Dow Jones 13,549 -8
Nasdaq 3,073 -31
S&P 500 1,457 -4
LONDON (SHARECAST) - US markets ended Thursday's session firmly in the red after tech stocks took a hit following Google's surprise results, which came in below expectations.
The search engine giant filed its latest quarterly numbers with the SEC early by mistake - they had not been expected until after the close of Thursday’s trading.
The company, which is led by Larry Page, tumbled 9% - before trading in its shares was temporarily halted - after third-quarter adjusted earnings came in at $9.03 a share, below analysts' estimates for $10.65.
Patrick O’Hare, Chief Market Analyst at Briefing.com, was quoted as saying: “As we saw in Google’s report, there are lots of high expectations in some of these widely held names, and when they don’t deliver, they can get hit pretty hard."
In a more positive vein, the Federal Reserve Bank of Philadelphia posted a rise in regional manufacturing, up for the first time since April. Its business outlook survey climbed to 5.7 compared to a negative reading of 1.9 the previous month.
Morgan Stanley beats forecasts Banking titan Morgan Stanley topped market expectations with its third quarter figures, which revealed a post-tax loss of just over a billion dollars, versus a profit of 2.2bn dollars in the corresponding period of last year. Adjusted earnings per share were 28 cents a share, ahead of the Street's consensus forecast of 25 cents.
Verizon was another big gainer. The telecommunications service provider reported a 16% jump in third quarter earnings, along with a 70% increase in the number of new wireless connections, thanks in large measure to the latest iPhone.
Supervalu was also moving higher after the grocery store chain said it has received interest from several parties amid a strategic review.
Shares in IBM dropped after the company posted a worse-than-expected third quarter report, with earnings coming in below expectations.
American Express also disappointed as missing revenue forecasts.
Unemployment claims burst higher on seasonal factorsInitial unemployment claims rose by 46,000 to 388,000 last week (consensus: 365,000), as last week’s seasonal factor induced drop was unwound.
The Conference Board’s index of leading economic indicators increased by 0.6% month-on-month in September (consensus: 0.2%).
The Federal Reserve Bank of Philadelphia’s manufacturing sector survey for October rose to the 5.7 point mark (consensus: 1.0).
Treasuries rise slightly after unemployment numbersFront month West Texas crude futures were falling by 0.02% to the $92.10 per barrel on the NYMEX.
10-year US Treasuries fell by 3/32 dollars, with yields at 1.83%.
S&P 500 - Risers
Lam Research Corp. (LRCX) $36.01 +7.25%
Dean Foods Co. (DF) $17.96 +5.90%
eBay Inc. (EBAY) $50.85 +5.50%
Juniper Networks Inc. (JNPR) $18.20 +5.14%
Noble Corp (NE) $39.48 +4.75%
Keycorp (KEY) $8.78 +4.40%
Cablevision Systems Corp. (CVC) $18.51 +4.28%
Snap On Inc. (SNA) $76.98 +3.68%
Travelers Company Inc. (TRV) $73.89 +3.52%
Dover Corp. (DOV) $57.95 +3.46%
S&P 500 - Fallers
Iron Mountain Inc. (IRM) $33.79 -10.35%
Google Inc. (GOOG) $695.42 -7.95%
BB&T Corp. (BBT) $29.99 -7.07%
Huntington Bancshares Inc. (HBAN) $6.61 -6.24%
Advanced Micro Devices Inc. (AMD) $2.61 -5.78%
Danaher Corp. (DHR) $53.44 -4.74%
Philip Morris International Inc. (PM) $88.00 -4.19%
Boston Scientific Corp. (BSX) $5.39 -4.09%
Morgan Stanley (MS) $17.80 -3.73%
Agilent Technologies Inc. (A) $36.65 -3.70%
Dow Jones I.A - Risers
Travelers Company Inc. (TRV) $73.89 +3.52%
Verizon Communications Inc. (VZ) $45.77 +2.35%
Johnson & Johnson (JNJ) $72.52 +2.14%
Merck & Co. Inc. (MRK) $47.98 +1.24%
E.I. du Pont de Nemours and Co. (DD) $50.42 +1.14%
United Technologies Corp. (UTX) $79.23 +0.88%
AT&T Inc. (T) $36.03 +0.87%
Boeing Co. (BA) $74.26 +0.86%
Pfizer Inc. (PFE) $26.05 +0.81%
Home Depot Inc. (HD) $61.81 +0.68%
Dow Jones I.A - Fallers
American Express Co. (AXP) $57.66 -2.88%
International Business Machines Corp. (IBM) $194.95 -2.83%
McDonald's Corp. (MCD) $92.88 -0.85%
JP Morgan Chase & Co. (JPM) $43.02 -0.69%
Cisco Systems Inc. (CSCO) $18.58 -0.67%
Wal-Mart Stores Inc. (WMT) $76.56 -0.62%
Intel Corp. (INTC) $21.66 -0.60%
Chevron Corp. (CVX) $114.61 -0.49%
General Electric Co. (GE) $22.83 -0.35%
Microsoft Corp. (MSFT) $29.50 -0.32%
Nasdaq 100 - Risers
Lam Research Corp. (LRCX) $36.01 +7.25%
eBay Inc. (EBAY) $50.85 +5.50%
Green Mountain Coffee Roasters Inc. (GMCR) $24.83 +4.95%
Sirius Satellite Radio Inc. (SIRI) $2.94 +3.88%
KLA-Tencor Corp. (KLAC) $46.58 +1.86%
Ross Stores Inc. (ROST) $62.62 +1.31%
NetApp Inc. (NTAP) $30.28 +1.27%
Texas Instruments Inc (TXN) $28.78 +1.09%
Mattel Inc. (MAT) $37.78 +1.02%
Virgin Media Inc. (VMED) $32.82 +0.95%
Nasdaq 100 - Fallers
Google Inc. (GOOG) $695.42 -7.95%
Randgold Resources Ltd. Ads (GOLD) $119.91 -4.06%
Nuance Communications Inc. (NUAN) $22.53 -3.96%
Sandisk Corp. (SNDK) $42.76 -3.57%
Life Technologies Corp. (LIFE) $48.84 -3.27%
Priceline.Com Inc. (PCLN) $582.29 -2.67%
Biogen Idec Inc. (BIIB) $149.73 -2.63%
Vertex Pharmaceuticals Inc. (VRTX) $52.56 -2.58%
Flextronics International Ltd. (FLEX) $6.12 -2.55%
Microchip Technology Inc. (MCHP) $31.71 -2.49%
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