The market review for May 6

Bidding on the U.S. stock market on Wednesday, May 5, were in the moderately negative way. Investors have been cautious because of the continuing concerns over the public debt of EU countries. According to some projections, the debt crisis could spread beyond Greece and become a deterrent to revive the global economy. Adds fuel to the fire, and information that the international rating agency Moody’s has placed on May 5 government bond ratings of Portugal at the level of Aa2 to the list to review possible reductions. This press release Moody’s said that ratings of Portugal can be lowered by one or even two stages as a result of the review, which will last up to three months.

In search of evidence of economic recovery the U.S. investors paid attention to the macroeconomic statistics, which were mixed. Number of created jobs in April, slightly exceeded expectations of the market (2 thousand) and amounted to 32 thousand pieces. It is worth mentioning that the situation on the labor market raises the most issues in terms of stability of the American economy, but now investors are more optimistic and do not expect unemployment. Some did not meet the expectations index of business activity in the service sector in April – it amounted to 55,4 points, while experts predicted growth of up to 56.4 points. This result can not be regarded as negative because the activity continues to grow, although its growth rate since March and is not accelerated. Nevertheless, the Dow Jones index on Wednesday was only briefly rise above the level of closing the previous session, up to 11000 points, he does not have lasted, and upset the market participants once again increase its value down properly.

As a result of trading on May 5 the Dow Jones index fell 59.94 points (-0.55%) – up to 10,866.83 points, NASDAQ down 21.96 points at (-0.91%) – up to 2,402.29 points, S & P lost 7.73 points (-0.66%) and amounted to 1,165.87 points.

Reducing the cost of the shares of representatives of the banking industry a little bit ahead of the market. It affected both European problems, to which the issuer is usually responsive to industry, and the revision of the international rating agency Fitch Ratings forecast on long-term and short-term Issuer Default ratings of the influential U.S. bank Goldman Sachs from “stable” to “negative.” The outlook revision reflects the position of the bank’s analysts Fitch, according to which the situation in regard to the claim of the Securities and Exchange (SEC) against Goldman Sachs, can have extremely negative impact on the reputation of the bank and its ability to generate revenue. Against this background, quotes Goldman Sachs Group Inc. decreased by 0,84%, followed by exiting Wells Fargo & Co. (-0,7%), Bank of America Corp. (-0,17%), US Bancorp (-0,3%), Citigroup Inc. (-1.88%) And Morgan Stanley (-0,68%). Rostom session were completed JPMorgan Chase & Co. (0.49%) and The Bank of New York Mellon Corp. (1.86%).

Adversely formed bidding for media companies News Corp. in connection with the past in the media information that earnings included in the corporation studio Twentieth Century Fox may be reduced. Bank J. P. Morgan Chase & Co. already downgraded the shares of the company with “above market” to “neutral.” As a result, shares of News Corp. have fallen in price on 5,19%. Against this background, left in a minus on 2,42%, even paper mediakontserna Time Warner Inc., Although the company reported on a record profit for the I quarter of 2010. She managed to earn 62 cents a share, to 14 cents exceeded the expectations of industry experts. The company’s management at the same time raised the profit forecast for the current year and no longer plans to boost its less than 15%. Other representatives of the media business is also not in demand: the capitalization of Walt Disney Co. decreased by 3,42%, Viacom Inc. – On 2,17% and the largest U.S. companies direct television broadcasting DIRECTV Group Inc. – On 1,01%.

The pressure on the cost of oil and gas companies has a negative dynamics in the energy market. A barrel of Brent oil losing value steadily for the past two trading sessions, and published statistics on commercial stocks of crude oil in the U.S. for the week ended April 30, supporting quotations are not provided. Inventories rose by 2.8 million barrels., While industry experts count on them to increase only 1.1 million barrels. Against this background, who had begun to bounce off the price of Brent crude has returned to the level of $ 82 per barrel. And most of the oil companies finished the day lower: Chevron Corp. – On 0,71%, ConocoPhillips – to 2,15%, Occidental Petroleum Corp. – On 4,23%, Anadarko Petroleum Corp. – On 3,99%, XTO Energy Inc. – On 0,32%, EOG Resources Inc. – On 4,6%, Marathon Oil Corp. – On 1,18%, and Exxon Mobil Corp. – On 0,45%.

The two series of consecutive days of decline was the first in the last month. This points to the still unfolding withdrawal medium investors after a negative closing last week. But it is worth noting that the experts on the U.S. market set for its near-term prospects are more optimistic than counterparts on the Russian market, as expected publication fairly good macro-economic data from the labor market and renewed speculative buying. Thursday will be published the number of initial applications for unemployment benefits, and on Friday – the unemployment rate for April, which is even expected to indicate it would decrease. From the perspective of technical analysis with the current levels for the Dow Jones index can bounce up, because, after already reducing polutoranedelnogo shaped candle Dodge, reinforced by the emergence after a long black candle, which leaves a “bear” is not very likely to continue to dominate the market.

Cogent Inc. (COGT:US): The maker of fingerprint- identification systems posted first-quarter profit excluding some items of 6 cents a share, trailing the average analyst estimate by 36 percent, according to Bloomberg data.

Gentiva Health Services Inc. (GTIV:US): The biggest U.S. provider of home health care increased its full-year earnings- per-share forecast to as much as $2.75 from up to $2.67, on the U.S. health-overhaul bill’s impact on Medicare payments. The company also reported first-quarter profit excluding some items that beat analysts’ estimates.

HealthTronics Inc. (HTRN:US): The provider of urology services agreed to be bought by Endo Pharmaceuticals Holdings Inc. (ENDP:US) for $223 million, or $4.85 a share, plus the assumption of debt.

Hewitt Associates Inc. (HEW:US): The provider of payroll, benefit, and consulting services reported second-quarter profit excluding some items of 73 cents a share, beating analysts’ estimates by 7 percent. The company also announced its acquisition of HRAdvance Inc., a company that performs audit services related to health-care benefits.

Liz Claiborne Inc. (LIZ:US): The apparel company reported a first-quarter net loss excluding some items of 38 cents a share, narrower than the 50-cent average analyst estimate.

Medifast Inc. (MED:US): The provider of weight loss programs posted first-quarter profit excluding some items of 33 cents a share, topping the average analyst estimate by 20 percent.

Pacer International Inc. (PACR:US): The provider of trucking, freight and transportation logistics services said that, excluding some items, it earned 1 cent a share in the first quarter. Analysts, on average estimated a loss of 16 cents, according to a Bloomberg survey.

Scotts Miracle-Gro Co. (SMG:US) rose 3.8 percent to $49.35. The maker of lawn-care products reported second-quarter profit excluding some items of $1.80 a share, topping the $1.46 average analyst estimate compiled by Bloomberg. The company also boosted its annual earnings per share forecast.

Symantec Corp. (SYMC:US) increased 5.2 percent to $17.10. The biggest maker of security software reported a fourth-quarter profit after customers added programs to protect and store information.

Titanium Metals Corp. (TIE:US) gained 3.3 percent to $14.91. The supplier of the lightweight metal reported first- quarter profit of 9 cents a share, more than triple the average analyst estimate.

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