logo
  Join        Login             Stock Quote

U.S. Stocks Slump Amid Weak Labor Data; Hot Stocks: LNKD, AIG, SWN, EL, DGI, DOLE

 May 04, 2012 04:34 PM
 


(By Balachander) U.S. stocks slumped as report showing employers in America added fewer workers than expected renewed worries about the strength of economic recovery.

S&P 500 Index retreated 1.61 percent to finish at 1,369.10. The Dow Jones Industrial Average lost 1.28 percent to end at 13,038.04. The Nasdaq Composite Index tumbled 2.25 percent to close at 2,956.34.

On Friday, the U.S. non-farm payrolls report showed that just 115,000 jobs were added in April, trailing economists forecast of addition of 170,000 jobs. Private non-farm payrolls showed 130,000 jobs were added in April, below economists estimate of 175,000 jobs. However, unemployment rate dipped to 8.1 percent from 8.2 percent.

Investors were also cautious ahead of elections in France and Greece over the weekend amid ongoing debt crisis in Europe.

Hot Stocks Of The Day: LNKD, AIG, SWN, EL, DGI, DOLE

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

In corporate news, LinkedIn Corp. (NYSE:LNKD) rallied 7.2 percent after the professional-networking website posted a jump in quarterly earnings on revenues that doubled from last year. The company, which announced acquisition of professional content sharing community SlideShare for $118.8 million, also raised its revenue forecast for 2012.

American International Group Inc. (NYSE:AIG) dropped 3.8 percent. AIG's shares were up over 46 percent so far this year and there are expectations that the U.S. Treasury will soon sell a part of the 70 percent stake in the insurer.
 
Estee Lauder Companies Inc. (NYSE:EL) retreated 5.3 percent after the maker of skin care and fragrance products guided fourth-quarter earnings below consensus. EL sees Q4 EPS, before charges, between 11 cents and 16 cents, trailing market expectations of 20 cents. Certain European countries, Japan and Australia are soft due to ongoing economic uncertainties and volatility in financial markets, the company said.

[Related -Linkedin Corp (NYSE:LNKD): A Look At Next Major Opportunities]

Southwestern Energy Co. (NYSE:SWN) tumbled 7.2 percent after the natural gas and oil explorer posted a drop in first-quarter earnings and revenue, missing market expectations, amid low gas prices. EPS declined to 31 cents from 39 cents, trailing consensus estimate of 32 cents. Revenue declined to $656.5 million from $676.3 million.

DigitalGlobe Inc. (NYSE:DGI) spiked 21.6 percent after GeoEye Inc.


Next Page >>12
iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageSector Detector: Bulls Go Down Swinging, Refusing To Give Up Much Ground

Although the stock market displayed weakness last week as I suggested it would, bulls aren’t going down read on...

article imageThe Bumpy Road Ahead To Policy Normalization

When the dust clears from tomorrow’s Fed announcement, the crowd’s expecting that the slow but persistent read on...

article imageAnalyzing Performance Histories That Might Have Been

The trend in recent years of securitizing more of the world’s market betas offers investors, in theory, read on...

article imageBig Prints in VIX Calls

The CBOE Vix Index is in positive territory on Friday morning as shares in the S&P 500 Index move slightly 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.