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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69 Comments

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JAN DORRIS

I do not like the new portfoilio-can\'t recover my stocks

February 03 2014 at 10:53 AM Report abuse rate up rate down Reply
frank1946

Brace for a Hard Landing.......................China slowing, Europe has the Blues, Ditto USA .

DEM Debts keep getting Gigantic.

Interest Rate Bump now a Joke.

USA going Downhill !

February 03 2014 at 4:46 AM Report abuse rate up rate down Reply
obamasam0r0nl

Iselin007
I find my own history more important than the lack of your own. ********* Unfortunately for you, no one else cares about horse thieves and prostitutes ?

February 02 2014 at 10:38 AM Report abuse rate up rate down Reply
Iselin007

No matter who wins the Super Bowl just be glad that after you bought those tickets you still got a job to return to. You just may find your self wishing the cuts in food stamps would of waited until this economy turned around.

February 01 2014 at 11:40 PM Report abuse rate up rate down Reply
Iselin007

Must be some fallout coming already the business news people can be see moving from one regular show to another or news of others sight unseen preparing to move. Hmm major cuts in staff perhaps hitting while the industry quitely downsizes again?

You know when the axe starts falling Wall St firms and related entities begin cleaning house as silent as they can so they don't spook the markets into a further panic.

February 01 2014 at 11:31 PM Report abuse +1 rate up rate down Reply
betty_brock

Of course the problem is overseas. It couldn't be the Socialist in the White House.

February 01 2014 at 10:25 PM Report abuse -1 rate up rate down Reply
ectullis

Stop with the blame game.

February 01 2014 at 9:35 PM Report abuse rate up rate down Reply
Iselin007

Just keep reading the Power of Positive Thinking while all this negative stuff happens.

February 01 2014 at 9:27 PM Report abuse +2 rate up rate down Reply
Iselin007

What's ermerging in the ermerging markets is their finding the demand for their stuff is becoming a tougher sell to others whose own economy stinks!

February 01 2014 at 9:10 PM Report abuse +1 rate up rate down Reply
1 reply to Iselin007's comment
obamasam0r0nl

"Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion–when you see that in order to produce, you need to obtain permission from men who produce nothing–when you see that money is flowing to those who deal, not in goods, but in favors–when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you–when you see corruption being rewarded and honesty becoming a self-sacrifice–you may know that your society is doomed.” ~Ayn Rand’s, Atlas Shrugged,

February 02 2014 at 10:56 AM Report abuse rate up rate down Reply
rmurr1

whene will people learn............... never and not , you cant teach stupid and that is a fact, prove me wrong!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

February 01 2014 at 6:43 PM Report abuse rate up rate down Reply