The market review for October, 22st

market nyse Stock trades in the U.S. on October 21 closed reduction of the leading indexes. Throughout the trading session continued positive trend, but closer to the end of the trading, market participants reacted negatively to the decline analysts Bove of Rochdale Securities recommendations on the shares of the largest U.S. mortgage bank Wells Fargo to «sell.» Against this backdrop, shares of Wells Fargo on the basis of trades fell 5.1%, reducing the quotations of the financial sector. In particular, 3% and 2.9% respectively on the basis of trades cheaper bank shares JPMorgan Chase & Co. and Bank of America Corp., and securities Goldman Sachs Group Inc. fell 3.1%. At the same time against the backdrop of favorable financial report on 4,8% in the auction the bank’s shares have risen in price Morgan Stanley. According to the report, net profit Morgan Stanley in the III quarter of fiscal year 2009 totaled 498 million dollars compared with 1.26 billion dollars net loss obtained for the same period a year earlier. Consolidated net revenues for quarter reached 8.68 billion dollars and 60% surpassed that of 2008. Recorded at around 5.4 billion dollars

At 2,1% in the trading cheaper and shares the world’s largest retailer Wal-Mart Stores Inc., After the company’s management stated that it expects «difficult» the Christmas sales.

Not met the expectations of financial results aviagiganta Boeing. According to the results of III quarter the company received net loss of $ 1.56 billion against earnings of $ 695 million for the same period a year earlier. The company’s revenues increased by 9% — to 16.69 billion U.S. This significant decrease in profit in the Boeing attributed to several factors, including the effects of last year’s strikes, the reassessment to the next higher cost of development and testing of the new flagship of the company aircraft — Boeing 787, as well as overall depressing situation in the market. Against this background, quotes the company’s trading results were down 2,4%.

Do not remain without attention and report the holding company of Altria Group, which owns the largest tobacco company Philip Morris. Altria’s net profit up to III quarter of 2009. increased by 1,7% — to 882 million, while revenue increased by 20,3% and amounted to 6.3 billion dollars despite the big-than-expected profit, sales figures disappoint the market, expecting more from the company. Trading session closed for Altria lower quotations on 2,4%.

More optimistically concluded bidding for the company Yahoo!, Owns the eponymous search engine portal. According to the results of III quarter 2009. net profit increased more than threefold and reached 188 million dollars against 54 million dollars for the same period a year earlier. Earnings per share amounted to 0.13 dollars, which was twice as high as analysts’ forecasts (0.07 dollars / share). As explained by the company, she managed to spend less than planned for the introduction of new initiatives, care of a number of advertisers had a less dramatic effect than expected, and sales of China’s Alibaba.com also contributed to increased profits. Following the bidding company’s shares went up by 2,9%.

In the pharmaceutical sector the focus of the market was the company Eli Lilly, which also released its financial report before the start of the trading session. According to the results of III quarter 2009. Eli Lilly’s net profit more than doubled and amounted to 942 million dollars Thus the company’s revenue for the reporting quarter increased by 7% and amounted to 5.56 billion dollars despite a quite successful performance, stock quotes, company bidding went up to minus 4 , 5%.

Dow Jones index fell by 92.12 points (-0.92%) — up to 9,949.36 points

NASDAQ — to 12,74 points (-0.59%) — up to 2,150.73 points,

S&P — at 9.66 points (-0.89%) — up to 1,081.40 points.

Industry :
Industry : 2009-10-22

Sector :
Sector : 2009-10-22

Key earnings/guidance since yesterday’s close:
-AT&T (T) beat by $0.04 in the third quarter on in line revenue of $30.9 bln. The company reiterated it expects consolidated revenue for 2009 to be slightly below 2008 results, which is in line with expectations of $123.1 bln, just below 2008’s $124.0 bln. Shares of T are up 3% premarket.
-McDonald’s (MCD) beat by $0.04 in the third quarter on in line revenue of $6.1 bln. Global comparable sales increased 3.8%, with the U.S. up 2.5%, Europe up 5.8% and Asia/Pacific, Middle East and Africa up 2.2%. The company said for October, despite a declining informal eating out market around the world, it expects consolidated comparable sales to remain positive. Shares of MCD are up modestly premarket.

Technical Perspective:
Mentioned yesterday the weakening momentum and the extended technical posture/negative divergence, with the higher volume decline and outside day reversal candlestick off the new 52-week peak raising the odds for further near term corrective trade. Support below the low (1081) and the September peak (1080) is at 1075 (last week’s gap bottom) and the 1071/1070 zone. Resistance on a bounce is at 1086/1087 and the 1090/1091 area.

Key economic data:
-Initial Jobless Claims for the week ended Oct. 17 (consensus 515K; prior 514K) and Continuing Claims for the week ended Oct. 10 (consensus 5.970 mln; prior 5.992 mln) at 8:30ET
-September Leading Indicators at 10:00ET (consensus 0.8%; prior 0.6%)
-August House Price Index m/m at 10:00ET (consensus 0.3%; prior 0.3%)

Federal Reserve/Treasury calendar:
-Boston President Rosengren speaks as part of a panel on financial stability at 10:30ET
-Atlanta President Lockhart speaks on education at 12:00ET
-New York President Dudley speaks as part of a panel on monetary policy at 13:30ET
-Chicago President Evans speaks as part of a panel on U.S. macroeconomic policy at 16:00ET

Key Note/Bond auction results:

-61 companies are confirmed to report today after the close, including Amazon.com (AMZN), American Express (AXP) and Capital One (COF)

Key industry conferences:

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