Stocks Fall Sharply On jobs report (HAIN, ROVI, YRCW, MU, CFN)

U.S. stocks fell sharply On Friday as Jobs numbers came below market expectations and investors are waiting for weekend elections in Europe. The Dow Jones industrial average fell -169.57 (-1.28%) to 13,037.02. The Standard & Poor's 500 lost -21.89 (-1.57%) 1,369.68    . The Nasdaq Composite Index lost -60.61 (-2.00%) to 2,963.69.

This morning the Labor Department reported that U.S. nonfarm payrolls expanded 115,000 last month, well below expected 163,000 by the economists surveyed. The unemployment rate edged lower to 8.1% from 8.2%, but it fell because more people stopped looking for work. On the brighter side, job growth was revised modestly higher for both March and February. The increase in employment in March was revised up to 154,000 from an initial reading of 120,000. And the gain in February was revised up to 259,000 from 240,000.
The Hain Celestial Group, Inc.(NASDAQ:HAIN) soared 7.31% to $50.77 and made a new 52-week high of $51.48 after beating the estimates of analysts with both lines of its FQ3 report. Separately, the company says it snapped up Irish soup maker Cully & Sully for an undisclosed amount in a deal that it expects to be accretive to earnings in FY13.

Rovi Corporation(NASDAQ:ROVI) slumped 5.66% to $26.65 the company reported first-quarter net loss of $4.6 million or $0.04 per share, as compared to net income of $17.0 million or $0.15 per share in the previous year period. Adjusted pro forma income for the quarter was $61.0 million or $0.56 per share. Revenues for the quarter were $174.99 million, compared to $177.63 million in the prior-year quarter. Analysts expected earnings of $0.56 per share revenue estimate of $177.62 million for the quarter.

YRC Worldwide, Inc.(NASDAQ:YRCW) fell 7.80% to $6.18 after the company reported a loss of $79.8 million for the first quarter, compared with a loss of $98.6 million during the same quarter a year earlier. The trucking company's revenue during the quarter rose 6 percent to $1.19 billion, slightly above analysts' expectation of $1.185 billion. On a per-share basis, the company said it lost $12.40 compared with $643.56 a year earlier when adjusted to reflect a 1-for-300 reverse-stock split in December.

Micron Technology, Inc.(NASDAQ:MU) rose 2.78% as the company has won the bidding war for bankrupt Elpida, according to Japanese broadcaster NHK. The report comes after SK Hynix said it had dropped out of the bidding. Micron recently announced a convertible note offering many thought was Elpida-related. Hopes are up that an Elpida sale will lead to a further reduction in global DRAM capacity, and thus allow DRAM prices to continue their 2012 rally.

CareFusion Corporation(NYSE:CFN) added 4.61% after the company said that it earned 49 cents a share on an adjusted basis on revenue of $919 million, topping analysts’ estimates of 45 cents a share on revenue of $893 million.