Thursday, July 29, 2010

U.S. indexes fell on Friday the 3rd consecutive day on weak corporate reporting

Wednesday, February 17, 2010, 20:18
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U.S. indexes declined in early trading on Friday, opening is the third straight session decline, reported Bloomberg. Output negative reporting Schlumberger and Google had affected investor sentiment.

Google shares have fallen in price at the auctions in New York at 2.9% after the company reported that its earnings, excluding charges for partner sites, grew 13%, analysts expected the growth rate of 17%.

Papers

oilfield services company Schlumberger fell in price by 1,5%. The company said that its net profit within the next quarter decreased by 31% - up to $ 795 million that was worse than analysts” expectations.

market value of Freeport-McMoRan Copper Gold fell by 2,4% on the message that analysts Goldman Sachs lowered the recommendation for the securities of the company to “neutral” from “sell.”

In addition, negative for the market was the message to analysts Goldman Sachs, declared that the tightening of credit policies in China could adversely affect the development of steel industry in the United States. As a result, the paper AK Steel Holding Corp. and US Steel Corp cheaper, at least at 2,4%.

Better the market shares of the group looked like General Electric, which went up by 3,9%. GE Profit from continuing operations declined in the fourth quarter of 2009 by 19% - to $ 3 billion, or 28 cents per share. It proceeds on the results of October-December period amounted to $ 41.4 billion, up 10% less than the same period last year.

Analysts polled by Thomson Reuters, on average, expected earnings at 26 cents per share on revenue $ 40.02 billion

Index Dow Jones Industrial Average fell 21.39 points (0.21%) - to 10,368.49 points.

Standard Poor “s 500 has decreased by 3 points (0.27%), amounting to 1,113.48 points.

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Nasdaq Composite Index sank to 8.44 points (0.37%) - up to 2,257.26 points.

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