After Market: Issues in Emerging Markets Pummel U.S. Stocks

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Problems overseas continued to weigh on investors here at home Friday, and the Dow Jones industrial average (^DJI) fell another 149 points. The index had tumbled more than 200 points earlier in the day before regaining some ground. The Standard & Poor's 500 index (^GPSC) dropped 11, and the Nasdaq composite (^IXIC) declined 19 points. All three ended lower for the month.

Earnings, especially in the tech sector, continued to drive trading. Amazon (AMZN) lost 11 percent. Investors have apparently grown less forgiving about the company's pattern of sacrificing profits for sales. But Google (GOOG) gained 4 percent on solid earnings growth. Facebook (FB) added another 3 percent to Thursday's big gains. Microsoft (MSFT), Yahoo (YHOO) and Twitter (TWTR) all rose about 2 percent. And Apple (AAPL) edged barely higher, after four straight down days.

Among blue chips, Chevron (CVX) was the big loser with a slide of 4 percent after a big earnings miss. Exxon (XOM) lost another 2 percent, Visa (V) fell more than 2 percent and American Express (AXP) lost nearly 2 percent.
Visa and Amex followed in the wake of rival MasterCard (MA), which slid 5 percent. Its net surged, but not enough.

Even though the overall market was weak, there were some big winners.

Video game maker Zynga (ZNGA) jumped 23 percent. It announced a round of job cuts and the acquisition of a mobile game company.

Chipotle Mexican Grill (CMG) was hot, up 12 percent. The company reported higher revenue and customer traffic.

Tyson Foods (TSN) rose 8.5 percent as net topped expectations. Its shares hit a 52-week high, up nearly 70 percent from a year ago.

Casino operator Wynn Resorts (WYNN) rose 8 percent on strong earnings.

And Ultragenyx Pharmaceuticals (RARE) doubled in price from its $21 a share IPO. The company makes drugs to treat genetic diseases.

On the downside, Newmont Mining (NEM) fell 10 percent. It now trades below book value. The stock has lost half its value over the past year as the price of gold has slumped.

What to Watch Monday:
  • Automakers release vehicle sales figures for January.
  • At 10 a.m. Eastern time, the Institute for Supply Management releases its manufacturing index for January, and the Commerce Department releases construction spending for December.
  • Yum Brands (YUM) reports quarterly financial results after U.S. markets close.
-Produced by Drew Trachtenberg.


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