Login/Register

US midmorning: Dow Jones hits 13,000, first time since May 2008

International

US midmorning: Dow Jones hits 13,000, first time since May 2008

Tue, 21 February 2012
US midmorning: Dow Jones hits 13,000, first time since May 2008

-Dow Jones Industrials hits 13,000, first time since May 2008.
-Portugal needs more money to stay afloat –Der Spiegel.

Dow Jones Industrials: 0.36%
Nasdaq Composite: 0.38%
S&P 500: 0.41%



Following some gyrations at the start of the session the main US equity indices have turned around and are now heading higher. That following this morning´s agreement between Greece and its official and private sector creditors, which is expected to open the way for a second bail-out package.

Nonetheless, the latest quarterly company earnings announcements have come in decidedly mixed. Amongst those firms which seem to have undershot analysts´ expectations are Ciena, Wal Mart, Medtronic and Medco.

Results from Wal Mart are particularly noteworthy as it is the world´s largest listed retailer, as well as the biggest one in the United States. The company´s sales rose 5.8% to $122.3bn (Consensus: $123.92bn) in the fourth quarter, purportedly as low–income customers were hit by the rise in unemployment.

Telecommunications gear maker Ciena is falling sharply as well. The firm has cut its revenue guidance for the quarter ended on the past 31st of January to $415m, from between $435m and $455m previously expected.

Earnings results from Macy's and Saks on the other hand have come in ahead of forecasts.

Bank holding company CIT Group may benefit from a positive mention in the latest edition of Barron´s.

Casino operator Wynn Resorts is rallying 5.7% after buying out its largest shareholder’s stake at a 31% discount and asking him to leave the board after a bribery probe.

Of interest, as a backdrop, the S&P 500 index’s so-called earnings yield is at 7.1%, close to the highest on record when compared with the 10-year Treasury rate, according to data compiled by Bloomberg since 1962.

OTHER MARKETS

Front month West Texas crude futures are now rising sharply, by 1.5%, to the $104.79/barrel mark in NYMEX trading.

10 year US Treasuries are off by 8/32 dollars, with yields at 2.03%.

S&P 500 - Risers
Wynn Resorts Ltd. (WYNN) $120.45 +6.89%
Macy's Inc. (M) $38.04 +4.94%
CF Industries Holdings Inc. (CF) $185.82 +3.90%
Janus Capital Group Inc. (JNS) $9.16 +3.74%
Mosaic Company (MOS) $57.68 +3.68%
Nordstrom Inc. (JWN) $52.95 +3.54%
Alcoa Inc. (AA) $10.50 +3.45%
SunTrust Banks Inc. (STI) $23.47 +3.44%
Newmont Mining Corp. (NEM) $61.28 +3.08%
Owens-Illinois Inc. (OI) $24.78 +3.04%

S&P 500 - Fallers
Wal-Mart Stores Inc. (WMT) $60.13 -3.76%
Cabot Oil & Gas Corp. (COG) $35.36 -3.49%
Anadarko Petroleum Corp. (APC) $85.11 -3.34%
Gilead Sciences Inc. (GILD) $45.48 -3.23%
Sears Holdings Corp. (SHLD) $52.78 -3.21%
Medtronic Inc. (MDT) $38.72 -3.07%
Mylan Inc. (MYL) $22.77 -2.78%
KLA-Tencor Corp. (KLAC) $48.79 -2.75%
Southwest Airlines Co. (LUV) $9.18 -2.70%
DeVry Inc. (DV) $36.66 -2.68%

Dow Jones I.A - Risers
Alcoa Inc. (AA) $10.50 +3.45%
Kraft Foods Inc. (KFT) $38.69 +1.79%
Bank of America Corp. (BAC) $8.15 +1.68%
Caterpillar Inc. (CAT) $115.81 +1.63%
Home Depot Inc. (HD) $47.36 +1.39%
Chevron Corp. (CVX) $108.10 +1.35%
JP Morgan Chase & Co. (JPM) $38.89 +1.09%
General Electric Co. (GE) $19.48 +1.01%
AT&T Inc. (T) $30.31 +1.00%
Exxon Mobil Corp. (XOM) $86.40 +0.91%

Dow Jones I.A - Fallers
Wal-Mart Stores Inc. (WMT) $60.13 -3.76%
Travelers Company Inc. (TRV) $59.35 -0.84%
Merck & Co. Inc. (MRK) $38.33 -0.60%
Procter & Gamble Co. (PG) $64.61 -0.46%
Coca-Cola Co. (KO) $68.75 -0.43%
Intel Corp. (INTC) $27.30 -0.26%
Hewlett-Packard Co. (HPQ) $29.57 -0.07%

Nasdaq 100 - Risers
Wynn Resorts Ltd. (WYNN) $120.45 +6.89%
Foster Wheeler AG (FWLT) $24.73 +3.86%
Logitech International S.A. (LOGI) $8.96 +2.75%
Nvidia Corp. (NVDA) $16.27 +2.65%
Broadcom Corp. (BRCM) $38.62 +2.55%
Garmin Ltd. (GRMN) $45.24 +2.40%
Life Technologies Corp. (LIFE) $46.97 +2.29%
Urban Outfitters Inc. (URBN) $29.06 +2.04%
Apple Inc. (AAPL) $511.46 +1.86%
Cerner Corp. (CERN) $72.16 +1.65%

Nasdaq 100 - Fallers
Gilead Sciences Inc. (GILD) $45.48 -3.23%
Sears Holdings Corp. (SHLD) $52.78 -3.21%
Vertex Pharmaceuticals Inc. (VRTX) $38.08 -2.96%
Mylan Inc. (MYL) $22.77 -2.78%
KLA-Tencor Corp. (KLAC) $48.79 -2.75%
Lam Research Corp. (LRCX) $40.86 -2.67%
Virgin Media Inc. (VMED) $24.95 -1.93%
Apollo Group Inc. (APOL) $51.98 -1.46%
Activision Blizzard Inc. (ATVI) $12.06 -1.39%
Autodesk Inc. (ADSK) $38.39 -1.34%

AB

FTSE 100 Top Risers

Name Last Chg.% Time
Tullow Oil 425.60 6.85 16:43
Tesco 185.40 5.46 16:55
Randgold Resources Ltd. 4,431.00 4.41 17:03
Morrison (Wm) Supermarkets 176.20 3.65 17:03
BHP Billiton 1,377.50 3.57 17:02

FTSE 100 Top Fallers

Name Last Chg.% Time
TUI AG Reg Shs (Post- 16/12/14)(DI) 1,073.00 -3.25 17:01
SSE 1,624.00 -1.46 17:02
Smiths Group 1,072.00 -1.29 17:03
Sky 891.00 -1.22 16:43
Shire Plc 4,629.00 -1.13 17:15