Bad news from Pfizer and transport companies sent stocks into a decline Wednesday. Disappointing results in the services sector, with slower-than-expected expansion also weighed heavily on the markets.

Pfizer Inc led a broad decline in several healthcare sectors, falling 1.6 percent to $18.75. The world’s biggest drug maker said quarterly earnings missed estimates and forecast profits fell below expectations.

This was a disappointing day for investors. Ryder tumbled 8.7 percent to $34.08, and C.H. Robinson fell 6.2 percent to $53.90. In all, the Dow Jones transportation average lost 1.3 percent.

In a separate report, the Institute for Supply Management said its service sector index rose to 50.5 in January from a downwardly revised 49.8 in December. This was lower than economists expected, with an increase to 51.0 versus the originally reported 50.1 for the previous month. A reading above 50 indicates growth in the sector.

Treasury prices dipped, raising the yield on the 10-year note to 3.70% from Tuesday’s 3.63%.
The price of a barrel of oil slipped 30 cents to $76.93 U.S. Gold prices fell six dollars to $1,112 U.S.

All in all, after a two-day rally, the Dow closed down 26.30 points to 10,270.55. The S&P 500 index slid 6.04 points to 1,097.28. The Nasdaq composite regained 0.85 points to 2,190.91.

In a tiny ray of hope, a report by ADP Employer Services showed the pace of U.S. job losses in the private sector slowed in January. Private employment fell by 22,000 jobs in January, less than economists’ expectation for a decrease of 30,000 jobs. Employers surveyed reported the smallest payroll decline in nearly two years.

Everyone is watching closely for the government jobs report due Friday, which is expected to show continued improvement in U.S. employment.

Meanwhile, over in the Penny Stocks market…

Budget Center Inc. (OTC BB: BDGN) was a top penny stock yesterday. This made it one of the strongest penny stocks of the day, closing up over 31% on trading volume of 21,518 shares.