Disappointing Jobs Data Weigh Markets Down To Lower Close


Disappointing job creation numbers weighed the markets down to a lower close with the Dow tumbling 83 points 12,723. Nasdaq lost 13 points to 2828.

On the upside

CBS (NYSE: CBS) reversed year ago losses to post a better than expected profit for the first quarter and doubled its quarterly dividend from 5 cents per share to 10 cents per share.

Shares of RPX (Nasdaq: RPXC) surged on its first trading day.

Barnes & Noble (NYSE: BKS) delivered a free software upgrade to its Nook Color adding tablet-like functionalities to the e-reader.

On the downside

Vonage Holdings (NYSE: VG) reported higher first quarter earnings but revenue dropped. 

Wabash National (NYSE: WNC) reversed year ago losses to post a profit for the first quarter but revenue fell short of analyst expectations.

Harris (NYSE: HRS) disappointed with lower third quarter earnings prompting the telecommunications equipment firm to lower its sales guidance for the full year.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 832.

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This page contains a single entry by published on May 4, 2011 1:22 PM.

Markets Extend Losses Over Weak Job Growth was the previous entry in this blog.

Lower Open As Jobless Claims Unexpectedly Climb is the next entry in this blog.

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