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Buy Backs and Texas Inst.
Oct 25, 9:28 PM EDT |
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| EARNINGS WIRE: Amazon, 7 cents vs. 13 cents, Flextronics falls 14% on weaker revenue. DaimlerChrysler net decline 21%. AmeriTrade, 23 vs 14 cents. |
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| Share buybacks from IBM and duPont supported these stocks but not the market. Legg Mason shares fall 5% despite 32% earnings rise. Afer the clsoe, Amazon indicated Q4 revenue on the lower end of the estimates of $2.9 billion but 14% higher than a year ago. Stock drops 7%. CME reports earnings growth of 30%. Lockheed reports 96 cents vs. 69 cents a year ago and Northrop reports 80 cents, flat earnings growth. Both defense contractors beat the estimates. |
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Stocks Drop on Oil Rise
Oct 25, 6:04 PM EDT |
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| Crude oil prices climb back to over $62 a barrel and natural gas surges over 6% ahead of winter season and oil inventory report. |
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| U.S. stock markets have extended losses throughout the session on a renewed oil prices rise of over $2 a barrel and surging natural gas. Another drag of the market sentiment has been the tech sector with the chip maker Texas Instruments being the leading decliner, down 8%. An unexpected decline in consumer confidence sent the retal sector lower and the S&P retail index down 2%. |
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Natural Gas Surges 6%
Oct 25, 3:17 PM EDT |
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| Crude oil prices climb back to over $61 a barrel and natural gas surges over 6% ahead of winter season and oil inventory report. |
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| Tech sector declines as semiconductor Texas Instruments, which is down 7.5%, set a gloomy tone of the session, posting a disappointing fourth-quarter outlook, followed by Lexmark's lowered Q4 guidance. Chemical maker DuPont Corp. is rallying 4%, despite reporting a third-quarter loss, citing tax and hurricane-related charges. Lockheed Marin released Q3 39% net income jump. |
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Consumer Confidence Drops
Oct 25, 10:54 AM EDT |
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| the Conference Board revealed that its index of consumer confidence dropped to 85 in October, compared to the 87.5 recorded for September. |
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| Semiconductor Texas Instruments set a gloomy tone of the session, posting a disappointing fourth-quarter outlook. The stock is down 6%. Chemical maker DuPont Corp. is rallying 2%, despite reporting a third-quarter loss, citing tax and hurricane-related charges. Lockheed Marin released Q3 39% net income jump. |
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Disappointing Q4 Outlooks
Oct 25, 9:35 AM EDT |
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| Crude oil steadied round $60 a barrel. Gold prices climbed in European trading. The U.S. dollar declined. |
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| Asian-Pacific markets closed largely higher on Wall Street gains and the new Fed Reserve Chairman nomination of Ben Bernanke. The Nikkei surged 1.3%. European stock markets also advanced at mid-day, led by the German DAX 30, up 0.4%. On the earnings news front, semiconductor Texas Instruments posted a disappointing fourth-quarter outlook. Chemical maker DuPont Corp. reported a third-quarter loss, citing tax and hurricane-related charges. Lockheed Marin released Q3 39% net income jump. |
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