Aruba Networks Inc. fell the most in in more than five years after the maker of wireless-network equipment forecast quarterly results that trailed analysts’ estimates amid increased competition from Cisco Systems Inc.
U.S. stocks rose, sending the Dow Jones Industrial Average briefly above 15,000 for the first time, as employment picked up more than forecast in April and the jobless rate unexpectedly declined to a four-year low.
U.S. stocks fell, dragging the Standard & Poor’s 500 Index from a record high, on slower growth in American payrolls and manufacturing as the Federal Reserve said it will maintain its bond buying to support the economy.
Jones Group Inc., the owner of the Jones New York, Nine West and Anne Klein fashion brands, will close 170 stores and cut 8 percent of its workforce after first- quarter profit trailed analysts’ estimates.
Evercore Partners Inc., the advisory firm started by former U.S. Deputy Treasury Secretary Roger Altman, posted a first-quarter profit that missed analyst estimates as the pace of global deal-making slowed.
U.S. stocks tumbled, sending the Standard & Poor’s 500 Index to its biggest drop of the year as a gauge of market volatility jumped the most in 20 months, after China’s economy grew at a slower pace than forecast.