Georgia companies see stocks dip after market closes on Friday 


Friday’s selloff cut across industries and pounded a number of major Georgia companies. Few segments were spared. 

Some of the state’s biggest players, including Aflac (-0.83 percent), Coca-Cola (-1.52 percent), Delta Air Lines (-3.19 percent), Home Depot (-2.97 percent), Mohawk Industries (-1.99 percent), SunTrust Banks (-2.7 percent) and UPS (-2.54 percent), all were down. 

The catalyst for Friday’s fall appeared to be a government report that showed the strong United States economy might finally be translating into rising wages for American workers, according to the New York Times.

While rising pay is good for workers, it also can be a sign that inflation is coming, the newspaper reported. And investors worried it could prompt the Federal Reserve to raise interest rates faster than expected. That is unnerving for investors accustomed to the last decade’s rock bottom rates. 

Company / Closing Price / Share price decline / % decline

 

Aflac  $88.95 / -$0.74 / -0.83 percent

 

Coca-Cola $46.73 / -$0.72 / -1.52 percent

 

Delta Air Lines $54.62 / -$1.80 / -3.19 percent

 

Home Depot $193.97 / -$5.93 / -2.97 percent

 

Mohawk Industries $270.58 / -$5.50 / -1.99 percent

 

SunTrust Banks $69.48 / -$1.93 / -2.7 percent

 

UPS $116.47 / -$3.04 / -2.54 percent

Source: Yahoo Finance


Reader Comments ...


Next Up in Business

Equifax wants judge to reject suits by banks
Equifax wants judge to reject suits by banks

Equifax has asked a federal judge to reject the claims from 46 banks and credit unions for payment of damages because of last year’s massive data breach at the Atlanta-based company. The companies, which are based in 29 states, sued Equifax and claimed that Equifax owes them for all the costs they incurred after the data breach was...
Georgia jobless rate at 17-year low; trade war a worry
Georgia jobless rate at 17-year low; trade war a worry

Georgia’s economy had a strong June, adding 14,200 jobs while the unemployment rate slipped to its lowest level in 17 years. In a sign of strong hiring, the jobless rate is slipped from 4.2 percent in May to 4.1 percent while adding more than 10,000 people to the labor force, according to Georgia Department of Labor. Since June of last...
Delta relaunches Atlanta-Shanghai route, key link to China
Delta relaunches Atlanta-Shanghai route, key link to China

Delta Air Lines is reconnecting a key link between the Southeast and China with the resumption of flights from Atlanta to Shanghai this week. It’s the culmination of a years-long effort to bring the service back, after years with no nonstop flights between the world’s busiest airport and China. Delta CEO Ed Bastian said Shanghai...
Paulding airport says lease still calls for commercialization effort
Paulding airport says lease still calls for commercialization effort

Paulding County’s airport may try again to commercialize and attract airline flights, after its last effort was brought to an end by the Federal Aviation Administration. That’s because a long-term lease with an airport partner could obligate it to do so, according to the Paulding airport director. That company, Silver Comet Terminal Partners...
Super Bowl prep underway in Atlanta, 200 days in advance
Super Bowl prep underway in Atlanta, 200 days in advance

The Super Bowl is still 200 days away. But thousands of hotel rooms are already booked, tens of millions of dollars are already invested and hundreds of companies are vying for the right to supply things like carpeting, catering, ice, flowers, golf carts, paint, piping and portable potties. With Atlanta getting its third chance as the site of the game...
More Stories