It was another rough day for Wall Street as private jobs numbers sent all the major indices lower. The Dow 30 fared the best, only losing 97 (-0.55%), while the S&P 500 lost 12 (-0.59%), and the Nasdaq 100 shed 37 (-0.79%). Unlike yesterday, Apple (AAPL ) was unable to support the Nasdaq, and the biotech sector felt the selling pressure all day long.
Priceline (PCLN ) was slammed today losing 7.50%, and at one point was down over $150. The online travel services company reported better-than-expected first-quarter results, but the stock took a nosedive after its profit outlook fell short of Wall Street expectations. Today's results come days after the company's CEO stepped down after he confessed that he had a personal relationship with an employee.
Traders ran for the exit today ahead of Tesla's (TSLA ) earnings announcement. The company also announced today that two key executives will be leaving the company. This caused a decline of 4.20% today. As for earnings, the electric car maker is expected to report its first-quarter earnings after the bell. Its sales are expected to climb by nearly 50%. Analysts forecast Tesla to report an adjusted loss of $0.60 per share on $1.60 billion in revenue.
Under Armour (UA ) continued its 6th straight day of losses (-7.63%) as Brean Capital downgraded the athletic retailer to hold from buy. The firm cited execution risks and ongoing consolidation in the sector. The stock is now down over 17% from its April highs.
It wasn't all bad news today though. Time Warner (TWX ) gained 1.56% as the company's profit topped analyst expectations. The company reported earnings per share of $1.49 on revenue of $7.3 billion. Gains by CNN and HBO helped fuel Time Warner's 25% rise in first-quarter income.