msh sedikit om turun nya On Sat, Jun 4, 2011 at 8:59 AM, PH™ <[email protected]> wrote:
> > > Stocks Slide on Weak Jobs Report > 4:15 PM ET 6/3/11 | Briefing.com > Stocks finished in the red again today after this morning's employment > report came in below what were already low expectations. The S&P 500 > finished -1.0%, just off its lows, while the Nasdaq Composite finished > -1.5%. Today's losses were sparked by the morning employment data, which > showed that Nonfarm payrolls for May climbed by 54,000, which is less than > the 169,000 additions that had been expected, while the unemployment rate > ticked up to 9.1%. Although the data was still disappointing, it may have > been somewhat priced in after Wednesday's weaker-than-expected ADP > employment report, which was followed by a 2.3% selloff in the market. While > today's employment data was weak, the ISM Non-manufacturing Survey of 54.6 > surpassed the 53.3 Briefing.com consensus, in contrast to Wednesday's > disappointing ISM Survey. Today's weakness adds to losses earlier in the > week, and leaves the S&P 500 down 2.2% on the week, with disappointing > economic data being the driving factor. Today, energy stocks outperformed > with the S&P 500 Energy Index finishing the day flat and representing by far > the best performing sector. Baker Hughes (BHI 74.58, +0.98) was among the > best performers in the S&P 500 1.3% gain while other oil & gas equipment > service names such as Schlumberger (SLB 85.04, +0.75), and Halliburton (HAL > 50.28, +0.13) also fared quite well. Tech stocks were the worst performers > of the S&P 500 components, trading down 1.5% as a group. Consumer > Discretionary, Materials and Industrials all lost 1.3%. Shares of Orexigen > Therapeutics (OREX 2.12, -1.06) are a standout on the downside, losing 33% > after a Food and Drug Administration division advised the company that its > proposed cardiovascular outcomes trial would not adequately address the > approval deficiency for its Contrave weight-loss drug candidate. Instead, > the division requested a pre-approval cardiovascular outcomes trial that > Orexigen believes would generate significantly more information than is > feasible. In response, the company has put on hold any further clinical > development for its obesity programs in the U.S. and will accelerate the > exploration of opportunities outside of the country. Vivus (VVUS 8.25, > -0.29) and Arena Pharmaceuticals (ARNA 1.38, -0.03) are the two other > companies competing for approval of their obesity drug candidates. The > benchmark 10-yr yield slipped below 2.95% earlier this morning, but rose > back up to 2.997% and traded near there most of the day. > >
