The market review for April 23

Bidding on the U.S. stock market on Thursday, April 22, begin to reverse the quotes. Investors are concerned about the news from Greece, where the budget deficit in 2009. was revised from 12,7% to 13,6%, while gross debt was already 115.1% of GDP. International rating agency Moody’s on this background sovereign ratings downgraded Greece from A2 to A3. Over the last months rally bidders awaited the appearance of more or less weighty reasons for early profit taking, and finally got them. At least in the short term markets are expected to remain negative moods.

Published U.S. macroeconomic statistics have been mixed. Number of requests for unemployment benefit last week dropped, but not strong enough. Not very positive factor was the increase in March producer prices by 0,7%, while the expected increase of 0,4%. Formed from the manufacturers the possibility of increasing selling prices, of course, indicates a revival of the market, but rising inflation will provoke the Fed to speed up the process of tightening monetary policy that investors completely useless. The index of house prices in February fell slightly – by 0.2%. Better predictions were data on the volume of sales in the secondary housing market in March (sold 5.35 million homes, while the expected 5.25 million). Experts attribute this increase to government programs encourage home buying. Those who buy a house for the first time, receive a small monetary compensation.

President Barack Obama during his speech in New York on the reform of financial system drew attention to the rapid recovery of the economy, but expressed the view that this progress should feel the millions of unemployed Americans. The president also did not miss the opportunity to blame Wall Street that it was she who plunged the economy into recession, and promise to monitor closely the level of salaries of top managers of major companies. Good or bad, is not yet clear, but after the speech, Obama indexes began bouncing up and even managed to complete the session short.

As a result of trading on April 22 the Dow Jones index rose by 9.37 points (0.08%) – up to 11,134.29 points, NASDAQ – at 14.46 points (0.58%) – up to 2,519.07 points, S & P – by 2.74 points (0.23%) – up to 1,208.67 points.

With regard to corporate news, then a small portion of the negative relaxed investors still got it. Internet giant eBay Inc. not met their expectations forecast net profit at the II quarter of this year. The company announced its intention to earn 37-39 cents per share, and market participants are expected at 40 cents. Recommendation on the securities of the corporation with “neutral” to “sell” on Thursday lowered the experts MKM Partners. As a result, quotes fell to 5.74%.

Other listed companies internet services company eBay is not accounted for: the capitalization of Amazon.com Inc. rose by 2,5%, while Internet videoprokatchika Netflix Inc. generally flew at 15.26% and updated the historical maximum. The last reported a net profit on the basis of the last quarter of 59 cents per share, which was 5 cents above market expectations. Operating results videoprokatchika also pleased: the end of March there were already 14 million subscribers, and by July, Netflix expects to increase this number further 0,7-1 million. Optimize management of the company divided, and Citigroup Inc., Raised their recommendations on shares of Internet service with a “hold” to “buy”.

The largest producer of wireless communications chips Qualcomm Inc. reported that its net profit after the I quarter of 2010. amounted to 46 cents per share, revenue – to $ 2.66 billion, which coincided with the expectations of analysts. But, as in the situation with eBay, investors reacted negatively to the profit forecast for the current quarter in the range of 40-44 cents a share, while market participants less than 44 cents was expected. Capitalization of Qualcomm by the end of trading fell on 7,74%. Other representatives of the telecommunications industry finished the day in different directions: Motorola Inc. falling to 3.54%, while Cisco Systems Inc., American Tower Corp. and Broadcom Corp. growth on 0,3-0,9%.

Airline US Airways Group Inc. reported on April 22 to discontinue negotiations on the merger with UAL Corp., owns an air carrier United Airlines, for which forfeited fall capitalization 4,29%. Education one of the largest companies in the aviation market once again slipped. Other carriers appeared stronger, although brilliant, and their dynamics do not include: the largest airline in the U.S. Delta Air Lines Inc. limited decrease in 1,67%, AMR Corp. – On 2,45%, Southwest Airlines Co. – On 1,03%. Shares UAL Corp. and LAN Airlines SA by the end of the day went up by 1,31% and 1,61% respectively.

Leading American banks to the speech of Barack Obama responded calmly, and quotations of their shares after 20:00 Moscow time (start presentation) are not began to crumble. Results of the day for the banking industry were mixed. Decline ended session for JPMorgan Chase & Co. (-1,35%), Citigroup Inc. (-1.22%) And US Bancorp (-2,04%). Much of the most liquid companies on the basis of trades has risen: Bank of America Corp – on 1,42%, Goldman Sachs Group Inc. – On 0,08%, Wells Fargo & Co. – On 1,73%, Morgan Stanley – to 0,69%.

The situation on the U.S. stock market remains uncertain, the Dow Jones index continued consolidation in the lateral range of 11000-11150 points. In the current environment is absolutely unclear ended with “bulls” force or they simply hide them, so for larger purchases investors are still hesitant. Week draws to a close, and if Friday could give a similar surprise displayed by April 16, it will be the eighth consecutive week of growth, which can reassure bidders, confirming the preservation upward trend. More support, once even high levels of net corporate profits no one happy, wait until nowhere.

Acura Pharmaceuticals Inc. (ACUR:US): The company and its partner King Pharmaceuticals Inc. (KG:US) failed to win a U.S. panel’s backing to sell Acurox, an experimental painkiller that contains oxycodone and is designed to prevent abuse. Data submitted by the companies don’t show the drug’s abuse-deterrent properties are effective enough to support its approval, outside advisers to the Food and Drug Administration said.

King Pharmaceuticals fell 2.7 percent to $10.90.

Amazon.com Inc. (AMZN:US) fell 4.7 percent to $143. The online retailer predicted second-quarter earnings that missed analysts’ estimates, signaling its profitability may come under pressure as consumers’ tastes shift to digital books and movies.

American Express Co. (AXP:US): The biggest U.S. credit-card issuer by purchases said first-quarter profit doubled as consumers boosted spending.

Bucyrus International Inc. (BUCY:US) fell 7.2 percent to $65.69. The mining-equipment maker reported first-quarter earnings excluding some items of 69 cents a share, 14 percent less than the average of 18 analyst estimates in a Bloomberg survey.

Capital One Financial Corp. (COF:US) rose 5.4 percent to $48. The third-biggest issuer of Visa credit cards said first- quarter profit increased to 1.40 a share, more than double the average analyst estimate, as the company decreased losses for bad loans.

Costco Wholesale Corp. (COST:US): The largest U.S. warehouse club boosted its quarterly cash dividend to 20.5 cents a share from 18 cents a share.

Microsoft Corp. (MSFT:US) fell 1.5 percent to $30.91. The world’s largest software maker reported third-quarter revenue that missed analysts’ most optimistic predictions, a sign that corporate customers may be putting off computer purchases.

Synaptics Inc. (SYNA:US): The maker of touch pads for digital music players and electronic devices forecast fourth- quarter revenue that exceeded the average analyst estimate and said it plans to buy more as much as $100 million of stock.

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nyse    Market     agency moody, barack obama, bidders, budget deficit, government programs, gross debt, house prices, housing market, macroeconomic statistics, monetary compensation, negative moods, producer prices, rapid recovery, sess, sovereign ratings, term markets, top managers, u s stock market, unemployed americans, unemployment benefit

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