MetLife dropped $1.03, or 2%, to $51.78 after the country's biggest life insurer cut its full-year earnings forecast and said operating profit fell short of analysts' forecasts.
In other market highlights:
MetLife dropped $1.03, or 2%, to $51.78 after the country's biggest life insurer cut its full-year earnings forecast and said operating profit fell short of analysts' forecasts.
In other market highlights:
* Wyeth lost $5.37, or 12%, to $39.74 after its experimental Alzheimer's drug was linked to a brain-swelling side effect in a test. The company's drug, bapineuzumab, developed with Elan Corp., showed no benefit for the majority of Alzheimer's patients.
* CB Richard Ellis Group and Jones Lang LaSalle plunged after the commercial real estate brokers reported declines in second-quarter earnings, citing weakness in property sales and leasing stemming from the credit crisis. Los Angeles-based CB Richard Ellis sank $4.62, or 25%, to $14.03. Chicago-based Jones Lang slumped $8.48, or 15%, to $48.25.
* Lake Forest-based Apria Healthcare Group, the largest U.S. provider of home medical equipment, fell 29 cents, or 1.5%, to $19.38 after delaying a conference call with investors, saying it needed to analyze a possible misstatement in its accounts. The stock has fallen 10% this year.
* Cummins rose $4.48, or 6.8%, to $70.50 after the engine maker posted better-than-expected second-quarter earnings and boosted its full-year revenue forecast, citing strong overseas sales.
* Office Depot dropped 13 cents, or 1.9%, to $6.77. The office supply retailer's second-quarter earnings excluding one-time items surpassed expectations, but slow domestic demand weighed on the results.
* Stocks surged overseas. Key indexes climbed 1.6% in Japan, 1.9% in Britain, 1% in Germany and 1.9% in France.