The market review for October, 20st

Stock trades in the United States ended on Oct. 19 the growth of leading indexes to the new maximum marks for the past 12 months. Once again, the reason for the growth of quotations served favorable reports of a number of companies, including reports of one of the largest publishing houses in the U.S. Gannett Co. and electrical products manufacturer Eaton Corp., which surpassed analysts’ expectations. Against this backdrop, shares of Gannett, and Eaton risen up bidding on 8,2% and 5,7% respectively.

Analysts said the Moscow Stock Center, on Monday the U.S. stock market continued its upward movement on the background of expectations of positive corporate news release, growing cost of oil and improve U.S. futures indices. The lack of any significant macroeconomic statistics provided an opportunity “bulls” to dominate. Futures for the American index S & P 500 crept close to the mark of 1,100 points, as oil prices stayed below the key level of $ 80 per barrel. That also played into the hands tuned to increase investors. Better the market looked like the paper oil and gas and chemical sectors, worse – shares of banks.

Among the leaders of growth appeared and manufacturer of earth moving machinery Caterpillar Inc. Analysts Bank of America – Merrill Lynch raised its forecast for the value of the shares of the company, as well as the expected revenue in 2010-2011., Then the value of securities Caterpillar rose by 6%.

Grown on 3,4% shares of one of the world’s largest chipmakers Texas Instruments Inc., Which published its financial report after the close of the trading session. After the auction was also published on the popular American record producer gadgets Apple Inc., Whose shares trade results went up by 1%.

At 4,3% cheaper shares of the seventh the size of deposits in U.S. bank BB & T Corp., A financial report that disappointed analysts.

The increase in metals prices has strengthened the position on the trading floors in the largest U.S. aluminum producer Alcoa Inc. (+0.2%) And one of the world’s largest gold producers Barrick Gold Corp. (+0.8%). 2% increase in prices on shares of the second-largest U.S. car manufacturer Ford Motor Co., After market rumors that the company can significantly increase the earnings forecast for the III quarter of 2009.

Dow Jones index rose 96.28 points (0.96%) – to 10,092.19 points
NASDAQ – at 19.52 points (0.91%) – to 2,176.32 points
S&P – at 10.23 points (0.94%) – up to 1,097.91 points.

Sector :

Industry :

-Equity futures: S&P +6.0, Nasdaq +18.5
-10-year Note: +01/32 to 3.383%
-Dollar: 1.4975 $/euro, 1.6425 $/pound, 90.52 yen/$

-European Indices: FTSE +0.1%, DAX +0.2%, CAC +0.3%, MICEX +0.6%
-Asian Indices: Nikkei +1.0%, Hang Seng +0.8%; Shanghai Composite +1.5%

Key earnings/guidance since yesterday’s close:
-Apple (AAPL) beat by $0.40 in its fiscal fourth quarter (Sept) on better-than-expected revenue of $9.9 bln (First Call consensus $9.2 bln) and gross margin of 36.6% (consensus 35.5%). Breaking down the quarter’s sales figures, the company sold 7.4 mln iPhones vs. the Street expectation of ~7 mln, 3.05 mln Macs vs. the Street expectation of ~2.8 mln and 10.2 mln iPods vs. the Street expectation of ~10.5 mln. As is typical the company provided conservative guidance, seeing first quarter EPS of $1.70-$1.80 (consensus $1.91), revenue of $11.3-$11.6 bln (consensus $11.5 bln) and gross margin of 34% (consensus 35.3%). Shares of AAPL are up 6.5% premarket.
-Texas Instruments (TXN) beat by $0.03 in the third quarter on basically in line revenue of $2.88 bln and better-than-expected gross margin of 51.4% (consensus 49.1%). The company issued upside fourth quarter guidance, seeing EPS of $0.42-$0.50 (consensus $0.40) and revenue of $2.8-$3.0 bln (consensus $2.8 bln). Shares of TXN are up 2.5% premarket.
-Caterpillar (CAT) beat by a whopping 58% in the third quarter, but it came on weaker-than-expected revenue of $7.3 bln (consensus $7.5 bln). In reaction the company raised its 2009 EPS guidance to $1.85-$2.05 from $1.70 (consensus $1.49), but also lowered its 2009 revenue guidance to $32-$33 bln from $34 bln (consensus $33.1 bln). However, management said they believe the third quarter marked the low point for sales and revenues, as they are seeing encouraging signs that indicate a recovery may be underway. That helped them issue upside 2010 revenue guidance, expecting it to increase 10%-25% from the midpoint of the 2009 range, which equates to $35.8-$40.6 bln (consensus $33.1 bln), in part driven by the end of dealer inventory reductions which significantly impacted sales in 2009. Shares of CAT are up nearly 5% premarket.

Key economic data:
-September Housing Starts (consensus 610K; prior 598K) and Building Permits (consensus 595K; prior 579K) at 8:30ET
-September PPI m/m (consensus 0.0%; prior 1.7%) and y/y (consensus -4.3%; prior -4.3%) at 8:30ET
-September core PPI, which excludes food and energy, m/m (consensus 0.1%; prior 0.2%) and y/y (consensus 2.0%; prior 2.3%) at 8:30ET

Federal Reserve/Treasury calendar:
-Governor Warsh speaks at 11:00ET
-San Francisco President Yellen speaks at 15:30ET
-Philadelphia President Plosser and former St. Louis President Poole speak as part of a panel on monetary policy at 20:00ET

Key Note/Bond auction results:
-None

Earnings:
-34 companies are confirmed to report today after the close, including Yahoo! (YHOO)

Key industry conferences:
-None

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