SOURCE: Five Star Equities

Five Star Equities

June 07, 2012 08:20 ET

Pfizer and Staples Shares Dip as U.S. Job Growth Slows -- S&P 500 Falls 10% From 4-Year High

Five Star Equities Provides Stock Research on Pfizer and Staples

NEW YORK, NY--(Marketwire - Jun 7, 2012) - Growing concerns of a global economic slowdown and potential recession in Europe have continues to weigh down the markets. In the month of May we saw the Dow Jones Industrial Average erase its gains for the year and valuations in the Standard & Poor's 500 Index fall 19 percent below 2011 levels. Five Star Equities examines the outlook for companies in the S&P 500 and provides equity research on Pfizer Inc. (NYSE: PFE) and Staples, Inc. (NASDAQ: SPLS).

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Data compiled by Bloomberg show that the S&P 500 is trading at 12.9 times profit in the last year; in February of last year the S&P 500 was trading at 15.9 times. On Friday, the S&P 500 saw their largest decline since November. The Labor Department reported Friday that the unemployment rate grew to 8.2 percent from 8.1 percent, and employers in the U.S. added only 69,000 jobs, the lowest total in a year. The S&P 500 has fallen almost 10 percent, from its four-year high in April, in the last week.

"You have to take your hits," said Michael Shaoul, chairman of Marketfield Asset Management. "You don't let it change your mind about domestic U.S. activity. You can be patient with U.S. economic growth and the market, and I still keep that view after this."

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Pfizer recently reported that the Committee for Human Medicinal Products (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion regarding the marketing authorization of axitinib in the European Union (EU), for the treatment of adult patients with advanced renal cell carcinoma (RCC), a type of advanced kidney cancer.

Staples, Inc. is the world's largest office products company and a trusted source for office solutions. The company last month announced net income for the first quarter of 2012 decreased six percent year over year to $187 million. Diluted earnings per share, on a GAAP basis, decreased four percent to $0.27 from $0.28 achieved in the first quarter of 2011.

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