Home
Investment
News & Views
Company News
news storage
US close: 'Big Blue' drags down the Dow
Tue, 22 May, 2012
INVESTMENT NEWS
Company Search
Search QCK.COM
Investment Home
News & Views
Top Stories
Charting
Company Search
Watchlist
Market Reports
Market Buzz
Company News
Economic News
New Issues
Other News
US close: 'Big Blue' drags down the Dow
Thu, 2 Feb 2012, 23:37:00
Stocks ended the day slightly mixed, with investors holding fire ahead of Friday's non-farm payrolls data, the first major US economic indicator relating to the month of January. 
 
 Both the S&P 500 and the NASDAQ Composite crawled higher but the Dow Jones was dragged down by the likes of computer mainframe giant <b>International Business Machines</b> (IBM). 
 
 Earlier in the day IBM, a multinational technology and consulting firm, announced that it will cut thousands of jobs, mainly in Germany where 8,000 workers are set to lose their jobs, in a bid to slash costs and improve earnings, according to a German union official. No details were given as to when the cuts at "Big Blue" would take place. 
 
 In one of the most talked about flotations in recent stock market history, <b>Facebook</b> has finally filed its S-1 document to the Securities and Exchange Commission. 
 
 The social networking giant intends to raise $5bn when it débuts on Wall Street later this year, which could represent the largest ever flotation by an Internet company. Google's flotation raised $1.9bn back in 2004, valuing the search engine titan at $23bn. 
 
 Facebook is valued at between $75bn and $100bn.
 
 Clothing retailer <b>Gap</b> had a strong day with stocks gaining on a positive set of fourth quarter results which saw earnings per share beat analysts' expectations. Total sales were down in the quarter from $843m to $833m, a drop of 1%. 
 
 Meanwhile shares in another clothing retailer, <b>Abercrombie & Fitch</b>, plunged after it predicted its fourth quarter performance will fall below analysts' expectations; adjusted earnings for the three months coming it at $1.10 - $1.15 pre share, compared to $1.55 as predicted by analysts.
 
 <b>Alliant Techsystems</b>, the world's largest ammunition maker, fell after announcing plans to fire "a couple of hundred" people by April. 
 
 <b>MasterCard</b> shares rose to their highest level since its flotation in May 2006 on news its fourth quarter profits have soared 24% after spending on both credit and debit cards grew. 
 
 Futures exchange operator <b>CME Group</b> was flying high after it said it would start paying a yearly dividend in addition to its quarterly pay-outs.
 
 Computer game maker <b>Electronics Arts</b> moved up a level on the back of a steep increase in its third quarter net income. 
 
 <b>MACRO-ECONOMY</b> 
 
 Initial weekly unemployment claims fell by 12,000 last week, to 367,000. 
 
 Fourth quarter labour productivity rose by 0.7% on the quarter (Consensus: 0.8%). 
 
 Corporate lay-off announcements increased by 28% last month, to 53,486 according to consultancy Challenger. 
 
 <b>OTHER MARKETS</b> 
 
 Front month crude futures ended the day down 1.28% to settle at $96.36 per barrel on the New York Mercantile Exchange. 
 
 US Treasuries were little changed. The 10-year bond rose 3/64 of a dollar, and offered a yield of 1.82%.
 
 
 <b>S&P 500 - Risers</b>
 Gap Inc. (GPS) $21.52 +10.64%
 CME Group Inc. (CME) $266.01 +8.36%
 Big Lots Inc. (BIG) $42.82 +8.27%
 Alpha Natural Res (ANR) $21.64 +7.55%
 Cummins Inc. (CMI) $113.31 +7.08%
 Mastercard Inc. (MA) $381.57 +6.70%
 
 <b><b>S&P 500 - Fall</b>ers</b>
 Abercrombie & Fitch Co. (ANF) $40.40 -13.73%
 Ameriprise Financial Inc. (AMP) $50.38 -8.03%
 JDS Uniphase Corp. (JDSU) $12.19 -7.16%
 Ryder System Inc. (R) $53.02 -6.88%
 AK Steel Holding Corp. (AKS) $9.04 -5.54%
 
 <b>Dow Jones I.A - Risers</b>
 Alcoa Inc. (AA) $10.42 +2.16%
 Bank of America Corp. (BAC) $7.45 +1.22%
 American Express Co. (AXP) $51.16 +1.07%
 
 <b>Dow Jones I.A - Fallers</b>
 Walt Disney Co. (DIS) $38.91 -1.07%
 Pfizer Inc. (PFE) $21.11 -0.94%
 Hewlett-Packard Co. (HPQ) $28.50 -0.90%
 Verizon Communications Inc. (VZ) $37.56 -0.63%
 Exxon Mobil Corp. (XOM) $83.53 -0.52%
 International Business Machines Corp. (IBM) $191.65 -0.50%
 
 <b>Nasdaq 100 - Risers</b>
 Nll Holdings Inc. (NIHD) $22.60 +10.14%
 BMC Software Inc. (BMC) $38.25 +6.66%
 Electronic Arts Inc. (EA) $19.57 +6.10%
 First Solar Inc. (FSLR) $44.74 +4.83%
 Intuitive Surgical Inc. (ISRG) $483.00 +4.33%
 
 <b>Nasdaq 100 - Fallers</b>
 Warner Chilcott Plc (WCRX) $16.45 -2.78%
 PACCAR Inc. (PCAR) $43.24 -1.95%
 VeriSign Inc. (VRSN) $36.83 -1.68%
 Apollo Group Inc. (APOL) $52.16 -1.58%
 Expeditors International Of Washington Inc. (EXPD) $43.46 -1.54%
 
 
 
 NR
©2004-2009 QCK.com
