After Market: Stocks Tumble on Earnings, Ukraine Worries

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Stocks tumbled Friday, giving back all of their gains for the week. Some disappointing earnings reports and mounting tensions along the Russia-Ukraine border sent stocks sharply lower.

The Dow Jones industrial average (^DJI) slid 140 points, the Standard & Poor's 500 index (^GPSC) lost 15 and the Nasdaq composite (^IXIC) plunged 72 points.

The biggest loser on the Dow was Visa (V), tumbling 4.5 percent. Visa is the highest priced stock on the Dow 30, which is a weighted index, meaning its drop had a huge impact. The company's revenue was below expectations.

Going online, Amazon.com (AMZN) tumbled 10 percent even though earnings were in line with expectations. But investors focused on rising expenses, and are less forgiving about the company's slim profit margins. So far this year, Amazon has lost 23 percent of its value.

Facebook (FB) lost 5 percent, Google (GOOG) declined 1.5 percent, Netflix (NFLX) all fell 6 percent, while Twitter (TWTR) dropped 7 percent. And travel sites -- Priceline Group (PCLN) and TripAdvisor (TRIP) -- were booked on a trip south; they both fell by more than 5 percent. HomeAway (AWAY), the online vacation rental firm, fell 10 percent.

Pandora Media (P) tumbled 16.5 percent after reporting another quarterly loss.

Transports were weak, with airlines, rail and package delivery stocks all stalling out. United Continental Holdings (UAL) lost 5 percent.

We've now passed the halfway point in the earning season.
  • Microsoft (MSFT) posted lower net, but it wasn't as bad as expected. The stock edged higher, which has to be considered a victory on a day like this.
  • Ford Motor (F) fell 3 percent. Earnings fell short of expectations as the company increased its warranty reserves for older models.
  • Chubb (CB) fell 2 percent. Its net was hurt by high weather-related insurance claims.
On the upside, for-profit education firm DeVry Education Group (DV) jumped 14 percent on stronger than expected earnings. And health care providers bucked the downtrend: Universal Health Services (UHS), Tenet Healthcare (THC) and Community Health Systems (CYH) all jumped by at least 6 percent.

Finally, the biotech firm Cytokinetics (CYTK) tumbled 65 percent after reporting disappointing results on a drug to treat Lou Gehrig's disease, or ALS.

What to Watch Monday:
  • The National Association of Realtors releases pending home sales for March at 10 a.m. Eastern time.
  • The Federal Reserve Bank of Dallas releases its April survey of manufacturing conditions in Texas.
-Produced by Drew Trachtenberg.


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11 Comments

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nevadan99

If Obummer would just keep his big mouth shut everything would be alright. He has to stick his nose in everyone's business. He wants to make our military smaller, but is sticking his nose in everyone's business.

April 27 2014 at 10:40 AM Report abuse -1 rate up rate down Reply
cyberbeano

Without a doubt the market is unreadable.

April 26 2014 at 6:03 AM Report abuse rate up rate down Reply
jwmgrand

RED ARROWS ON MONDAY .......... MARGIN CALLS ......... Some People notice when their is smoke and say ...... GEE this place may be on fire ... im out of here ! ... others say no big deal ..some body will put it out .. bartender lets have another round ..... many smelled smoke today ... some left others stayed ..... but one thing is for sure ...... everybody smells smoke ... some are just acting like its normal ...no big dael ... but it is not normal .....and its a very big deal !

April 26 2014 at 12:01 AM Report abuse rate up rate down Reply
YourFtr

Also North Korean confrontations;
failed mid-east peace talks;
Syria out of control
....

April 25 2014 at 11:54 PM Report abuse +1 rate up rate down Reply
1 reply to YourFtr's comment
barryaclarke

Hmmm, all that red ink from President Obama hasn't even had time to dry................

April 26 2014 at 1:09 AM Report abuse -1 rate up rate down Reply
1 reply to barryaclarke's comment
ualfriend

you have the IQ of a rock

April 27 2014 at 9:21 AM Report abuse -1 rate up rate down
mociambz

just more proof that having a pansy president is not good for the country

April 25 2014 at 10:44 PM Report abuse rate up rate down Reply
1 reply to mociambz's comment
ualfriend

lets get bush back he did such a good job.LOL

April 27 2014 at 9:22 AM Report abuse -1 rate up rate down Reply
seawarriorteam

I'm not invested in a single company that relates to Ukraine but still lost money today. Pump and dumps and short traders won.

April 25 2014 at 7:51 PM Report abuse rate up rate down Reply
kolblh

Send another billion dollars to the Ukraine and watch the numbers go up.

April 25 2014 at 7:14 PM Report abuse rate up rate down Reply
bolten2

The market dropped with Greece problems. The market dropped when Syria had its internal problems. Tommorow the Ukraine will be yesterdays news too.

April 25 2014 at 5:54 PM Report abuse +1 rate up rate down Reply