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February 2, 2013

Gains bring mixed reaction

(Continued)

NEW YORK —

The jobs number is based on a survey of employers. The unemployment rate is based on a separate survey of households, which is why they can diverge.

Among stocks making big moves:

—Drugmaker Merck fell more than 3 percent, down $1.42 to $41.83. Its fourth-quarter profit suffered because of competition from generic medicines against its blockbuster allergy drug Singulair.

— Insurance company MetLife rose more than 2 percent, up 86 cents to $38.20, after saying it plans to buy the largest private pension fund administrator in Chile.

— Zoetis, an animal health business that Pfizer just spun off, made its debut on the stock market. It shot up 19 percent, rising $5.01 to $31.01.

————

AP Business Writer Matthew Craft contributed to this report.

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