The market review for April 8

On Wednesday, April 7, trades on the American stock market started lower prices. There is still strong concerns about the ability of Greece to resolve debt problems, investors fear that Athens may revise the agreement on assistance from the EU and the IMF. In addition, two unsuccessful attempts to overcome the mark of 11000 items index Dow Jones instill fear, which is higher than the market can not rise, and hence there will be no inflow of new portions of investment capital. Against this backdrop, prudent bidders preferred to reduce the portion of long positions, while the indices did not go far from the many months of highs.

Only a short time was able to cheer up the players Fed Chairman Ben Bernanke, who reported the stabilization of the economy and the beginning of its growth. As noted by B. Bernanke, financial crisis for the most part passed, but there are still problems associated with an increase in the number of delinquency on mortgage loans, weak commercial real estate market and the negative situation on the labor market. But there is no problem with inflation, which will postpone the implementation of measures aimed at reducing the federal deficit. “But in the long term will have to choose between higher taxes and reduced public expenditure” – warned the head of the Fed.

As a result of trading on April 7th the Dow Jones index dropped by 72.47 points (-0.66%) – up to 10,897.52 points, NASDAQ – at 5.65 points (-0.23%) – up to 2,431.16 points, S & P – by 6.99 points (-0.59%) – up to 1,182.44 points.

Continued sale of securities coal company Massey Energy, in an accident in a coal mine in West Virginia that killed 25 people. Rescue work continues, but they are complicated by gassy air. Companies likely to be trial and testing, and bidders such investments to anything. Paper Massey Energy on Wednesday failed on 6,67%.

At 1,51% up quotes largest U.S. coal company Peabody Energy Corp. due to post its intention to raise the price offered for the Australian group Macarthur Coal. Peabody is interested in buying Australian mines because their products are exported to China, whose imports in 2009. tripled.

Among other steel companies to complete the daily growth was only gold miners Newmont Mining Corp. (1.54%). Support for him has now lasted three weeks of growth in prices for gold and in particular their approach to the maximum elevation of 2010. Alcoa Inc. lost 1.93% of the capitalization, United States Steel Corp. – 3,53%, Southern Copper Corp. – 1,33%, Freeport-McMoRan Copper & Gold Inc. – 1,6%, Arcelor Mittal – 2,07%. Weaker looked AK Steel Holding Corp. (-3,6%). Analysts Dahlman Rose was given a company’s securities recommendation “hold”.

In the oil and gas sector soared to 6.53% quotes of the largest independent producer of hydrocarbons EOG Resources Inc. This was a consequence of a number of statements by representatives of the company: to increase the proven reserves, plans to double-digit growth in production until 2012. and the intention to hedge the risks, if oil prices get to around 90 dollars per barrel. Other industry representatives have only lost: Exxon Mobil Corp. – 0,82%, Chevron Corp. – 0,65%, ConocoPhillips – 0,73%, Occidental Petroleum Corp. – 2,47%, Anadarko Petroleum Corp. – 1,97%, Devon Energy Corp. – 0,99%, Marathon Oil Corp. – 1,93%, XTO Energy Inc. – 0,59%.

Look bad American paper medakompanii AOL Inc., Sharing thoughts with investors about the future of social network Bebo. Number of visitors to Bebo falls in February, there were about 5 million in the same Facebook, for example, in February there were about 112 million visitors, and the current dynamics does not allow for optimistic forecasts about the product AOL. The Corporation does not intend to continue to fund the unpopular draft. Investors reacted to the news positively, and capitalization of AOL rose to 3.98%.

Published one hour before closing the February data on the volume of consumer lending buried the hopes that the January increase in marking the beginning of improvements in the sector. As it turned out, the change rate in February was minus 11,5 billion dollars, which was worse most pessimistic forecasts. As a result, quotes the regional banks, cheerfully added the day before, went considerably lower levels of the closure Tuesday. Price US Bancorp shares fell by 1,4%, Zions Bancorp. – On 2,14%, Fifth Third Bancorp. – On 0,35%, SunTrust Banks Inc. – On 0,63%. However, some representatives of the tops of the banking sector is not affected. Quotes Goldman Sachs Group Inc. rose by 2%, Bank of America Corp. – By 0,7%, and Citigroup Inc. – On 1,63%. Loss of remaining confined to one or two percent.

The fact that the Dow Jones index could not even briefly rise above the level of closing on April 6 is a negative signal to the market. As the failure of new attempts to reach 11000 points cherished by index investors may begin to lose patience and close positions. Empiric Funds Portfolio Manager Mark Koffelt believes that after two months of sustained growth the stock price should fall. However, a strong reduction of the expert does not expect, because, according to his information, many investors do not have on hand and stock or awaiting confirmation of an uptrend, or will pick up the paper as the fall of their value.

Bed Bath & Beyond Inc. (BBBY:US): The home-furnishings retailer reported fourth-quarter earnings per share of 86 cents, beating the average analyst estimate of 73 cents in a Bloomberg survey.

Compellent Technologies Inc. (CML:US): The storage area network producer cut its forecast for first-quarter revenue to between $31.5 million and $32 million, down from a previous range of $35 million to $37 million.

Dolan Media Co. (DM:US): Standard & Poor’s said the business-information company will replace NewMarket Corp. (NEU:US) in the S&P SmallCap 600 Index. NewMarket will take 3Com Corp.’s (COMS:US) place in the S&P MidCap 400 Index. 3Com is being purchased by Hewlett-Packard Co.

Forest Laboratories Inc. (FRX:US): The drugmaker failed to win a U.S. panel’s backing to sell a new treatment for flare-ups of a common lung ailment.

Hot Topic Inc. (HOTT:US): The clothing retailer said it will pay a one-time cash dividend of $1 a share and its board authorized a 7 cent per-share regular quarterly dividend.

Houston American Energy (HUSA:US): The energy company said an Internet posting that it is on the verge of collapse was “unwarranted and outrageous.” Houston American responded in a PRNewswire statement to an item on the Seeking Alpha website after its shares fell 29 percent. The company also said it isn’t a party to any litigation.

Standard Microsystems Co. (SMSC:US): The semiconductor maker boosted its first-quarter forecast for earnings excluding some items to between 23 cents and 28 cents a share. Analysts in a Bloomberg survey estimated 18 cents.

US Airways Group Inc. (LCC:US): The New York Times reported that the airline is in talks about a merger with rival UAL Corp. (UAUA:US), the parent of United Airlines, citing unidentified people familiar with the matter. UAL added 8.2 percent to $20.50.

WD-40 Co. (WDFC:US): The maker of lubricants and handsoap reported earnings per share excluding some items of 64 cents, beating the average analyst estimate in a Bloomberg survey by 72 percent.

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