Alcoa, Microsoft, Verizon: Dow Movers

NEW YORK (TheStreet) -- It was a mixed day for U.S. stocks on Wednesday with buyers taking a breather after the strong rally in the previous session.

The Dow Jones Industrial Average finished up 22 points, or 0.17%, at 12,418.42, while the S&P 500 rose less than a point, and the Nasdaq ticked lower. Aluminum producer Alcoa(AA) was one of the Dow's biggest percentage gainers, rising 2.4% to $9.45. Traditionally the first blue chip to report each quarter, the company is scheduled to release its fourth-quarter results on Jan. 10 with Wall Street expecting a profit of a penny per share on revenue of $5.78 billion. Jim Cramer anticipates a disappointing earnings report from Alcoa, and believes this could put a stop to the recent rally in cyclical stocks. Microsoft(MSFT) was another standout, also rising 2.4% to close at $27.40. Microsoft is suing British electronics retailer Comet for allegedly selling counterfeit Windows operating system recovery CDs, according to Reuters. In other news, the Redmond, Wash.-based tech company also settled a lawsuit with a Florida novelty company regarding advertising, the Puget Sound Business Journal reported. Microsoft shares haven't done much in the past year, sliding 4% overall as the Dow booked a 6%-plus gain in 2011. The stock is relatively cheap though, trading at a forward price-to-earnings ration of 9X vs. 12.8X for the S&P 500. Breadth within the Dow was positive with 20 of the 30 components moving higher. Verizon Communications(VZ) was the biggest loser among the blue chips, giving back 1.3% to settle at $39.21, following comments from the company's chief financial officer that said margins were being hurt by the addition of Apple's(AAPL) iPhone to its product offerings. Verizon shares are up 5.5% in the past year, and the stock hit a 52-week high of $40.48 during Tuesday's rally. --Written by Alexandra Zendrian in New York. >To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: tips@thestreet.com. >To follow the writer on Twitter, go to Alexandra Zendrian.>To order reprints of this article, click here: Reprints

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