logo
  Join        Login             Stock Quote

U.S. Stocks End Sharply Lower Amid Greece Standoff; Hot Stocks: (LNKD, ALU, ACI, CIE, NUAN)

 February 10, 2012 04:27 PM
 


U.S. stocks ended on a sharply lower note amid turmoil in Greece over a debt deal. Weak American economic data on the trade gap and consumer confidence also dented the sentiment.  

S&P 500 Index retreated 0.69 percent to finish at 1,342.64. The Dow Jones Industrial Average lost 0.69 percent to end at 12,801.23. The Nasdaq Composite Index dropped 0.80 percent to close at 2,903.88.

The stock extended their losses on reports that euro-zone finance ministers have put Greece's financial bailout plan on hold demanding more spending cuts, with them saying Greece's parliament must first approve the new $170 billion reform package before they can give the final nod.

On the economic front, the U.S. trade gap for December widened than forecast for the second consecutive month, coming in at $48.8 billion, up from a revised $47.1 billion in November, while economists expected a $47.8 billion deficit in the month.

[Related -Linkedin Corp (NYSE:LNKD): New Marketing Efforts Should Improve Ad Sales]

The University of Michigan's consumer sentiment index for February fell to 72.5 from 75 the month before and down from economists expectations of 74.

Hot Stocks Of The Day: (LNKD, ALU, ACI, CIE, NUAN)

In corporate news, Linkedin Corp. (NYSE:LNKD) surged 17.8 percent to $89.99 after the online professional network posted quarterly revenue that doubled from last year. The company also issued an upbeat guidance for 2012. Revenue for the fourth quarter increased to $167.7 million from $81.7 million. It sees first-quarter revenue between $170 million and $175 million, while analysts' expect $170.79 million.

[Related -Akamai Technologies, Inc. (NASDAQ:AKAM): Mark Down These Insider Buys]

Alcatel-Lucent (NYSE: ALU) jumped 13.1 percent to $2.19 after the telecommunications equipment manufacturer reported full-year earnings, the company's first since the merger of Alcatel and Lucent in 2006.

Nuance Communications Inc. (NASDAQ:NUAN) dropped 12.9 percent to $26.50 after the provider of voice and language services reported first-quarter results, trailing analysts' estimates. On a non-GAAP basis, the company's earnings per share were 34 cents on revenue of $382.0 million. Analysts' expected earnings of 36 cents on revenue of $391.5 million.

Arch Coal Inc. (NYSE:ACI) slumped 7.5 percent to $14.40 after the coal producer reported earnings of 29 cents a share on an adjusted basis in the fourth quarter, trailing consensus estimate of 32 cents. Revenue of $1.23 billion also missed Wall Street projections of $1.30 billion. The St. Louis, Missouri-based company issued a cautious view for 2012 citing domestic thermal market concerns and is slashing its intended output volumes "to better align with weak generation and coal demand trends." 

Cobalt International Energy Inc. (NYSE:CIE) jumped 32.5 percent to end at $31.68 after the oil & gas producer announced significantly better-than-expected flows from a test well offshore of Angola.

Global Markets:

The European markets finished sharply lower, with Germany's DAX retreating 1.40 percent to end at 6,694.03. France's CAC40 lost 1.48 percent to close at 3,374.00. Britain's FTSE 100 dropped 0.74 percent to finish at 5,852.03.  

In the Asian market, China's SSE Composite Index gained 0.14 percent to close at 2,352.80 and Hong Kong's Hang Seng declined 1.08 percent lower to close at 20,783.86. Japan's Nikkei 225 lost 0.61 percent to end at 8,947.17. India's BSE 30 Sensex finished 0.46 percent lower at 17,748.69.

Market Scan:

Commodities closed the day on a negative note with crude oil losing 0.86 percent to end at $98.98 per barrel, while natural gas price edged 0.04 percent higher to close at $2.478 per million metric British thermal units. Gold dropped 1.11 percent to $1,721.8 per ounce, while silver prices fell 1.23 percent to close at $33.5 per ounce. 

In the currency market, the euro retreated 0.85 percent against the U.S. dollar to $1.3172. The British pound dropped 0.51 percent against the greenback, and the dollar inched 0.03 percent lower against the Japanese yen to 77.6385.

iOnTheMarket Premium
Advertisement

Advertisement


Comments Closed


rss feed

Latest Stories

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

article imageNetflix, Inc. (NFLX) Q2 Earnings Preview: The Ruby Month for a Reason

Netflix, Inc. (NASDAQ:NFLX) will post its second-quarter 2014 financial results and business outlook on its read on...

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

article imageInternational Business Machines Corp. (IBM) Q2 Earnings Preview: Small Beat and Pop

International Business Machines Corp. (NYSE:IBM) will host a conference call Wednesday, Jul. 16, 2014 at read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.