Stocks finished mixed Friday, with blue chips posting small
declines after Fed Chair Janet Yellen said the U.S. central bank is
getting closer to reaching the central bank's targets for
employment and inflation, leaving some market participants
believing the Fed could begin to raise short-term interest rates
before mid-2015. Market sentiment turned downbeat following reports
of Russian forces crossing into Ukraine overnight, drawing
attention back to geopolitical developments in eastern Europe.
Friday's finish breaks a four-day winning streak for the S&P
500 and the Dow Jones Industrial Average, but major indexes log a
third straight winning week.
Russian trucks purported to be carrying relief supplies crossed
into Ukraine early today without Red Cross escorts as Ukraine
officials demanded, prompting the head of Ukraine's security
service to label the move a "direct invasion." U.S. officials
remain on edge with around 18,000 Russian soldiers assembled on the
Ukraine border, believing those troops are being positioned for an
But while both the Dow Jones Industrial Average and the S&P
500 ended in the red, the Nasdaq Composite extended its week-long
rally, closing with another small advance as technology and health
care stocks largely resisted downward pressure today.
Crude oil for September delivery reversed modest gains earlier
today to settle 31 cents lower at $96.65 per barrel while September
natural gas fell 5 cents to $3.84 per 1 million BTU. December gold
rose $5.10 on geo-political worries to settle at $1,280 per ounce
while September silver fell 3 cents to $19.38 per ounce. September
copper rose 2 cents to $3.20 per pound.
Here's where U.S. stocks stood at the end-of-day:
Dow Jones Industrial Average down 38.27 (-0.22%) to
S&P 500 down 3.96 (-0.20%) to 1,988.41
Nasdaq Composite Index up 6.45 (+0.14%) to 4,538.55
Hang Seng Index up 0.47%
Shanghai China Composite Index up 0.46%
FTSE 100 Index -0.04%
(+) PSMI, Agrees to $471 mln buyout offer by a North American
affiliate of Murata Manufacturing (
), which will pay $12.50 in cash for each PSMI share. The deal is
expected to close by the end of the year or early 2015.
(+) MSN, Declares extraordinary cash dividend of $0.70 per
common share, payable Sept. 30 to shareholders of record on Sept
(+) PRKR, Amends patent infringement complaint, adding Samsung
Electronics in addition to Qualcomm (
) and HTC. The amended complaint also adds four more patents to the
seven patents included in the original complaint.
(-) ZBB, Prices public offering of 11.52 mln at $1.12 apiece, a
22.2% discount to Thursday's closing price. Deal generates $14.84
mln in gross proceeds after underwriter exercises option to buy
1.73 mln additional shares.
(-) ARO, Forecasts Q3 net loss of $0.44 to $0.48 per share,
missing estimates by at least $0.09 per share. Q2 loss of $0.46 per
share is $0.03 wider than consensus. Revenue falls 12.7% year over
year to $396.2 mln.
(-) AMPE, Reduced to Hold from Buy at Jefferies, which also
trims price target by $9 to $5 a share.