WALL STREET: Stocks weak as investors disappointed with quarterly earnings, 2010 guidance from drug giant Pfizer, Ryder Systems, along with drop in January same-store sales from Walgreen. Pfizer fell 2.3% after 4Q adjusted earnings a penny short of analysts' mean estimate and drug giant projected 2010 earnings excluding items below Wall Street expectations. Leasing and logistics company Ryder fell 7.7% after reporting 23% drop in 4Q earnings. Drugstore giant Walgreen fell 5.9% on surprise 1.1% drop in same-store sales for January. Company cited calendar effect, fewer incidences of flu. McDonald's and Wal-Mart Stores helped keep declines in check. McDonald's climbed 1.8% after Goldman Sachs raised its investment rating on stock to conviction buy from buy. Wal-Mart gained 1.5%. Big-box discount giant is laying off roughly 300 employees at its Bentonville, Ark., headquarters. In a memo to employees, Wal-Mart called the cuts the "last major strategic piece" of an effort to drive greater growth, leverage and returns. Dow fell 0.3%, Nasdaq flat, Philly semicons down 0.3%. (RSH) Contact us in Singapore. 65 64154 140
