Tuesday, April 23, 2013

U.S. Stocks Fall Europe concerns among Oracle falls

U.S. stocks fell, after the

Standard & Poor's 500 Index is near a record high yesterday,

as concerns about the European debt crisis overshadowed better-than-

expected U.S. economic data. Oracle Corp. (ORCL) dropped 9.7 percent after sales and profit

missed estimates. Cisco Systems Inc. and Juniper Networks Inc..

slid at least 2.2 percent on analyst downgrade. Guess?

Inc.. Fell 7.2 percent after earnings projection following

projection. Yahoo! Inc.. (YHOO) added 3.5 percent as Oppenheimer & Co..

upgrade the stock. The S & P 500 fell 0.8 percent to 1,545.8 at 4 pm in New

York, heading for a second weekly decline this year. It

The Dow Jones Industrial Average lost 90.24 points, or 0.6 percent,

to 14,421.49. Approximately 5.9 billion traded hands in the U.S. sharing

market, 6.7 percent below the average of the three months. "There has been on-again, off-again news, poor

outside of Europe and sometimes cause market

some disturbance, "the Bruce Bittles, chief investment strategist at

Milwaukee-based RW Baird & Co., Which oversees $ 85 billion, said

in a telephone interview. "The U.S. economy can do little

good, but is probably a slow growth mode for most

in 2013. How's this for the past four years and

market has done pretty well environment. "Equities slid today as the purchasing managers 'index' for

Germany's manufacturing industry unexpectedly fell this month

While the size of the euro-area services and manufacturing output

contracted more than forecast. Funding Cyprus said European Central Bank will cut off Cyprus Bank

of emergency funds after March 25 as island nation

President, Nicos Anastasiades, struggling to forge a consensus on

Plan to prevent financial collapse. "We did not feel anything was done in Europe in terms of

the debt situation there, "Eric Thorne, who helps manage

approximately $ 6 billion in Bryn Mawr Trust Co. in Bryn Mawr,

Pennsylvania, said in a telephone interview. "Europe and

surrounding the economic-can also cause

that the market decided to stop here for a while "in the United States., the sales of previous owned homes rose in

February to the highest level in more than three years.

Purchases increased 0.8 percent to a 4.98 million annual

rate, the most since November 2009, data from the National

Association of Realtors showed today in Washington. Other data showed applications for unemployment benefits, life

increased by 2,000 to 336,000 in the week ending March 16 while

Conference Board gauge the outlook for the next three

to six months rose 0.5 percent for the second month in a row. Record High S & P (SPX) 500 rose yesterday to within seven points of

reached a record in 2007, while the Dow reached an all-time Intraday

high as the Federal Reserve indicated it would keep the bond

purchases to stimulate the economy. U.S. equity bull market enters its fifth year

This month, the central bank began three round of bond

purchases to keep interest rates low and corporate profits beat

analyst forecasts. Nine of the 10 S & P 500 fell today as raw-

materials and technology companies dropped, submerged in

at least 1.3 percent. The Chicago Board Options Exchange Volatility

Index (VIX), which measures the cost of using options as insurance

the decline in the S & P 500, rose 10 percent to 13.99.

Gauge, known as the VIX, fell 22 percent this year and

reached its lowest level since February 2007 in the past week. Oracle led the decline in technology stocks, fell 9.7

percent to $ 32.30. The largest supplier of database software

reported sales and profit that missed analysts' estimates as

Chief Executive Officer Larry Ellison has been hindered by

Internet customers will switch to cloud-based system, limiting

Their dependence on the Oracle server, database and related

programs. Downgrade Cisco Cisco fell 3.8 percent to $ 20.84, while Juniper Networks

lost 2.2 percent to $ 18.89. The network equipment maker

cut underperform, the equivalent of sell, from market

FBR Capital Markets perform the. Increased competition means

is "significant" reduction in the number of slow but

router and switches deployed in the network, the analyst Scott

Thompson said in a note. Jabil Circuit Inc.. (JBL) retreated 4.5 percent to $ 18.60. It

Contract electronics manufacturers including earnings estimates

some items of 58 cents per share for the third fiscal majority

quarter. Which left (JBL) average analyst estimate of 61 cents

in a Bloomberg survey. Airgas Inc. fell 5.2 percent to $ 97.96. The largest U.S.

packaged gas distributor said it is unlikely to meet fiscal

does not increase fourth-quarter earnings guidance after sales

Until February. Prediction fell 7.2 percent to $ 25.01. Designer Maker

Jeans estimated annual revenues of $ 2,6 billion to $ 2.64 billion,

lower than analysts' estimates of $ 2.74 billion. Increase Yahoo Yahoo, the largest U.S. Web portal, rose 3.5 percent in

22.86 USD. Sharing is overwhelmed upgrade, which means that

Investors should buy the share from market perform

Oppenheimer, quoted by Yahoo Japan's stock and

possible initial public offering of Alibaba.com Ltd. afterlife

12 months. KB Home, the best-performing U.S. homebuilder sharing

year, rallied 2.5 percent to $ 22.10, the highest level since

September 2008. The company reported Los Angeles-based

narrower fiscal first quarter loss of sales and prices

up in the middle of a national housing rebound. The S & P 500 near its record of nearly 5 1/2 years

After peaking at two years after sharing in the proposed

recover from the worst bear market since the 1930s. Rally extent Index has risen 130 percent since March 2009, adding

10000000000000 $ in the value of American equities erased losses as

the credit crisis. The majority of the company beyond

their previous highs in the month of April 2011, according to data gathered

Bloomberg. The S & P 500 Equal Weighted Index, which measures

each company in the index together not by their market

value, an increase of 192 percent from the bottom. Unlike the bull market of the past, where a single industry

dominate, all groups improved on this rally as U.S.

economy recovers. The extent of the rebound can be seen in

S & P 500 weighting, where no industrial 10 gauge

representing over 18 percent of the index. In 2000,

technology company is composed of 35 percent of the measuring instrument, and the

2006, financial stocks account for 22 percent. "The extent of the rally a little unusual," Stephen Wood, who helps manage $ 152 billion as the New York-based

primary market strategy for North America at Russell

Investments, said by telephone. "Speaks the truth

Four years ago the market price at the end of the world,

end of the world but it will not close. So we've seen it

significant but protracted recovery in equities across the board

. - Small, medium, large, defense, dynamic, value, growth, "To contact the reporter on this story:

Lu Wang in New York at lwang8@bloomberg.net;

Sarah Pringle in New York

springle1@bloomberg.net To contact the editor responsible for this story:

Lynn Thomasson in

lthomasson@bloomberg.net

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