After the Dow dropped 998 points intraday -- the most in the history of the blue-chip index, before closing down 348 -- the market faces issues such as the jobs report, Greek debt fears and European elections.
Cigna (CI) reported first-quarter earnings that rose 36% on improvements across its global health service businesses. Adjusted income from operations came in at $1.01 a share. Analysts had been expecting a profit of 90 cents a share. Alcatel-Lucent ( ALU) , the telecommunications-equipment maker, reported a wider first-quarter loss of 515 million euros ($658 million) compared with a year-earlier loss of 402 million euros as part shortages crimped sales. Transocean ( RIG), the owner of the now infamous oil rig that sank in the Gulf of Mexico and unleashed a torrent of crude into the ecosystem, reported earnings largely in-line with expectations late Wednesday. But an SEC filing released yesterday also said officials from both the Department of Homeland Security and the Interior Department have opened an investigation on the accident. Shares traded 4.2% lower today. Kraft Foods ( KFT) traded 1.8% lower ahead of its first quarter earnings announcement due late today.