LinkedIn's full-year revenue forecast fell short of market expectations, prompting at least 14 brokerages to cut their price targets on the stock. The company's shares were down more than 5 percent at $152.65 in late morning trading on the New York Stock Exchange on Friday. "We believe that Street expectations were running too high, and that (LinkedIn) is trying to level set those expectations," CRT Capital analysts wrote in a note, cutting their price target to on the stock to $225 from $235.
Stocks are little changed in midday trading as investors' enthusiasm about a surge in U.S. hiring last month was held back by mixed earnings news and a flare-up in tensions in Ukraine. The government reported that U.S. employers added 288,000 jobs in April, the most in two years and the strongest evidence to date that the economy is picking up after a brutal winter.
U.S. employers added a robust 288,000 jobs in April, the most in two years, the strongest evidence to date that the economy is picking up after a brutal winter slowed growth. The Labor Department also said Friday that the unemployment rate sank to 6.3 percent, its lowest level since September 2008, from 6.7 percent in March. But the drop occurred because the number of people working or seeking work fell sharply. People aren't counted as unemployed if they're not looking for a job.
Gold prices are weaker in early U.S. trading Friday, losing early modest gains in the immediate aftermath of a U.S. jobs report that beat market expectations. June gold was last down $4.30 at $1,279.20 an ounce. Spot gold was last quoted down $10.00 at $1,281.75. May Comex silver last traded up $0.011 at $19.00 an ounce.