eMediaWorld; US Stocks trade down

October 17, 2011 7:48 AM7 commentsViews: 27

eMediaWorld;  US Stocks trade down

The main US equity benchmarks are now registering moderately strong falls (Dow Jones Industrial: -94, Nasdaq Comp.: -19, S&P 500: -10). The above following some sobering remarks out of Berlin this morning from Chancellor Angela Merkel´s spokesman, a modestly weaker than expected read on the New York Fed´s manufacturing index and ‘mixed’ results out before the opening bell from the likes of Wells Fargo. Citigroup, on the other hand, traded up following its own results.

Merger activity has taken off this weekend in the energy patch. Kinder Morgan has offered $21.1bn for El Paso, while Norwegian outfit Statiuk ASA has launched a bid on Brigham Exploration.

Sprint is gaining sharply after reporting record sales of the new iPhone 4S.

Morgan Stanley, Citi, and Goldman could benefit from positive coverage in the latest edition of Barron´s.

Results from Halliburton and Hasbro have come in weaker than expected.

Caterpillar could trade up on the back of a positive research note from Goldman Sachs.

MACROECONOMY

The Federal Reserve Bank of New York´s manufacturing sector index for the month of October has come in at -8.5, from -8.8 the month before (Consensus: -5.0).

Industrial production rose at a 0.2% on month rate in the month of September (Consensus: 0.2%), but several readings on the manufacturing sector for the past few months were marked down.

OTHER MARKETS

Front month West Texas crude futures are now down by 0.75%, to $86.15/barrel in NYMEX trading.

10 year US Treasuries are gaining 16/32 dollars, with yields at 2.19%.

S&P 500 – Risers
El Paso Corp. (EP) $24.20 +23.53%
Eastman Kodak Co. (EK) $1.33 +7.26%
Walgreen Co. (WAG) $34.23 +3.73%
Anadarko Petroleum Corp. (APC) $72.95 +3.37%
State Street Corp. (STT) $35.02 +3.30%
Williams Companies Inc. (WMB) $28.01 +2.53%
Cabot Oil & Gas Corp. (COG) $70.03 +2.50%
EQT Corp. (EQT) $64.34 +2.06%
Citigroup Inc. (C) $28.89 +1.73%
Sears Holdings Corp. (SHLD) $72.67 +1.58%

S&P 500 – Fallers
Gannett Co. Inc. (GCI) $10.23 -6.54%
Halliburton Co. (HAL) $35.03 -6.41%
Wells Fargo & Co. (WFC) $25.14 -5.74%
Western Digital Corp. (WDC) $26.87 -5.19%
Freeport-McMoRan Copper & Gold Inc. (FCX) $35.00 -4.81%
First Solar Inc. (FSLR) $53.54 -4.78%
PulteGroup Inc. (PHM) $4.22 -4.78%
Cliffs Natural Resources Inc. (CLF) $62.17 -4.66%
Hewlett-Packard Co. (HPQ) $24.99 -4.31%
Vulcan Materials Co. (VMC) $30.76 -4.23%

Dow Jones I.A – Risers
Home Depot Inc. (HD) $35.24 +0.54%
Intel Corp. (INTC) $23.59 +0.38%
AT&T Inc. (T) $29.21 +0.14%

Dow Jones I.A – Fallers
Hewlett-Packard Co. (HPQ) $24.99 -4.31%
Alcoa Inc. (AA) $9.92 -3.31%
3M Co. (MMM) $77.47 -1.80%
E.I. du Pont de Nemours and Co. (DD) $44.35 -1.64%
Travelers Company Inc. (TRV) $50.43 -1.64%
United Technologies Corp. (UTX) $73.49 -1.54%
Walt Disney Co. (DIS) $33.95 -1.51%
Boeing Co. (BA) $63.14 -1.17%
Cisco Systems Inc. (CSCO) $17.35 -1.11%
Pfizer Inc. (PFE) $18.87 -0.89%

Nasdaq 100 – Risers
Sears Holdings Corp. (SHLD) $72.67 +1.58%
Teva Pharmaceutical Industries Ltd. ADS (TEVA) $39.71 +1.38%
O’Reilly Automotive Inc. (ORLY) $70.72 +1.29%
Express Scripts Inc. (ESRX) $40.56 +0.95%
Yahoo! Inc. (YHOO) $16.01 +0.63%
Wynn Resorts Ltd. (WYNN) $135.29 +0.60%
Costco Wholesale Corp. (COST) $82.18 +0.50%
Intel Corp. (INTC) $23.59 +0.38%
Activision Blizzard Inc. (ATVI) $12.96 +0.31%
Mylan Inc. (MYL) $17.72 +0.28%

Nasdaq 100 – Fallers
First Solar Inc. (FSLR) $53.54 -4.78%
Marvell Technology Group Ltd. (MRVL) $14.37 -4.07%
Research in Motion Ltd. (RIMM) $23.07 -3.75%
Foster Wheeler AG (FWLT) $20.53 -3.75%
Vertex Pharmaceuticals Inc. (VRTX) $41.80 -3.42%
Logitech International S.A. (LOGI) $8.41 -2.83%
Hologic Inc. (HOLX) $15.14 -2.57%
NetApp Inc. (NTAP) $38.23 -2.55%
Warner Chilcott Plc (WCRX) $15.85 -2.52%
Cerner Corp. (CERN) $68.25 -2.46%

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