| CATEGORY: MARKET REPORT - US SECTOR: FOSSIL FUELS AND DISTRIBUTION |
US midday: Dow in decline |
|
Wed 02 Dec 2009
|
LONDON (SHARECAST) - US shares initially recovered after opening lower but the Dow Jones has fallen back again. Oil company shares declined as the oil price fell and banks were worried that changes in derivative rules could hurt earnings.
The Dow Jones is down 42 points to 10,430, with Chevron Corp and Exxon Mobil among the main fallers. The biggest decline was in the share price of Bank of America with JPMorgan Chase not far behind.
In contrast, the S&P 500 and Nasdaq Composite are both hanging on to small gains. The S&P is a fraction ahead at 1,109, while Nasdaq is nearly five points higher at 2,181.
ADP says private-sector firms cut 169,000 jobs in November compared with 195,000 in the previous month. The decline was the smallest since July of last year but was higher than the 150,000 job losses economists had been expecting. The figures are regarded as a broadly reliable indicator to the official non-farm payrolls data due out later this week.
General Motors' president and chief executive Fritz Henderson has lost his job just eight months after he took over the role from Rick Wagoner.
Henderson, top man since March, will have his boots filled by chairman Ed Whitacre, appointed by the Obama Administration in June, until a permanent replacement is found.
McDonald's president and chief operating officer Ralph Alvarez, thought to be a potential replacement for chief executive Jim Skinner, announced that he will retire on 31 December because of health problems. This was a surprise move.
Google has announced that it will allow news organisations to limit the number of articles users can read for free through its search engine.
The group is changing its First Click Free programme so that readers will not be able to look at more than five pages in one day without registering or subscribing to the news site.
Fears of a price war with the world’s biggest retailer, Walmart, has sapped demand for video games retailer Gamestop. Walmart is thought to be offering discounts on top selling video games.
Elsewhere in the retail sector, drug store chain Walgreen is lower after releasing November sales figures. Like-for-like sales rose 3.9% from a year earlier, disappointing some analysts.
Wine maker Constellation Brands has fallen to earth with a bump after Goldman Sachs downgraded the stock to ‘sell’ from ‘neutral’.
S&P 500 - Risers
Alcoa Inc. (AA) $13.38 +4.53%
Ciena Corp. (CIEN) $12.83 +4.48%
Micron Technology (MU) $8.11 +4.38%
Cb Richard Ellis Group (CBG) $12.04 +3.88%
Amphenol Corp. (APH) $43.87 +3.81%
CF Industries Holdings Inc. (CF) $89.09 +3.71%
Bemis Co Inc. (BMS) $30.67 +3.61%
Sandisk Corp. (SNDK) $21.54 +3.27%
Teradyne Inc. (TER) $9.49 +3.26%
Marshall & Ilsley (MI) $5.90 +3.15%
S&P 500 - Fallers
Gamestop Corp. (GME) $21.66 -9.14%
Constellation Brd A (STZ) $16.17 -6.26%
Cummins Inc. (CMI) $44.27 -6.13%
D R Horton Inc. (DHI) $9.96 -4.41%
Walgreen Co (WAG) $37.88 -3.78%
Tenet Hlthcre Corp. (THC) $4.62 -3.14%
Chesapeake Energy Corp. (CHK) $23.41 -2.86%
GANNETT CO INC (GCI) $9.74 -2.70%
Morgan Stanley (MS) $30.75 -2.44%
Paccar Inc. (PCAR) $37.27 -2.08%
Dow Jones I.A - Risers
Alcoa Inc. (AA) $13.38 +4.53%
Verizon Communications Inc. (VZ) $32.70 +1.11%
Kraft Foods Inc. (KFT) $26.77 +1.02%
Home Depot Inc. (HD) $28.27 +0.96%
AT&T Inc. (T) $27.41 +0.84%
Du Pont E I De Nemours and Co. (DD) $35.35 +0.71%
Johnson & Johnson (JNJ) $63.90 +0.61%
Procter & Gamble Co. (PG) $63.22 +0.49%
Travelers Company Inc. (TRV) $52.74 +0.27%
United Technologies Corp. (UTX) $68.11 +0.16%
Dow Jones I.A - Fallers
Bank Of America Corp. (BAC) $15.63 -1.70%
Pfizer Inc. (PFE) $18.60 -1.33%
Caterpillar Inc. (CAT) $58.89 -1.32%
JP Morgan Chase & Co. (JPM) $41.67 -1.30%
General Electric Co. (GE) $16.02 -0.92%
American Express Inc. (AXP) $40.92 -0.91%
Hewlett-Packard Co. (HPQ) $49.22 -0.75%
Chevron Corp. (CVX) $78.48 -0.73%
Merck & Co. Inc. (MRK) $36.67 -0.57%
Exxon Mobil Corp. (XOM) $75.66 -0.50%
Nasdaq 100 - Risers
Seagate Technology (STX) $16.36 +3.94%
Lam Research Corp. (LRCX) $36.02 +3.06%
Fastenal Company (FAST) $38.22 +2.74%
Steel Dynamics Inc. (STLD) $17.90 +2.64%
Warner Chilcott Plc (WCRX) $26.18 +2.59%
Kla-Tencor Corp. (KLAC) $32.50 +2.49%
Amazon.Com Inc. (AMZN) $141.90 +2.45%
Garmin Ltd. (GRMN) $30.33 +2.40%
Nvidia Corp. (NVDA) $13.63 +2.29%
Sears Holdings Corp. (SHLD) $74.47 +2.08%
Nasdaq 100 - Fallers
Joy Global Inc. (JOYG) $53.62 -2.83%
Ryanair Holdings Plc Adr (RYAAY) $25.23 -2.70%
Activision Blizzard Inc. (ATVI) $11.35 -2.66%
Paccar Inc. (PCAR) $37.27 -2.08%
Hologic Inc. (HOLX) $14.33 -1.85%
Autodesk Inc. (ADSK) $23.56 -1.66%
Staples Inc. (SPLS) $24.05 -1.60%
Illumina Inc. (ILMN) $29.29 -1.48%
Verisign Inc. (VRSN) $22.32 -1.15%
Urban Outfitters Inc. (URBN) $32.48 -1.13%
|
|
| |
|
 |
Archived Stories |
 |
|
Front Page Stories |
|
|
