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Ukraine Scare Stops Bulls in Their Tracks
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Stock were strong out of the gate this morning, but the mood soured as tensions in Ukraine loomed large.

The Bureau of Labor Statistics said that nonfarm payrolls rose by 288,000 in April, exceeding the 218,000 consensus forecast. February and March's numbers were revised up by a total of 36,000.

Additionally, private and manufacturing payrolls both exceeded expectations.

The unemployment rate was 6.3%, well under the expected 6.6%, but that was mostly because of an expected shrinking of the labor force.

But after a strong start that saw the S&P 500 (INDEXSP:.INX) hit an intraday high of 1891.33, attention turned to Ukraine.

At a White House news conference, President Obama and German Chancellor Angela Merkel expressed dismay at Russia's rising aggression, with both threatening tougher sanctions.

The S&P finished 0.1% lower at 1881.14, with investors bidding up US Treasuries, gold, and silver instead.

LinkedIn (NYSE:LNKD) beat first-quarter revenue and earnings estimates after the close Thursday. However, its full-year revenue guidance was slightly below analysts' expectations, and the stock fell 8.4%. Most other social media stocks, including Facebook (NASDAQ:FB) and Yelp (NYSE:YELP), fell in sympathy.

Other names taking earnings-related hits on Friday included DaVita HealthCare (NYSE:DVA), Expedia (NASDAQ:EXPE), and Exelis (NYSE:XLS).

On the positive side, housing and materials stocks were strong today, some safety-oriented plays like utilities pulled back, and the Russell 2000 (INDEXRUSSELL:RUT) was in positive territory.

In deal news, British pharmaceutical giant AstraZeneca (NYSE:AZN) rejected Pfizer's (NYSE:PFE) $106 billion bid, claiming it "substantially undervalued" the company.

Investment firm Ares Management LP (NYSE:ARES) began trading today following a significant downsizing of its initial public offering. Ares came public at $19 per share, finishing the day at $18.60.

Tomorrow's Financial Outlook

The US economic calendar is light on Monday, with just the April ISM Non-Manufacturing Composite and the US Markit PMI on tap.

Earnings season is slowing a bit, but we'll have plenty of reports to watch. Some of the bigger names issuing first-quarter numbers Monday include Pfizer, Sysco (NYSE:SYY), Tyson Foods (NYSE:TSN), and American International Group (NYSE:AIG).

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Ukraine Scare Stops Bulls in Their Tracks
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Stock were strong out of the gate this morning, but the mood soured as tensions in Ukraine loomed large.

The Bureau of Labor Statistics said that nonfarm payrolls rose by 288,000 in April, exceeding the 218,000 consensus forecast. February and March's numbers were revised up by a total of 36,000.

Additionally, private and manufacturing payrolls both exceeded expectations.

The unemployment rate was 6.3%, well under the expected 6.6%, but that was mostly because of an expected shrinking of the labor force.

But after a strong start that saw the S&P 500 (INDEXSP:.INX) hit an intraday high of 1891.33, attention turned to Ukraine.

At a White House news conference, President Obama and German Chancellor Angela Merkel expressed dismay at Russia's rising aggression, with both threatening tougher sanctions.

The S&P finished 0.1% lower at 1881.14, with investors bidding up US Treasuries, gold, and silver instead.

LinkedIn (NYSE:LNKD) beat first-quarter revenue and earnings estimates after the close Thursday. However, its full-year revenue guidance was slightly below analysts' expectations, and the stock fell 8.4%. Most other social media stocks, including Facebook (NASDAQ:FB) and Yelp (NYSE:YELP), fell in sympathy.

Other names taking earnings-related hits on Friday included DaVita HealthCare (NYSE:DVA), Expedia (NASDAQ:EXPE), and Exelis (NYSE:XLS).

On the positive side, housing and materials stocks were strong today, some safety-oriented plays like utilities pulled back, and the Russell 2000 (INDEXRUSSELL:RUT) was in positive territory.

In deal news, British pharmaceutical giant AstraZeneca (NYSE:AZN) rejected Pfizer's (NYSE:PFE) $106 billion bid, claiming it "substantially undervalued" the company.

Investment firm Ares Management LP (NYSE:ARES) began trading today following a significant downsizing of its initial public offering. Ares came public at $19 per share, finishing the day at $18.60.

Tomorrow's Financial Outlook

The US economic calendar is light on Monday, with just the April ISM Non-Manufacturing Composite and the US Markit PMI on tap.

Earnings season is slowing a bit, but we'll have plenty of reports to watch. Some of the bigger names issuing first-quarter numbers Monday include Pfizer, Sysco (NYSE:SYY), Tyson Foods (NYSE:TSN), and American International Group (NYSE:AIG).

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Minyanville Staff
Ukraine Scare Stops Bulls in Their Tracks
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Stock were strong out of the gate this morning, but the mood soured as tensions in Ukraine loomed large.

The Bureau of Labor Statistics said that nonfarm payrolls rose by 288,000 in April, exceeding the 218,000 consensus forecast. February and March's numbers were revised up by a total of 36,000.

Additionally, private and manufacturing payrolls both exceeded expectations.

The unemployment rate was 6.3%, well under the expected 6.6%, but that was mostly because of an expected shrinking of the labor force.

But after a strong start that saw the S&P 500 (INDEXSP:.INX) hit an intraday high of 1891.33, attention turned to Ukraine.

At a White House news conference, President Obama and German Chancellor Angela Merkel expressed dismay at Russia's rising aggression, with both threatening tougher sanctions.

The S&P finished 0.1% lower at 1881.14, with investors bidding up US Treasuries, gold, and silver instead.

LinkedIn (NYSE:LNKD) beat first-quarter revenue and earnings estimates after the close Thursday. However, its full-year revenue guidance was slightly below analysts' expectations, and the stock fell 8.4%. Most other social media stocks, including Facebook (NASDAQ:FB) and Yelp (NYSE:YELP), fell in sympathy.

Other names taking earnings-related hits on Friday included DaVita HealthCare (NYSE:DVA), Expedia (NASDAQ:EXPE), and Exelis (NYSE:XLS).

On the positive side, housing and materials stocks were strong today, some safety-oriented plays like utilities pulled back, and the Russell 2000 (INDEXRUSSELL:RUT) was in positive territory.

In deal news, British pharmaceutical giant AstraZeneca (NYSE:AZN) rejected Pfizer's (NYSE:PFE) $106 billion bid, claiming it "substantially undervalued" the company.

Investment firm Ares Management LP (NYSE:ARES) began trading today following a significant downsizing of its initial public offering. Ares came public at $19 per share, finishing the day at $18.60.

Tomorrow's Financial Outlook

The US economic calendar is light on Monday, with just the April ISM Non-Manufacturing Composite and the US Markit PMI on tap.

Earnings season is slowing a bit, but we'll have plenty of reports to watch. Some of the bigger names issuing first-quarter numbers Monday include Pfizer, Sysco (NYSE:SYY), Tyson Foods (NYSE:TSN), and American International Group (NYSE:AIG).

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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