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Market Wrap for Thursday, March 21: Stocks Give Back Wednesday's Gains

The U.S. stock market gave back its gain from Wednesday as the ongoing bank crisis in Cyprus undermines investor confidence.The major averages in the United States tumbled and stocks were mostly lower across the world. Overall, however, the market remains on solid footing and economic reports continue to exceed economists' expectations.Major AveragesThe Dow Jones Industrial Average lost around 90 points, or 0.62 percent, to 14,421.The S&P 500 fell around 13 points, or 0.83 percent, to close at 1,546.The Nasdaq Composite lost 32 points, or 0.97 percent, to 3,223.Jobless ClaimsInitial jobless claims rose slightly for the week ending March 9 to 336,000 from an upwardly revised 334,000. This was below the consensus which expected a rise to 345,000.Continuing jobless claims also rose slightly in the week ending March 9 to 3.053 million from 3.048 million. This was below consensus expectations which expected the continuing claims rate to rise to 3.065 million.Existing Home SalesExisting home...

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  9. Jabil Circuit's Shares Fall After Weak 4Q

    Shares of Jabil Circuit (NYSE:JBL) opened nearly 9% lower on Wednesday a day after the electrical components company reported disappointing quarterly earnings.The St...

  10. Jabil Circuit Losses Stand Out As Techs Stumble

    Tech stocks were mostly in the red in early trading Wednesday, with Jabil Circuit Inc. posting one of the biggest declines. Jabil shares fell more than 8% to $19.16 ...

  11. Jabil Circuit Earnings Drop More Than 27%

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  1. Jabil Circuit Earnings Slip More Than 9%

    Jabil Circuit Inc. on Wednesday reported a fiscal second-quarter profit of $88.5 million, or 43 cents a share, on revenue of $4.4 billion. During the same period a y...

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  3. Jabil Agrees to Buy Nypro for About $665 Million

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  6. Jabil Results Beat Estimates, Shares Jump

    Jabil Circuit on Wednesday reported a fiscal first-quarter profit of $105.8 million, or 51 cents a share, compared with a profit of $112.9 million, or 54 cents a sha...

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    Stock futures rose on Wednesday as the latest offers in ongoing U.S. budget negotiations underlined hopes for a deal, while technology shares were lifted by strong r...

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