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

Stocks Slide as Ukraine Tensions Rise; Pandora, Ford Disappoint

NEW YORK (TheStreet) -- U.S. markets traded lower Friday amid rising tension in Ukraine, while companies from Pandora (P - Get Report) to Ford (F) disappointed on the earnings front. Consumer sentiment beat expectations, though service sector growth slowed.

  • The Dow Jones Industrial Average fell 0.81% to 16,361.78, while the S&P 500 lost 0.81% to 1,863.41. The Nasdaq tumbled 1.75% to 4,075.56. The Dow, S&P and Nasdaq for the entire trading week declined 0.29%, 0.08% and 0.49%, respectively.
  • Amazon (AMZN - Get Report) lost nearly 10% after reporting first-quarter revenue of $19.74 billion, a 22.8% increase from the year-earlier quarter. Amazon forecast an operating loss for the second quarter as it continues to invest heavily both internationally and at home. Ford was down 3.13% after missing first-quarter earnings estimates by 6 cents at 25 cents a share. Visa was off 4.4% after it expressed caution about a slowdown in revenue growth in the current quarter.
  • Domestic economic reports were mixed. The U.S. services sector expanded at a slower rate in April, with Markit announcing its flash services PMI hit 54.2, down from March's reading of 55.3. Consumer sentiment beat expectations to rise to 84.1 in April from a March level of 80, according to the University of Michigan and Thomson Reuters. It was the highest reading since last July.
  • Ukraine is making the headlines following fatalities that resulted from a clash between Ukrainian forces and pro-Russia protestors. The surge in violence triggered concerns about Russia intervention, as Russia responded with new military exercises near the Ukrainian border shortly after the deadly clash. Simultaneously, the U.S. reasserted the possibility of carrying out harsher sanctions on Russia. Standard & Poor's Ratings Services slashed its rating on Russia to one notch above junk, factoring in large capital outflows in the first quarter.
  • Russia's central bank hiked interest rates to 7.5% Friday as it faces heightened inflation risks. In other news, the U.S. and Japan failed to make a deal on free trade.
  • Microsoft (MSFT) rose 0.13% after reporting better-than-expected fiscal third-quarter earnings and in-line revenue amid a surge in Azure, Office 365 and Surface sales. Starbucks (SBUX) climbed 0.51% after posting in-line fiscal second-quarter earnings on Thursday, helped by lower coffee costs, but revenue fell short of Wall Street's estimates. Colgate-Palmolive (CL) said first-quarter earnings fell 16% as an exchange rate charge offset a slight lift in sales. Colgate shares were 0.29% lower.
  • Stock losers included Masco (MAS) and Pandora (P - Get Report) which fell 7.4% and 16.6%, respectively. Masco, an installer of home insulation, reported first-quarter earnings which missed estimates by a wide margin. Pandora's profit forecast also fell short of expectations after the company said it would bolster spending on marketing.
  • In international markets the Hang Seng closed 1.50% lower while the Nikkei gained 0.17%. Germany's DAX dropped 1.54% while the U.K. FTSE was 0.25% lower.

-- By Jane Searle, Andrea Tse and Joe Deaux in New York

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
AMZN $662.93 0.58%
P $9.28 -0.64%
AAPL $92.52 -0.77%
FB $118.69 0.75%
GOOG $706.74 0.76%


Chart of I:DJI
DOW 17,655.00 -5.71 -0.03%
S&P 500 2,044.00 -6.63 -0.32%
NASDAQ 4,695.8940 -21.20 -0.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs