAPL), Priceline (PCLN) and Google (GOOG). Volume increased 10% on the Nasdaq and 4% on the NYSE, according to preliminary data.

Apple fell 4%, Priceline 5% and Google 3%, all in heavy volume. Priceline put in its fourth loss in five sessions, and its biggest one-day loss in five months. The stock had been on a tear since breaking out from a cup-with-handle base in February. But recent losses have come in heavy volume.

Starbucks (SBUX) notched a new high — by 2 cents — then reversed lower to close off 3% with fast trade. Starbucks has been under heavy accumulation in recent weeks as it announced a number of new growth initiatives. The stock is still 22% past a 49.46 buy point from a four-weeks-tight pattern.

Chipotle Mexican Grill (CMG), which notched a new record high Friday, backed off Monday 2% in heavy volume. Last week, the stock logged a 17th straight weekly gain. The fast-casual burrito chain reports Q1 results Thursday. Earnings are seen rising 32% to $1.93 a share. Sales are expected to rise 24% to $630.65 million.

Chip designer InvenSense (INVN) started out the session on the right foot, but quickly turned its early 3% gain into a 6% loss. The once-hot new issue has gotten crushed since peaking March 26 at 22.35.

Seagate Technology (STX), which will report Tuesday, lurched ahead 4% in fast action. The U.K.-based hard-disk drive maker rose past its 28.73 buy point from a flat base. The company was featured Monday in IBD’s International Leaders section.