After Market: Ukraine Strikes Back, Investors Duck for Cover

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Escalating violence in Ukraine and a warning from Russian President Vladimir Putin made investors wary heading into the weekend. That news Friday overshadowed a surprisingly strong report showing the economy created more jobs in April than it had in any month in more than two years.

On balance, though, the declines were small. The Dow Jones industrial average (^DJI) fell 46 points less than 0.3 percent, while the Standard & Poor's 500 index (^GPSC) and the Nasdaq composite (^IXIC) each lost around 0.1 percent -- 2 points and 3 points, respectively.

Merck (MRK) was one of the big losers among the blue chips, down 2½ percent after stopping a clinical trial of a drug to treat ovarian cancer because it failed to live up to expectations.

Merck's partner in the research, Endocyte (ECYT), got clobbered. It lost 62 percent of its value on the news.

Staying with pharmaceuticals, Pfizer (PFE) lost more than 1 percent on word that Its sweetened, $106 billion offer for AstraZeneca (AZN) had been rejected. The British drug maker said the bid "substantially" undervalues the company.

Biotechs also had rough day. Gilead (GILD) and Regeneron (REGN) both lost about 2 percent, and Pharmacyclics (PCYC) dropped 7½ percent.

As for earnings, Wynn Resorts (WYNN) was a big winner. The stock gained 7 percent today and it's now up more than 60 percent over the past year. The company posted strong revenue from its casino operations in Macau.

Carpet maker Mohawk Industries (MHK) gained 6 percent as net topped expectations.

And Nutrisystems (NTRI) rose 8 percent, and the stock has nearly doubled in price from a year ago despite some weakness lately. It's been a good week for weight loss companies. Weight Watchers (WTW) surged on strong earnings Thursday.

On the downside:

  • Chevron (CVX), the nation's second largest oil company, edged lower as earnings and production fell.
  • LinkedIn (LNKD) slid 8 percent. It swung to a loss in the latest quarter from a profit a year ago.
  • Expedia (EXPE) dropped 3½ percent despite beating expectations and reporting a big jump in bookings.
  • Kraft Foods (KRFT) fell 1 percent.
  • And Madison Square Garden (MSG) lost 6½ percent.


What to Watch Monday:

  • The Institute for Supply Management releases its service sector index for April at 10 a.m. Eastern time.
These major companies are due to report quarterly financial results:
  • American International Group (AIG)
  • Anadarko Petroleum (APC)
  • Orbitz Worldwide (OWW)
  • Pfizer (PFE)
  • Sysco (SYY)
  • Tenet Healthcare (THC)
  • Tyson Foods (TSN)
-Produced by Drew Trachtenberg.


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206 Comments

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d.barack

That's it minus one ?

May 05 2014 at 10:37 AM Report abuse rate up rate down Reply
d.barack

Hey Evan Barthold, how come you didn't E-Mail the White House with the Ford post, I'm sure, seeing how you are Barry Soetoro's favorite Zombie, that he will surely listen to you. Whadda ya say cowboy ? Then Barry Soetoro can finally fix the economy !!

May 05 2014 at 10:04 AM Report abuse -1 rate up rate down Reply
d.barack

Hey Barthold, what are your ON TOPIC thoughts about the Ukraine ?

May 05 2014 at 9:55 AM Report abuse -1 rate up rate down Reply
d.barack

Evan Barthold is so greedy that he wont share his food stamps with his OWS welfare rats.

May 05 2014 at 9:47 AM Report abuse -1 rate up rate down Reply
d.barack

Not the Henry Ford Post again !!!

May 05 2014 at 9:45 AM Report abuse -1 rate up rate down Reply
teapartyisdying.uall

We have a internet bully and coward on board,dems.r.dunces.

May 05 2014 at 8:44 AM Report abuse +1 rate up rate down Reply
2 replies to teapartyisdying.uall's comment
d.barack

What about the Ukraine ?

May 05 2014 at 9:45 AM Report abuse rate up rate down Reply
d.barack

With all the multiple screen names you use bashing George Bush and the GOP, I'd say you are the bully and the coward here.

May 05 2014 at 9:56 AM Report abuse -1 rate up rate down Reply
toosmart4u

Main problem in this country is greed. Corporations sent their good paying jobs overseas for more profits at home. Now they keep the profits overseas as not to pay taxes. Now they lay off people for there is a lack of buyers for their products. We need better laws, if you sell your imported products here you keep your money here and pay your fair of taxes. More people working means a better economy for everyone. Just the large money machine of the GOP does not understand this.

May 05 2014 at 3:06 AM Report abuse -1 rate up rate down Reply
1 reply to toosmart4u's comment
progressivehoax

Hey dunce, it's the Liberal Greed that causes all the problems. Been by a retailer lately and looked at all the Obama/Biden 2012 and other Dummycrat bumper stickers plastered all over the cars in the parking lots and yes Wal-Mart has the most. ROTFLMFAO

May 05 2014 at 7:45 AM Report abuse -2 rate up rate down Reply
1 reply to progressivehoax's comment
republicanslostagain

Hey right wing nut job, How did liberal Greed cause all the problems ? Crack pot conservative it's the republicans who have allowed corporate America to pay no taxes and the republican party also gives Corporate America corporate welfare. Republicans just blocked a increase in the minimum wage, which only benefits corporate America not the working class.

May 05 2014 at 8:01 AM Report abuse +1 rate up rate down
Iselin007

Must be the economy that caused AOL to reduce the features on these message boards.
We use to be able to post live links or photos. Even competitors have done the same down grades to their message boards.

May 05 2014 at 1:34 AM Report abuse rate up rate down Reply
Iselin007

By the way it was Pres Gerald Ford that finally gave Robert E Lee his Citizenship back.

I forget Gerald Ford's real name but it had been originally changed. Somehow it was linked to to my tree through a previous marriage.

May 05 2014 at 1:22 AM Report abuse rate up rate down Reply
1 reply to Iselin007's comment
d.barack

Are you related to Timothy Leary too ? I'll bet you are.

May 05 2014 at 9:53 AM Report abuse rate up rate down Reply
Iselin007

As this economic problem drags on foreign buyers and others gobble up America at a discount.

States are not getting back the jobs they lost instead they are getting mainly lower wage crap. The drop in the labor particpation and rise in the not in labor force says people are being displaced by others so they end up disgusted.

May 05 2014 at 1:14 AM Report abuse rate up rate down Reply