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US close: Stocks hit by Spanish worries

Date: Friday 25 May 2012

US close: Stocks hit by Spanish worries

US stocks finished slightly lower on Friday afternoon ahead of a long weekend with Wall Street closed on Monday for Memorial Day, as concerns over the Eurozone outweighed some better-than-expected consumer sentiment data.

Weighing on sentiment late on were reports that Spain will inject €19bn into troubled financial group Bankia, taking its total investment into the institution to €23.5bn, giving the government around a 90% stake. Meanwhile, there were rumours that the state of Catalonia has requested financing help from the central government in order to meet its debt obligations.

In other news, Peter Bofinger, economist of a member of the group which advises the German government, has said that the terms of Greek bailout should be renegotiated as “they were made under the assumption of a much better cyclical development”.

Also weighing on sentiment were reports that China's banks could miss their 2012 loan targets, exacerbating concerns over a slowdown in the world's second-largest economy.

In US economic news, the Thomson Reuters/ University of Michigan’s final reading on consumer confidence for the month of May has come in at 79.3, following a reading of 77.8 in the month before. Analysts were expecting an unchanged figure. In particular, the expectations sub-index improved to 74.3, the highest since July 2007, from 72.3 in April.

COMPANIES

Social media group Facebook finished at $31.90, down 3.43% and well below its debut price of $38 as it continued to receive criticism over its initial public offering.

Chesapeake Energy rose after billionaire activist investor Carl Icahn became one of its biggest shareholders.

Big Lots jumped despite a 22% fall in quarterly profit as it announced a share repurchase programme worth $200m


S&P 500 - Risers
Sandisk Corp. (SNDK) $33.73 +4.59%
Newfield Exploration Co (NFX) $31.06 +4.51%
Big Lots Inc. (BIG) $37.30 +4.34%
Micron Technology Inc. (MU) $5.96 +3.83%
Sprint Nxtel Corp. (S) $2.62 +3.56%
Whirlpool Corp. (WHR) $60.56 +3.47%
Advanced Micro Devices Inc. (AMD) $6.22 +3.32%
Marathon Petroleum Corporation (MPC) $36.88 +3.02%
Newell Rubbermaid Inc. (NWL) $18.94 +2.99%
J.C. Penney Co. Inc. (JCP) $28.08 +2.82%

S&P 500 - Fallers
Harman International Industries Inc. (HAR) $40.59 -2.66%
Lorillard Inc. (LO) $124.84 -2.61%
Pall Corp. (PLL) $56.95 -2.42%
Priceline.Com Inc. (PCLN) $652.88 -2.41%
Tiffany & Co. (TIF) $56.32 -2.21%
Google Inc. (GOOG) $591.53 -2.01%
Boeing Co. (BA) $70.00 -1.95%
Allegheny Technologies Inc. (ATI) $34.11 -1.93%
Flowserve Corp. (FLS) $105.93 -1.92%
Range Resources Corp. (RRC) $61.01 -1.87%

Dow Jones I.A - Risers
Hewlett-Packard Co. (HPQ) $22.33 +2.57%
Wal-Mart Stores Inc. (WMT) $65.31 +0.37%
Intel Corp. (INTC) $25.74 +0.35%
AT&T Inc. (T) $33.69 +0.15%
Verizon Communications Inc. (VZ) $41.45 +0.14%
Bank of America Corp. (BAC) $7.15 +0.14%
Walt Disney Co. (DIS) $44.50 +0.14%

Dow Jones I.A - Fallers
Boeing Co. (BA) $70.00 -1.95%
Caterpillar Inc. (CAT) $89.94 -1.62%
JP Morgan Chase & Co. (JPM) $33.50 -1.38%
Chevron Corp. (CVX) $98.86 -1.20%
American Express Co. (AXP) $55.81 -0.94%
Johnson & Johnson (JNJ) $62.51 -0.94%
Travelers Company Inc. (TRV) $62.60 -0.93%
International Business Machines Corp. (IBM) $194.30 -0.91%
United Technologies Corp. (UTX) $73.02 -0.65%
Exxon Mobil Corp. (XOM) $82.08 -0.64%

Nasdaq 100 - Risers
Sandisk Corp. (SNDK) $33.73 +4.59%
Research in Motion Ltd. (RIMM) $11.00 +2.71%
Nvidia Corp. (NVDA) $12.40 +2.39%
Virgin Media Inc. (VMED) $22.26 +2.02%
Lam Research Corp. (LRCX) $38.37 +1.97%
Altera Corp. (ALTR) $34.42 +1.95%
Apollo Group Inc. (APOL) $33.12 +1.88%
Express Scripts Inc. (ESRX) $52.63 +1.86%
Nll Holdings Inc. (NIHD) $11.14 +1.83%
Patterson Companies Inc. (PDCO) $34.04 +1.76%

Nasdaq 100 - Fallers
Priceline.Com Inc. (PCLN) $652.88 -2.41%
Google Inc. (GOOG) $591.53 -2.01%
Infosys Technologies Ltd. (INFY) $42.46 -1.67%
Celgene Corp. (CELG) $68.90 -1.44%
Garmin Ltd. (GRMN) $43.19 -1.21%
Wynn Resorts Ltd. (WYNN) $102.04 -1.15%
Amazon.Com Inc. (AMZN) $212.89 -1.09%
Cintas Corp. (CTAS) $37.31 -1.09%
Dish Network Corp. (DISH) $28.24 -0.95%
Intuitive Surgical Inc. (ISRG) $526.55 -0.93%

BC

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