Stocks Opened Lower on China, Ukraine Worry

U.S. stocks fell at the open on Monday on concern China’s economy is continuing to lose momentum and deteriorating situation in Ukraine, where scores of people were injured during violent clashes. The Dow Jones industrial average lately fell 111.23 points, or 0.67%, to 16,401.66. The S&P 500 lost 11.08 points, or 0.59%, to 1,870.06 and the Nasdaq Composite dropped 26.96 points, or 0.65%,, to 4,096.93.

Gregg Steinhafel, the chairman and chief executive of Target, resigned on Monday, the latest in a series of moves made by the company as it struggles to recover from last year’s extensive data breach of customer information.

The drug maker Pfizer said Monday that its profit fell by 15 percent in the first quarter of this year as it
continued to deal with the impact of expiring patents and promotional agreements for some of its best-selling drugs. Pfizer’s revenues decreased almost $1.1 billion, or 9 percent.

Orbitz Worldwide Inc. (OWW) said its first-quarter revenue rose 3.7%, driven by higher overall bookings and a recent acquisition. The company reported a loss of $5.9 million, or 5 cents a share, compared with a profit of $146.2 million or $1.34 a share, a year earlier.

Apple Inc is building a team of senior medical technology executives, raising hackles in the biotechnology community and offering a hint of what the iPhone maker may be planning for its widely expected iWatch and other wearable technology.