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 Post subject: April 24th Friday 2009
PostPosted: Sat Apr 25, 2009 3:05 am 
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Today's trades that were posted in real-time in #FuturesTrades chat room via my IRC user name NihabaAshi. You can review each trade from entry to exit along with commentary and an occasional trading tip because its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=20&t=172

My Trading Performance: +4.75 Emini ES points

"I took it very easy today due to being a little tired and having an appointment with my tax accountant."

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Stocks End With A Gain
Wall Street surges as investors welcome quarterly results from Ford, Microsoft, AmEx. Nasdaq ends higher for 7th week in a row.
By Alexandra Twin, CNNMoney.com senior writer
Last Updated: April 24, 2009: 6:00 PM ET

NEW YORK (CNNMoney.com) -- Stocks rallied Friday after Ford, Microsoft and American Express reported results that met or topped analysts' expectations.

The Nasdaq ended higher for its 7th week in a row, while the Dow and S&P 500 ended the week slightly lower after six straight weeks of gains.

The Dow Jones industrial average (INDU) added 119 points, or 1.5% during the day. The S&P 500 (SPX) index gained 14 points, or 1.7%. The Nasdaq composite (COMP) gained 42 points, or 2.6%.

Stocks rallied on the last day of a turbulent week on Wall Street where investors showed some caution.

Bets that the worst is over for the economy and corporate America lifted stocks. The S&P 500 climbed by more than 29% over the six weeks prior to Monday, following a rout that left the index at 12-year lows.

"We have a market that after a six-week rally was vulnerable to a pullback, sold off 4% or 5% and is now looking to move higher again," said Steven Goldman, market strategist at Weeden & Co.

He said that the day's profit reports and economic news helped, but that stocks are really looking to what corporations and growth will look like six or nine months out.

Stocks briefly trimmed gains after regulators released what was billed as a detailed report on how the government is running its "stress tests" of the leading U.S. banks. However, the report offered little new information. Results from the tests won't be announced until May 4.

Also in play: News that General Motors plans to kill off its Pontiac car brand as it struggles to stay afloat.

Automakers: Ford Motor (F, Fortune 500), considered to be the healthiest of the three Detroit automakers, said Friday it lost $1.4 billion in the first quarter as it contended with the worst quarter for the industry in 26 years.

Excluding special items, Ford said it lost $1.8 billion, or 75 cents per share, versus a profit of 20 cents per share a year earlier. Analysts surveyed by Briefing.com thought it would lose $1.23 per share. Ford's revenue also plunged versus a year ago but topped estimates.

Ford CEO Alan Mulally said he believes the company can continue to function without receiving a federal bailout like rivals Chrysler and General Motors (GM, Fortune 500). Ford shares jumped 11.4% Friday.

Time is running out for Chrysler, which could enter Chapter 11 bankruptcy protection as soon as next week, according to reports, if it can't close deals with creditors and Italian automaker Fiat. Chrysler is privately owned.

Meanwhile, General Motors (GM, Fortune 500) said late Thursday that it will temporarily shut down 13 of 20 North American plants this summer to cut inventory. The company has until June 1 to cut its debt and labor costs or face Chapter 11 as well. Shares gained 4.3% Friday.

So far the automakers' woes have had a limited impact on Wall Street.

"We've been dealing with the issues with the automakers for months and we already knew Ford is stronger than the others," Goldman said.

Quarterly results: After the close Thursday, Microsoft (MSFT, Fortune 500) reported lower-than-expected quarterly sales on weaker earnings that met estimates. Shares of the Dow component gained 10.5% Friday.

Dow component American Express (AXP, Fortune 500) reported weaker quarterly earnings that topped estimates, also after the close Thursday. Shares gained 20.7% Friday morning.

Dow component 3M (MMM, Fortune 500) reported weaker quarterly sales and earnings Friday morning and cut its full-year earnings forecast for the second time. The company, which makes everything from Scotch tape to power lines, is seen as a proxy for the economy because of the broad range of its business. Shares gained 5%.

Amazon.com (AMZN, Fortune 500) reported higher quarterly sales and earnings that topped estimates late Thursday. Shares gained 4.8% Friday.

Honeywell (HON, Fortune 500) reported weaker quarterly sales that topped estimates on weaker earnings that met estimates Friday morning. The company also cut its 2009 profit outlook, due to the global economic slowdown. Shares fell 2.9%.

Schlumberger (SLB) reported weaker earnings that topped forecasts on weaker sales that missed estimates. The leading oilfield services company in the world also gave a dour forecast for the industry for the rest of this year and for 2010. Shares gained 7%.

Market breadth was positive. On the New York Stock Exchange, winners topped losers by over three to one on volume of almost 1.73 billion shares. On the Nasdaq, advancers topped decliners two to one on volume of 2.54 billion shares.

Economy: March new home sales fell from the previous month, after that month's sales figures were revised higher, the Census Bureau reported Friday morning. Sales fell to a 356,000 annual unit rate from an upwardly revised 358,000 unit annual rate in February. Economists surveyed by Briefing.com expected sales at a 337,000 unit annual rate.

March durable goods orders fell 0.8% versus forecasts for a drop of 1.5%. Orders of goods meant to last 3 years or more rose 3.4% in February.

Bonds: Treasury prices slumped, raising the yield on the benchmark 10-year note to 2.99% from 2.91% Thursday. Treasury prices and yields move in opposite directions.

Lending rates were mixed. The 3-month Libor rate fell to 1.07% from 1.09% Thursday, according to Bloomberg.com. The overnight Libor rate held stead at 0.2%. Libor is a bank-to-bank lending rate.

Other markets: In global trading, Asian markets ended mixed and European markets ended higher.

In currency trading, the dollar fell versus the euro and the yen.

U.S. light crude oil for June delivery rose $1.94 to $51.56 a barrel on the New York Mercantile Exchange.

COMEX gold for June delivery rose $7.50 to settle at $914.10 an ounce.

Yahoo! Finance

4:25 pm : Participants bid stocks markedly higher amid strong trading volume Friday, but the effort wasn't enough to give the S&P 500 its seventh straight weekly gain. Instead, stocks finished the week 0.7% lower.

Stocks sported gains since the opening bell as participants showed less risk aversion and more willingness to move into early cyclical plays amid hopes that the economic downturn may be slowing. That notion favored materials stocks, which logged the session's strongest gains by finishing 4.4% higher.

According to the latest statistics, March durable goods orders and orders excluding transportation declined 0.8% and 0.6%, respectively. Neither was as bad as expected.

Meanwhile, new home sales for March came in at a seasonally adjusted annual rate of 356,000, which was better than expected, but down 0.6% from an upwardly revised February reading.

While those headlines helped support the notion that economic conditions may not be as dreadful as some have feared, the real focus of the session was pinned to the details of the government's measures used for conducting a series of stress tests at 19 leading U.S. banks.

Though actual results from the tests won't be available until May 4, investors hoped to gain insight into the conclusions that government officials reached. The report acknowledged that most U.S. banking organizations currently have capital levels well in excess of the amounts required to be considered well capitalized. Meanwhile, Fed regulators generally assert that banks should be prepared for the worst.

Financial stocks briefly fell into negative territory following the announcement, but quickly recovered and helped lift the broader market to its session highs late in the afternoon. The advance faded into the close, though, as financials pared a 4.4% gain to close with a 2.5% gain.

American Express (AXP 25.30, +4.33) was the primary leader among financial stocks. Investors sent the stock 20% higher after the company reported better-than-expected earnings.

Meanwhile, Microsoft (MSFT 20.91, +1.99) garnered interest in large-cap tech by reporting earnings that matched expectations. That, combined with better-than-expected earnings from Amazon.com (AMZN 84.46, +3.85), helped the Nasdaq outperform its counterparts.

In other earnings news, Ford (F 5.24, +0.75) posted a loss that wasn't quite as severe as many had expected. Management continues to reassure investors it has no plans to request government funding, supporting its appearance as the strongest among its peers. To that point, privately held Chrysler is preparing to file for bankruptcy protection, according to The Wall Street Journal.

Earnings will remain in focus when investors return from the weekend. More than 20 companies have confirmed that they will announce their latest quarterly results ahead of Monday's opening bell. However, there are no economic reports of consequence currently scheduled.DJ30 +119.23 NASDAQ +42.08 NQ100 +2.2% R2K +2.6% SP400 +2.7% SP500 +14.31 NASDAQ Adv/Vol/Dec 1945/2.51 bln/762 NYSE Adv/Vol/Dec 2332/1.73 bln/703

3:35 pm : June crude oil rose throughout the session. A weak dollar and interest in equities led the crude contracts to close at $51.54 per barrel, up 3.9%.

On the other hand, May natural gas contracts fell on the session. The contracts closed down 3.5% at $3.29 per contract, these are levels not seen in natural gas since September of 2002.

Precious metals were able to extend their recent momentum to the upside.

June gold contracts closed at $914.10 per ounce, up 0.8%. The contracts traded in positive territory for almost the entire session and closed very near session highs.

July silver futures contracts traded in positive territory for the entire session. The contracts finished at $12.95 per ounce, up 1.3%. Silver futures contracts are currently trading between the 50 and 200 day simple moving averages of $13.05 and $12.42, respectively.DJ30 +154.12 NASDAQ +47.77 SP500 +18.64 NASDAQ Adv/Vol/Dec 1986/2.1 bln/702 NYSE Adv/Vol/Dec 2433/1.2 bln/607

2:55 pm : The major indices rebound to session highs in a move led by financials (+3.3%).

The financial sector briefly fell into negative territory following the bank stress test announcement, but the sector quickly recovered to hit its best levels of the session.

Separately, General Motors (GM 1.66, +0.04) plans to eliminate its Pontiac brand as part of its restructuring, CNN.com reports, citing sources familiar with the matter.DJ30 +141.21 NASDAQ +41.28 SP500 +15.90 NASDAQ Adv/Vol/Dec 1877/1.80 bln/781 NYSE Adv/Vol/Dec 2340/1.04 bln/671

2:30 pm : The stock market falls back to test its morning lows following the release of the government's measures for conducting bank stress tests. It has since rebounded to continue sporting solid gains. [ec44]

The buying effort among equities has pushed Treasuries, a traditional safe haven, out of favor. The benchmark 10-year Note is currently down 15 ticks; its declines during the last few sessions have brought its yield into close contact with the 3% mark.DJ30 +112.46 NASDAQ +31.81 SP500 +12.92 NASDAQ Adv/Vol/Dec 1809/1.67 bln/823 NYSE Adv/Vol/Dec 2248/962 mln/740

2:05 pm : According to a government statement, the methodology used in conducting the government's bank stress tests was not intended to be a worst case scenario, and large banks need to hold additional capital, according to Dow Jones.

According to Reuters, Fed officials are looking for substantial capital buffers over capital ratios. Dow Jones stated, though, that a focus on common equity does not imply a new capital standard.

In a knee-jerk reaction to the data, stocks moved lower but have since recovered.DJ30 +128.31 NASDAQ +36.03 SP500 +14.53 NASDAQ Adv/Vol/Dec 1866/1.47 bln/751 NYSE Adv/Vol/Dec 2307/829 mln/686

1:35 pm : Stocks are pulling back after recently climbing to a fresh session high. The downturn is being led by financial stocks, which were up 3.3% at their session high, but are now up 2.1%.DJ30 +123.93 NASDAQ +36.29 SP500 +14.16 NASDAQ Adv/Vol/Dec 1856/1.34 bln/748 NYSE Adv/Vol/Dec 2278/742 mln/686

1:05 pm : Stocks are trading with strong gains midsession. The upbeat tone comes as participants await the government's details regarding its methods for conducting a series of bank stress tests. The latest batch of earnings and economic data has also bolstered buying.

The government will unveil details outlining how it conducted a series of stress tests at 19 leading U.S. banks at 2:00 PM ET. Though actual results from the tests won't be unveiled until May 4, investors hope to gain insight into the conclusions that government officials reached.

Confidence in major financial institutions has diversified banks trading 5.5% higher and diversified financial services stocks up 3.3%. Strong earnings results from American Express (AXP 25.04, +4.07) are helping consumer finance companies trade 15.0% higher.

Large-cap tech is garnering strong interest, too. Microsoft (MSFT 20.60, +1.68) reported in-line earnings for its latest quarter, but is helping the Nasdaq outperform the other headline indices.

Strength in online retailer Amazon.com (AMZN 85.86, +5.25) is also supporting the Nasdaq. Amazon.com bested analysts' earnings expectations.

Better-than-expected first quarter adjusted earnings from Schlumberger (SLB 49.53, +2.91) and higher oil prices are helping energy stocks climb. Oil is up 3.5% to $51.35 per barrel, and the energy sector is up 2.6%.

Despite reporting a loss for the latest quarter, shares of Ford (F 5.24, +0.75) were upgraded by analysts at Bank of America's Merrill Lynch. However, Ford's loss wasn't quite as severe as many had expected, which has helped feed the notion that Ford is in the least critical condition of its peers. To that point, privately held Chrysler is preparing to for file for bankruptcy protection, according to The Wall Street Journal.

Among industrial stocks, Honeywell (HON 31.00, -1.38) posted in-line earnings and offered an in-line earnings forecast, while 3M (MMM 56.25) actually fell short of analysts' expectations, and the company trimmed its earnings outlook for the year. However, 3M did say it foresees the U.S. economy bottoming between the end of the second quarter and the third quarter.

The belief that the economic downturn may be stalling has bolstered early business cycle stocks, particularly in the materials sector. Materials stocks are currently up 4.7%, more than any other sector.

Hope that an economic bottom may be in process was supported by some better-than-feared economic data. Specifically, March durable orders declined 0.8%, which isn't as dramatic as the 1.5% decline that was widely expected. Excluding transportation, orders declined 0.6%, which was better than the 1.2% decline that was widely forecast. February's data were revised lower, but the data still showed an increase in orders.

Meanwhile, new home sales for March came in at a seasonally adjusted annual rate of 356,000, which topped the consensus estimate of 337,000. The March number was down 0.6% from an upwardly revised February reading. DJ30 +132.05 NASDAQ +39.63 SP500 +15.08 NASDAQ Adv/Vol/Dec 1867/1.25 bln/728 NYSE Adv/Vol/Dec 2282/688 mln/677

12:30 pm : The Nasdaq continues to outpace its counterparts. Nonetheless, gains among the headline indices remain impressive.

The upbeat tone has been present since the opening bell, and buying has been broad-based as advancing issues outnumber decliners by 3-to-1 on the S&P 500.DJ30 +126.40 NASDAQ +35.31 SP500 +13.29 NASDAQ Adv/Vol/Dec 1856/1.09 bln/699 NYSE Adv/Vol/Dec 2227/600 mln/693

12:00 pm : The stock market has ascended to fresh session highs. Stocks are now up 2.6% during the course of the past two sessions, which means stocks are now down just 0.4% week-to-date.

Since its March 6 low, the S&P 500 is up 29.9%. The S&P 500 is just 1.1% below its two-month high.DJ30 +134.20 NASDAQ +39.60 SP500 +14.42 NASDAQ Adv/Vol/Dec 1825/960 mln/698 NYSE Adv/Vol/Dec 2192/540 mln/698

11:30 am : Utilities stocks make up the only major sector in the S&P 500 to trade in negative territory; utilities are currently down 0.1%.

The sector's downturn comes amid weakness in Exelon (EXC 45.49, -0.30), which is pulling back from gains registered in the prior session. Its strength in the prior session stemmed from better-than-expected quarterly earnings results.

Weakness among utilities stocks is being partly offset by strength in shares of American Electric Power (AEP 26.46, +0.32). AEP posted before the opening bell better-than-expected earnings of $0.89 per share for the latest quarter. AEP also reaffirmed its outlook for fiscal 2009; the company expects earnings for the year to range from $2.75 to $3.05 per share, which brackets the current consensus forecast of $2.83 per share.

Based on the consensus full-year earnings forecast, shares of AEP trade at 9.3x this year's expected earnings. During the past five years shares of AEP have traded at an average price-to-earnings multiple of 13.5x.DJ30 +105.33 NASDAQ +32.15 SP500 +11.69 NASDAQ Adv/Vol/Dec 1735/826 mln/725 NYSE Adv/Vol/Dec 2159/471 mln/717

11:00 am : Microsoft (MSFT 20.34, +1.41) is providing leadership to all three major indices. However, the Nasdaq is actually outperforming its counterparts as Amazon.com (AMZN 86.42, +5.81) complements Microsoft's strength.

Microsoft's gain comes after the tech bellwether posted in-line earnings results for its first fiscal quarter. Meanwhile, Amazon.com actually topped analysts' consensus earnings estimate.DJ30 +98.68 NASDAQ +26.61 SP500 +10.34 NASDAQ Adv/Vol/Dec 1720/656 mln/680 NYSE Adv/Vol/Dec 2138/385 mln/695

10:30 am : Stocks have pulled back in the last half-hour, but continue to trade with healthy gains. Commodities are also trading with strength as the CRB Commodity Index climbs 1.0%, which marks the CRB's best single-session percentage gain in two weeks.

Higher crude oil prices are helping drive the CRB's advance. Crude oil futures contracts are currently pricing oil 3.1% higher at $51.15 per barrel.

Natural gas prices are down fractionaly, though. Natural gas contracts were recently quoted at $3.38 each.

Gold and silver contracts are being bid slightly higher. Gold prices are currently up 0.4% to $909.90 per ounce, while silver prices are up 0.4% to $12.84 per ounce.

Despite the rather modest advance in precious metals prices, silver and gold stocks are seeing strong gains, led by Newmont Mining (NEM 39.85, +1.12).

The Baltic Dry Index ended its recent winning streak by falling 1.3%. Of the subindices, the Panamax Index led the decline by falling 4.6%. Meanwhile, the Capesize Index shed 1.8%. The Supramax Index managed to advance 2.8%.DJ30 +74.71 NASDAQ +19.72 SP500 +7.35 NASDAQ Adv/Vol/Dec 1610/518 mln/178 NYSE Adv/Vol/Dec 2015/312 mln/765

10:00 am : Stocks have spiked following some better-than-expected new home sales data. New homes for March reached an annualized rate of 356,000, which is more than the annualized rate of 337,000 that was widely forecast. The pace of sales was down a modest 0.6% from the prior month.

Meanwhile, inventory fell to a 10.7 month supply from an 11.2 month supply, according to CNBC.

Early movers: Trading up: SUMT +23%, MHK +20.5%, NTY +20.2%, WL +18.8%, ALGN +18%, OFG +17.6%, DDR +16.6%, F +15.8%, INFA +15.2%, CAKE +15%, RVBD +13.5%, SNS +13.4%, PNK +12.6%, STAR +12.5%, AXP +11.6%, JNPR +11.2%. Trading down: BLUD -32.0%, SAIA -16.8%, IBKR -16%, LNET -11.4%, CYBS -11.1%, CPN -11.1%, COLM -10.9%DJ30 +108.72 NASDAQ +22.37 SP500 +11.57 NASDAQ Adv/Vol/Dec 1650/330 mln/553 NYSE Adv/Vol/Dec 2151/205 mln/537

09:45 am : Stocks are sporting broad-based gains in the first few minutes of trading. Energy stocks and materials stocks are leading the charge; they are up 1.9% and 1.8%, respectively.

Energy's jump comes has been assisted by strength in shares of oil and of gas equipment companies (+4.5%) like Schlumberger (SLB 49.65, +3.04). Schlumberger posted better-than-expected first quarter adjusted earnings of $0.78 per share. The company's management did indicate during its conference call, though, that repeating its first quarter performance will be extremely difficult due to the deteriorating business environment and the effects of customer pricing pressure.

Materials are receiving support from gold and silver stocks Newmont Mining (NEM 39.78, +1.05) and Freeport McMoRan (FCX 40.39, +1.23).DJ30 +52.88 NASDAQ +10.43 SP500 +6.44 NASDAQ Adv/Vol/Dec 1346/200 mln/737 NYSE Adv/Vol/Dec 1802/134 mln/793

09:15 am : S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +7.80. Participants are looking to extend the prior session's late rally into this morning's trade. As such, stock futures currently sport a solid lead over fair value. Still, the stock market has a ways to go if it hopes to register its seventh straight weekly gain; stocks are currently down little more than 2% week-to-date. Nonetheless, this morning's upbeat tone comes ahead of the government's announcement regarding its methodology for conducting a series of stress tests on the leading U.S. banks. Actual results from the tests won't be unveiled until May 4, though. Still, shares of diversified banks are garnering support ahead of the opening bell. There haven't been many surprises in earnings news. Microsoft (MSFT) met expectations, but had a cautious business outlook. American Express (AXP) beat the consensus earnings estimate, but the company is increasing its consolidated provisions to protect against deteriorating credit. Ford (F) posted an ugly loss, but it still wasn't as bad as many had expected. 3M (MMM) fell short of the consensus earnings estimate, and lowered its guidance. In economic news, durable goods orders for March fell, but by a lesser degree than economists expected. March new home sales data is due at 10:00 AM ET.

09:00 am : S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +8.00. The major indices across Europe are showing considerable strength. Britain's FTSE is currently up 2.2%, despite news that the British economy contracted 1.9% in the first quarter, which is the sharpest drop since the 2.4% decline that was posted in 1979. The decline was also worse than the 1.4% drop that was widely expected, according to reports. Still, shares are trading with broad-based gains. BP PLC (BP) and Royal Dutch Shell (RDS.A) are primary leaders for the second straight session. In Germany, the Dax is up 2.1%, thanks to leadership from engineering giant Siemens (SI) and automaker Daimler (DAI). Advancing issues outnumber decliners by 6-to-1 on the DAX. Meanwhile, advancing issues outnumber decliners by 4-to-1 on France's CAC, which is up 2.0%. Total (TOT) is providing the most leadership to the CAC, but financial services outfit BNP Paribas is also giving the index a lift after having its shares upgraded by analysts at Credit Suisse. In Asia, the MSCI Asia-Pacific Index finished flat for the week's final trading session, while Japan's Nikkei closed 1.6% lower. JFE Holdings lost ground after posting a steep slide in quarterly profits and failing to provide a forecast. Shares of automakers Honda Motor (HMC), Nissan (NSANY), and Toyota Motor (TM) all dropped amid news that U.S. automaker Chrysler was readying a bankruptcy plan. Mizuho Financial (MFG) and other major bank stocks gained, despite Mizuho's warning that it would fall to an annual net loss of $5.9 billion. After the close, Nomura (NMR), Japan's biggest brokerage, posted a fifth straight quarterly net loss. In Hong Kong, the Hang Seng closed 0.3% higher as Huiyuan Juice spiked on hopes of a deal with Coca-Cola (KO). Shenzhen Development Bank outperformed after posting a rise in first quarter net profit.

08:35 am : S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +8.00. Stock futures have shown little reaction to the latest batch of economic data. Durable goods orders for March fell 0.8%, which is not as severe as the 1.5% decline that was widely forecast. Still, the decline marks a reversal from the prior month's increase of 2.1%, which was downwardly revised. Excluding transportation, durable goods orders slipped 0.6%, which is not as bad as the 1.2% decrease that economists had expected. The prior reading was revised lower so that it reflects an increase of 2.0%. New home sales data for March is due at 10:00 AM ET.

08:05 am : S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +8.30. Participants await details regarding how the Federal Reserve conducted a series of bank stress tests. The details are expected this afternoon, but actual results of the tests won't be revealed until May 4. Still, shares of several diversified banks are extending their strength from the prior session into premarket trading. In earnings news, Honeywell (HON) posted first quarter earnings of $0.54 per share, which is in-line with the consensus estimate. Honeywell expects earnings for 2009 to range from $2.85 to $3.20 per share, which brackets the consensus of $3.03 per share. Ford (F) reported a loss of $0.75 per share for the first quarter. A loss of $1.23 per share was expected. 3M (MMM) generated first quarter earnings of $0.81 per share, which is $0.05 short of the consensus of $0.86 per share. 3M expects full-year earnings to range from $3.90 to $4.30 per share, which brackets the $4.01 per share that analysts are currently forecasting. However, the company's forecast is down from its previous guidance, which ranged from $4.30 to $4.70 per share. Microsoft (MSFT) posted third quarter adjusted earnings of $0.39 per share, which matched the consensus estimate. Amazon.com (AMZN) reported first quarter earnings of $0.41 per share, besting the expected $0.31 per share. American Express (AXP) generated first quarter earnings of $0.32 per share, which is $0.20 better than the consensus estimate of $0.12 per share. The company's consolidated provisions totaled $1.8 billion, up from $1.2 billion in the year-ago period. Stock futures currently suggest a positive start for the session.

06:54 am : S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +1.80.

06:54 am : Nikkei...8707.99...-139.00...-1.60%. Hang Seng...15258.85...+44.40...+0.30%.

06:54 am : FTSE...4609.97...+71.80...+1.60%. DAX...4608.94...+70.70...+1.60%.

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