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Markets end the week in the red

Hot Stock Minute

Markets ended the week down The Dow (^DJI) ended the day at down 0.27% The Nasdaq (^IXIC) closed dow 0.09% And the S&P 500 (^GSPC) ended the day down 0.14%.

President Obama met with German Chancellor Angela Merkel today and said there would be new sanctions against Russia if it didn’t stop interfering in the Ukraine. President Obama said there would be more severe economic sanctions if Russia disrupts the Ukrainian election scheduled for May 25. He said the U.S. had been consulting with the E.U. and G7 partners about further sanctions, but acknowledged targeting Russia’s energy sector would be difficult.

Wynn Resorts (WYNN) climbed 12% after reporting first quarter earnings yesterday. Net revenue increased 9.8% to $1.51 billion helped by higher revenues from casinos, rooms and food and beverages. The company also said revenue increased 14% from its operations in Macau, the only place in China where gambling is legal.

News Corporation (NWSA) will acquire fiction publisher Harlequin Enterprises, known for romance novels, for $415 million from the Toronto-based Torstar. When acquired, Harlequin will be part of News Corp’s HarperCollins Publishers.

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