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Coutts-US midday: Tech stocks weigh on major market averages

May 8, 2014



ENP Newswire - 08 May 2014

Release date- 07052014 - US midday: Tech stocks weigh on major market averages.

Putin calls on activists to postpone referendum - Fed in focus ahead of Yellen speech - Electronic Arts jumps, Groupon drops after results Dow Jones: 0.59% Nasdaq: -0.77% S&P 500: 0.31% US stocks continued to trade mixed come Wednesday afternoon as investors digested the latest developments in Eastern Europe with Vladimir Putin saying he sees no need to send forces into Ukraine yet. The Russian President said he wanted the 'swiftest possible resolution' to the crisis and called on activists in Eastern Ukraine to postpone a planned referendum this weekend. Most importantly, he called on pro-Russian separatists to contribute to the conditions necessary for a dialgoue to take place. In other news, Chinese online market-place Alibaba has filed for what may well become the largest US initial public offering ever.

Electronic Arts pulls toy sector higher, Internet stocks weigh Video game group Electronic Arts jumped after fiscal fourth-quarter profits and sales came in ahead of expectations.

The company also announced a $750m share buyback plan. Daily deals and voucher company Groupon slid after first-quarter losses widened by more than expected due to increased expenses. Social media messaging network Twitter was extending losses after an 18% slump on Tuesday after the six-month lock-up period which applied to 82% of its equity expired. Pharmaceuticals firm Corcept Therapeutics lost around half of its market value after stopping a late-stage trial of its psychotic depression drug after analysis showed its was unlikely to yield a positive result. From a sector standpoint the best performance was to be seen in the following industrial groups: Toys (6.05%) and Brewers (3.45%). West Texas Intermediate futures were up 1.25% at $100.74 a barrel on the NYMEX. The yield on a 10-year US Treasury was flat at 2.59%. S&P 500 - Risers Electronic Arts Inc.

(EA) $33.13 +18.11% Mondelez International Inc.

(MDLZ) $37.86 +7.50% Pioneer Natural Resources Co.

(PXD) $208.00 +4.99% Devon Energy Corp.

(DVN) $73.42 +4.60% Humana Inc.

(HUM) $114.35 +4.15% Chesapeake Energy Corp.

(CHK) $29.42 +3.76% Molson Coors Brewing Co.

Class B (TAP) $61.84 +3.46% DIRECTV (DTV) $84.36 +3.22% AbbVie Inc (ABBV) $52.51 +3.14% FirstEnergy Corp.

(FE) $33.56 +2.80% S&P 500 - Fallers Whole Foods Market Inc.

(WFM) $38.59 -19.52% Perrigo Company plc (PRGO) $130.45 -8.77% First Solar Inc.

(FSLR) $62.59 -7.21% Yahoo! Inc.

(YHOO) $34.15 -6.40% Cognizant Technology Solutions Corp.

(CTSH) $46.59 -5.30% Salesforce.Com Inc.

(CRM) $49.79 -3.84% Wynn Resorts Ltd.

(WYNN) $199.95 -3.66% GameStop Corp.

(GME) $36.29 -3.62% Adobe Systems Inc.

(ADBE) $57.31 -3.59% FMC Corp.

(FMC) $73.28 -3.58% Dow Jones I.A - Risers Unitedhealth Group Inc.

(UNH) $77.05 +2.38% Verizon Communications Inc.

(VZ) $48.22 +1.58% American Express Co.

(AXP) $87.50 +1.51% Travelers Company Inc.

(TRV) $90.92 +1.15% Johnson & Johnson (JNJ) $100.65 +1.15% Chevron Corp.

(CVX) $126.24 +1.02% JP Morgan Chase & Co.

(JPM) $53.88 +1.01% Procter & Gamble Co.

(PG) $81.93 +0.99% Coca-Cola Co.

(KO) $40.88 +0.96% E.I.

du Pont de Nemours and Co.

(DD) $67.79 +0.89% Dow Jones I.A - Fallers Pfizer Inc.

(PFE) $28.91 -1.77% Merck & Co.

Inc.

(MRK) $56.17 -1.65% Boeing Co.

(BA) $129.41 -1.09% Home Depot Inc.

(HD) $76.61 -1.05% Nike Inc.

(NKE) $71.59 -0.91% Microsoft Corp.

(MSFT) $38.78 -0.70% Cisco Systems Inc.

(CSCO) $22.62 -0.44% Walt Disney Co.

(DIS) $80.77 -0.32% Wal-Mart Stores Inc.

(WMT) $77.91 -0.13% Caterpillar Inc.

(CAT) $103.80 -0.07% Nasdaq 100 - Risers Mondelez International Inc.

(MDLZ) $37.86 +7.50% Activision Blizzard Inc.

(ATVI) $20.64 +6.89% DIRECTV (DTV) $84.36 +3.22% TripAdvisor Inc.

(TRIP) $83.46 +2.57% Vimpelcom Ltd Ads (VIP) $8.33 +2.46% Vodafone Group Plc ADS (VOD) $38.34 +1.00% Kraft Foods Group, Inc.

(KRFT) $56.52 +0.83% Mattel Inc.

(MAT) $39.41 +0.61% Sigma-Aldrich Corp.

(SIAL) $96.75 +0.51% Charter Communications Inc.

(CHTR) $139.02 +0.43% Nasdaq 100 - Fallers Whole Foods Market Inc.

(WFM) $38.59 -19.52% Yahoo! Inc.

(YHOO) $34.15 -6.40% Baidu Inc.

(BIDU) $149.41 -5.33% Cognizant Technology Solutions Corp.

(CTSH) $46.59 -5.30% Keurig Green Mountain Inc (GMCR) $91.16 -4.36% Wynn Resorts Ltd.

(WYNN) $199.95 -3.66% Tesla Motors Inc (TSLA) $199.76 -3.63% Adobe Systems Inc.

(ADBE) $57.31 -3.59% NetApp Inc.

(NTAP) $33.82 -3.32% Facebook Inc.

(FB) $56.73 -3.08% AB


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Source: ENP Newswire


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