The three major U.S. indices were down during midday trading Tuesday as 10- and 30-year Treasury yields fell. The 10-year Treasury yield tumbled to 1.34%, down from 1.44% last week, while the 30-year Treasury dipped to 2.12% from 2.25% a week prior.
Shares of Southwestern Energy (SWN) -- part of Real Money's Stressed Out watch list -- slid 12% as crude oil prices continued to drop; oil prices were down more than 5%, to around $46 per barrel. This comes following news that the U.S. has more oil reserves than Saudi Arabia and Russia. Fellow Stressed Out member Chesapeake Energy (CHK) was also declining Tuesday, down more than 7%.
Harley-Davidson (HOG) shares took a hit, falling some 11% during the trading session after Robert W. Baird analysts said there was "no information that would corroborate takeout speculation surrounding the company." This follows reports of a potential takeover by private equity firm KKR & Co. (KKR).
Netflix (NFLX) shares popped on news that cable giant Comcast (CMCSA) will allow the internet video streaming service onto its X1 platform, according to a Re/Code report. Details on the deal are limited thus far, but the service will be available to consumers later this year, Re/Code reported. This comes after Needham analysts downgraded Netflix to Hold from Buy, saying exposure to Europe should accelerate slow subscriber growth. Comcast is a holding in TheStreet's Action Alerts PLUS portfolio.
Lastly, American Express (AXP) shares stumbled more than 2% in midday trading after announcing a new online program for small-business cardholders to submit and have loans approved in minutes. The new program is called Working Capital Terms and looks to challenge competition from startups such as Square (SQ), LendingClub (LC) and On Deck Capital (ONDK) -- all of which were down during the trading session. Debts under AmEx's Working Capital Terms may range from $1,000 to $750,000 with fees of 0.5% for a 30-day loan to 1.5% for a 90-day loan, according to Bloomberg.
-- Written by Anders Keitz