After Market: Investors Give Thumbs Up to Jobs Report, Thumbs Down to Russia

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Another volatile week on Wall Street ended with a whimper Friday. The market rallied early on the back of a better-than-expected jobs report, but the gains quickly faded. Tensions over the situation in Ukraine prompted investors to take a cautious stance heading into the weekend.

The Dow Jones industrial average (^DJI) rose 30 points, the Standard & Poor's 500 index (^GPSC) added 1 point, but the Nasdaq composite (^IXIC) fell 16 points. Despite the day's loss, the Nasdaq rang up its fifth straight weekly gain. It's up about 3.5 percent so far this year.

The retail sector has had a tough week, with Staples (SPLS), Radio Shack (RSH) and others suffering big losses. But there were two big winners in the sector Friday.
Big Lots (BIG) jumped 23 percent as earnings and sales beat expectations. Still, the stock is a bit lower than it was a year ago. Foot Locker (FL) rose 9 percent. It too topped expectations.

Gap (GPS) edged higher, and that has to be considered a win for shareholders after the company posted a big drop in sales last month. And Delia's (DLIA) rose 11 percent as a big investment firm raised its stake in the company to more than 6 percent.

Biotechs continued to lose momentum. Regeneron (REGN) fell 3 percent after the FDA raised questions about potential side effects from a new cholesterol medication the company is developing with Sanofi (SNY).

Biogen (BIIB) fell 3.5 percent and Illumina (ILMN) lost 1.5 percent.

Analogic (ALOG) dropped 16 percent. The maker of medical imaging systems posted a surge in earnings, but it wasn't big enough to meet expectations.

But some alternative energy companies rallied. Plug Power (PLUG) jumped 30 percent. Fuel Cell (FCEL) gained 17 percent after the Energy Department extended a contract for a fuel cell plant in Connecticut.

Elsewhere, headphone maker Skullcandy (SKUL) jumped 25 percent. Net fell but still beat expectations. Advanced Micro Devices (AMD) rose 6 percent in heavy trading.

Coupons.com (COUP) had a spectacular debut. It nearly doubled in price from its $16 a share IPO. But FireEye (FEYE) fell 10 percent after pricing a secondary offering at a pretty steep discount to Thursday's closing price.

What to Watch Monday:
  • Chicago Federal Reserve President Charles Evans speaks on the economy and monetary policy in Columbus, Ga., at 12:40 p.m. Eastern time.
  • Urban Outfitters (URBN) reports quarterly earnings after U.S. markets close.
-Produced by Drew Trachtenberg.


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8 Comments

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alfredschrader

Also on here is a story that the Mall is dead. It's not dead, it's changing. Why it's changing is one third of the US population is obese, and two thirds are overweight. You can't put a fashion mecca like Macy's under the same roof as the pizza restaurant and have obese people strolling as the fashionistas walk by. Wont work, too much peer pressure. What you have to do is separate the individual stores with separate parking in front of each so there is much less cross-over.
Obese people can only walk about four car lengths. I even invented a trunk-load conveyor that you simply back your car up to and off load bulk items right into the trunk.

March 08 2014 at 7:52 AM Report abuse -2 rate up rate down Reply
TINKDAY

175,000 jobs, very anemic and the so called economists know that and I wonder how many of those jobs are seasonal, partime and what is the average pay, benefits etc.

March 07 2014 at 10:41 PM Report abuse +2 rate up rate down Reply
YourFtr

The 175,000 gains in fast food jobs
were just wiped out by the loss of 300,000 Staples and other jobs.......
Also the Staples jobs mean businesses just aren't
ordering office supplies overall the US.......
as economy still in free-fall.....

March 07 2014 at 10:06 PM Report abuse rate up rate down Reply
Iselin007

In other news those gold coins that were found in the ground were supposedly stolen from the San Francisco Mint back in 1899.

March 07 2014 at 8:04 PM Report abuse +3 rate up rate down Reply
Iselin007

As long as US citizens are fleeing New Jersey over the high costs due to fat pensions and greed you can be sure employers are going to be right be hind them.

March 07 2014 at 7:51 PM Report abuse +3 rate up rate down Reply
Iselin007

So whats up with the decline in Information Technology jobs? Hmm? Well folks the loss of Information Technology jobs must be either outsourcing overseas or importing Visa Workers to displace Americans.

March 07 2014 at 7:41 PM Report abuse +2 rate up rate down Reply
Iselin007

How many states have reported the information? New Jersey has not released any information since December 2013. What your seeing is incomplete data that has to be revised constantly sometimes for 2 to 3 months !

You will get the see January and February data for New Jersey I guess whenever they are good and ready! Probably waiting to see what somebody else is saying like cheaters do on tests in school before they mark their own answer!

March 07 2014 at 7:26 PM Report abuse rate up rate down Reply
2 replies to Iselin007's comment
Iselin007

Jerk marks my rating down but I bet the smoe can't produce the employment data for New Jersey because it hasn't been released yet. Now that's a rater that has their head in the sand.

March 07 2014 at 7:47 PM Report abuse -1 rate up rate down Reply
Iselin007

News Release -
NEW JERSEY DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT
PO BOX 110, TRENTON, NEW JERSEY 08625-0110
Unemployment Rate Drops to 7.3 Percent
TRENTON, January 23, 2014 – For the second consecutive month, New Jersey’s unemployment rate
dropped significantly, reaching 7.3 percent in December, which represents a 0.5 percentage point drop
from November 2013, according to preliminary data released by the United States Bureau of Labor
Statistics (BLS).

Well blame the BLS for not reporting the NJ data. December 2013 was the last release for NJ.

March 07 2014 at 8:59 PM Report abuse +1 rate up rate down Reply
thefacts22

Most people "including me" do not trust anything that this regime is doing,i think the report is bogus,nobody trust any of their figures

March 07 2014 at 7:03 PM Report abuse -1 rate up rate down Reply
1 reply to thefacts22's comment
Iselin007

When I typed BLS.gov in the browser up pops sites with links explaining that Government workers at the BLS ect are late more and absent more than workers in the private sector. Now that about explains why the figures are so damn off and have to be revised so often.

March 07 2014 at 7:56 PM Report abuse rate up rate down Reply
jrb359

How much better things would be if we could remove most of the regulations off of business's and repealed obamacare.

March 07 2014 at 6:47 PM Report abuse -1 rate up rate down Reply