This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dow Falls 225 Points on Eurozone Concerns

Company News

After the closing bell, InterMune (ITMN) shares collapsed over 80% after the FDA decided not to approve a drug used to treat idiopathic pulmonary fibrosis, though regulators requested another clinical trial.

During the regular session, Alcoa (AA), Caterpillar (CAT) and Hewlett-Packard (HPQ) were the Dow's biggest laggards.

But better-than-expected earnings from Pfizer (PFE - Get Report) and Merck (MRK - Get Report) were helping lift those shares higher, joining Wal-Mart (WMT) as the only Dow performers trading in positive territory.

The Dow was seeing volume of 242 million shares, compared with an average of 200 million.

Pfizer surpassed analysts' expectations with adjusted first-quarter earnings of 60 cents a share. Although the company reaffirmed its guidance for year-end adjusted earnings of $2.10 to $2.20 a share, it lowered its 2012 outlook on account of the recently enacted health care legislation. Pfizer's stock gained 2.1% to $17.26.

Merck beat estimates with an adjusted first-quarter profit of 83 cents a share on sales of $11.42 billion. Merck shares climbed 1.5%, to $35.81.

Archer Daniels Midland (ADM) reported a third-quarter profit of 65 cents a share and sales that rose 2% to $15.14 billion, which was below the $15.65 billion in sales that analysts had projected. The stock lost 5.4%, to $26.22.

UBS (UBS - Get Report) swung to a first-quarter profit of 2.2 billion Swiss francs ($2.02 billion), topping expectations. The stock fell off 5.5%, to $14.78.

CVS Caremark (CVS - Get Report) beat Wall Street expectations by 2 cents but fell short of the $24.12 billion in sales that analysts had projected with first-quarter revenue of $23.76 billion. CVS shares shed 1.6%, to $36.48.

Shares of MasterCard (MA - Get Report) improved 0.2% following better-than-expected first-quarter results with a profit of $3.46 a share on sales of $1.31 billion.

Sirius XM (SIRI - Get Report) posted adjusted earnings of a penny a share, compared with the break-even quarter that analysts had been expecting. Sales rose to $670.6 million but missed expectations for revenue of $671.3 million. Sirius shares traded 4.1% lower at $1.18.

Shares of financial data provider Interactive Data (IDC) gained 0.5% on news that it agreed to be acquired by private-equity groups Silver Lake and Warburg Pincus in a deal valued at $3.4 billion.

Nissan said air-bag problems forced the car manufacturer to recall almost 135,000 of its Infiniti G35 models, according to an Associated Press report.

American depositary shares of BP (BP) traded in positive territory today after getting pummeled for the past few sessions. The company has come under increasing scrutiny after a rig it leased exploded, setting off a chain of events resulting in an ever-expanding oil spill in the Gulf of Mexico. BP gained 2% today.
3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CVS $100.54 -0.66%
MA $96.98 -0.21%
MRK $54.85 -1.60%
PFE $32.73 -0.55%
SIRI $3.94 0.64%


Chart of I:DJI
DOW 17,776.11 -54.65 -0.31%
S&P 500 2,068.80 -7.01 -0.34%
NASDAQ 4,779.82 -25.4710 -0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs