Racer
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Racer
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[BRIEFING.COM] Inflation concerns were fed this morning, catalyzing a downbeat day for equities that hindered the emergence of any leadership and sustained the indices' relatively static stance below the unchanged mark. A post-lunch plunge in Exxon Mobil (XOM 56.31 -2.55), reportedly the result of a 24 mln share block trade initiated by Goldman Sachs for unknown reasons, led to a cascade of events that shoved the market lower. While the market anticipated a sizeable jump in the latest PPI read, due largely to the fact that energy prices soared 7.1% in the month trailing Katrina, total Sept. PPI rose 1.9% (consensus +1.2%) - reflecting a 6.9% year-over-year rise that was the sharpest in 15 years - and more than tripled the Aug. read. The core rate, which is arguably a more accurate inflation indication, increased 0.3% (consensus +0.2%); core PPI in Aug. was flat. Although one month of data does not signify a trend, the gain raises some concerns that broad-based inflationary pressures are building. However, the Sept. core CPI data that was delivered last week had already indicated that inflation remains in check at the consumer level, a realization that helped temper today's PPI headlines and somewhat limited the broad-based selling that afflicted stocks. It was the fresh round of third quarter earnings reports that offered the strongest support today, but inflation concerns competed with the earnings front for the session's spotlight and took traders' attention off the fact that, thus far, roughly 65% of companies have beaten analysts' estimates.
Hurricane WILMA was upgraded to CAT 4 overnight, could be upgraded to CAT 5 during the day. Could this be the straw that breaks the camel's back and investors/speculators throw in the towel?
If you don't have the link, here it is http://www.nhc.noaa.gov/
regards GmcA
If you don't have the link, here it is http://www.nhc.noaa.gov/
regards GmcA
eatontrade
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gmca686 said:
Isnt the hurricane now expected to hit Florida rather than the Gulf refineries, hence the drop in Crude futures yesterday ?
roguetrader
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Racer
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:Honeywell 3Q Net Rises; Cuts Full-Year Rev View
MORRIS TOWNSHIP, N.J. (AP)--Honeywell International Inc. (HON), whose products range from jet engines to Prestone antifreeze, said Wednesday that its third-quarter profit jumped 26%, but slightly lowered its sales outlook for the year.
Net income rose to $470 million, or 55 cents per share, in the three months ended Sept. 30 from $372 million, or 43 cents per share, a year earlier. The latest quarter results include charges of $76 million, or 9 cents a share for non-operating charges such as litigation and an adjustment of $13 million, or 2 cents a share, for businesses sold in earlier periods.
Earnings from continuing operations were 51 cents a share, Honeywell said.
Revenue rose 8% to $6.9 billion from $6.4 billion a year earlier. Sales increased for both the company's aerospace business and its industrial heating and cooling unit, but declined at its specialty materials division and were relatively flat at its transportation unit. Aerospace sales increased 6% to $2.62 billion, including 9% growth in commercial sales and 3% growth for defense and space sales.
Honeywell said it posted about 5% revenue growth excluding acquired businesses and said results were helped by profit margin expansion.
Analysts polled by Thomson Financial were looking for profit of 53 cents a share on sales of $7.03 billion.
For the year, Honeywell now expects profit of $1.93 to $1.95 per share, or $2.11 to $2.13 after adjusting for charges related to the repatriation of foreign earnings. Previously, Honeywell had predicted a much wider range for adjusted earnings of $2.05 to $2.15 a share.
Sales will come in around $27.6 billion, Honeywell said. That's below its earlier outlook for sales of $27.8 billion to $28 billion.
Analysts foresee year-end adjusted earnings of $2.11 a share on sales of $27.82 billion.
MORRIS TOWNSHIP, N.J. (AP)--Honeywell International Inc. (HON), whose products range from jet engines to Prestone antifreeze, said Wednesday that its third-quarter profit jumped 26%, but slightly lowered its sales outlook for the year.
Net income rose to $470 million, or 55 cents per share, in the three months ended Sept. 30 from $372 million, or 43 cents per share, a year earlier. The latest quarter results include charges of $76 million, or 9 cents a share for non-operating charges such as litigation and an adjustment of $13 million, or 2 cents a share, for businesses sold in earlier periods.
Earnings from continuing operations were 51 cents a share, Honeywell said.
Revenue rose 8% to $6.9 billion from $6.4 billion a year earlier. Sales increased for both the company's aerospace business and its industrial heating and cooling unit, but declined at its specialty materials division and were relatively flat at its transportation unit. Aerospace sales increased 6% to $2.62 billion, including 9% growth in commercial sales and 3% growth for defense and space sales.
Honeywell said it posted about 5% revenue growth excluding acquired businesses and said results were helped by profit margin expansion.
Analysts polled by Thomson Financial were looking for profit of 53 cents a share on sales of $7.03 billion.
For the year, Honeywell now expects profit of $1.93 to $1.95 per share, or $2.11 to $2.13 after adjusting for charges related to the repatriation of foreign earnings. Previously, Honeywell had predicted a much wider range for adjusted earnings of $2.05 to $2.15 a share.
Sales will come in around $27.6 billion, Honeywell said. That's below its earlier outlook for sales of $27.8 billion to $28 billion.
Analysts foresee year-end adjusted earnings of $2.11 a share on sales of $27.82 billion.
rav700
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Racer said:Dow +128
S&P +17
NasC +35
FTSE 100 -96
FTSE 250 -185
DAX -101
CAC -86
HSI -224
NIK -223
Which country were all the others worried about?
Clue: Take the money and buy more
What a move by dow and that too in less than 2 hours
Hope you guys made some money cos I definately did not.....
Happy trading
Do you think todays reversal has given the market the final bull signal...?
Pat494
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I just can't imagine why insurance companies still offer insurance in hurricane/tornado alley !
Every year about this time they moan about how much it's going to cost them. Even if they are mainly European companies you would think they would learn EVENTUALLY.
Let's hope Bird Brain signs up to Kyoto before it's too late !!!
Every year about this time they moan about how much it's going to cost them. Even if they are mainly European companies you would think they would learn EVENTUALLY.
Let's hope Bird Brain signs up to Kyoto before it's too late !!!
User
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Sorry for the lack of participation...
I have been extremely busy with other commitments and have been unable to participate with this thread and I haven't had the time to trade much either.
Hope everybody is keeping well......
The current state of the market is: Down
A seller below 10450-500 and a buyer above......
By that I mean if the market closes below 10450 for this week then the market is still a sell and a close above 10500 is a Buy.....This is in relation to a weekly chart so I am not talking about daily closes I am talking about weekly closes.
A close above 10500 suggests the possibility of reaching 10650-700
While we are below 10450 then the expectation of an initial target of 10100 can be expected......
Goodluck all
I have been extremely busy with other commitments and have been unable to participate with this thread and I haven't had the time to trade much either.
Hope everybody is keeping well......
The current state of the market is: Down
A seller below 10450-500 and a buyer above......
By that I mean if the market closes below 10450 for this week then the market is still a sell and a close above 10500 is a Buy.....This is in relation to a weekly chart so I am not talking about daily closes I am talking about weekly closes.
A close above 10500 suggests the possibility of reaching 10650-700
While we are below 10450 then the expectation of an initial target of 10100 can be expected......
Goodluck all
Racer
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Pfizer profit drops 52 pct
Thursday October 20, 8:40 am ET
By Ransdell Pierson
NEW YORK (Reuters) - Pfizer Inc. on Thursday reported a 52 percent drop in third-quarter profit and withdrew its financial outlook through 2007 due to tumbling sales of its Celebrex arthritis drug and generic competition for other medicines, sending shares down almost 6 percent.
http://uk.us.biz.yahoo.com/rb/051020/pfizer_earns.html?.v=3
Thursday October 20, 8:40 am ET
By Ransdell Pierson
NEW YORK (Reuters) - Pfizer Inc. on Thursday reported a 52 percent drop in third-quarter profit and withdrew its financial outlook through 2007 due to tumbling sales of its Celebrex arthritis drug and generic competition for other medicines, sending shares down almost 6 percent.
http://uk.us.biz.yahoo.com/rb/051020/pfizer_earns.html?.v=3
Racer
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WASHINGTON (AFX) -- SBC Communications Inc (SBC.BA - news) . on Thursday said third-quarter profit fell nearly 41% compared to the year-ago quarter, when the company reaped a large onetime gain from the sale of several Yellow-Pages operations. The company posted net income of $1.25 billion, or 38 cents a share, down from $2.09 billion, or 63 cents, a year earlier. Excluding onetime items, however, earnings totaled $1.5 billion, or 47 cents a share, exceeding the 41-cent estimate of Thomson First Call. Revenue rose 0.3% to $10.32 billion, excluding the company's interest in Cingular Wireless. SBC (NYSE: SBC - news) added a record 528,000 high-speed Internet users.
For further information see www.marketwatch.com.
For further information see www.marketwatch.com.
Racer
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Coca-Cola profit rises 37%
LONDON (AFX) -- Coca-Cola Co. Thursday reported stronger-than-expected third-quarter net income and revenue.
Coke (NYSE: KO - news) 's profit rose 37% to $1.28 billion, or 54 cents a share, from $935 million, or 39 cents, in the year-earlier period.
The consensus estimate of analysts surveyed by Thomson First Call was 53 cents. Coke's revenue climbed 8% to $6.04 billion from $5.6 billion. First Call's estimate was for revenue of $5.95 billion.
The latest earnings included a net charge of 3 cents. That breaks down to a charge of 4 cents to write down Philippine assets and a benefit of 1 cent related to the favorable resolution of tax matters.
Shares of the Atlanta soft-drink producer rose a nickel on Wednesday to $41.80.
For further information see www.marketwatch.com.
LONDON (AFX) -- Coca-Cola Co. Thursday reported stronger-than-expected third-quarter net income and revenue.
Coke (NYSE: KO - news) 's profit rose 37% to $1.28 billion, or 54 cents a share, from $935 million, or 39 cents, in the year-earlier period.
The consensus estimate of analysts surveyed by Thomson First Call was 53 cents. Coke's revenue climbed 8% to $6.04 billion from $5.6 billion. First Call's estimate was for revenue of $5.95 billion.
The latest earnings included a net charge of 3 cents. That breaks down to a charge of 4 cents to write down Philippine assets and a benefit of 1 cent related to the favorable resolution of tax matters.
Shares of the Atlanta soft-drink producer rose a nickel on Wednesday to $41.80.
For further information see www.marketwatch.com.
Racer
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McDonald's net down as Europe sales up
Thursday October 20, 8:26 am ET
LOS ANGELES (Reuters) - McDonald's Corp. (NYSE:MCD - News) on Thursday reported a 6 percent drop in quarterly profit after a tax benefit boosted year-ago results, but sales and operating profit rose on stronger markets like Germany, France and Australia.
http://uk.us.biz.yahoo.com/rb/051020/leisure_mcdonalds_earns.html?.v=2
Thursday October 20, 8:26 am ET
LOS ANGELES (Reuters) - McDonald's Corp. (NYSE:MCD - News) on Thursday reported a 6 percent drop in quarterly profit after a tax benefit boosted year-ago results, but sales and operating profit rose on stronger markets like Germany, France and Australia.
http://uk.us.biz.yahoo.com/rb/051020/leisure_mcdonalds_earns.html?.v=2
Racer
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Web auctioneer eBay Inc. (NasdaqNM:EBAY - News) set the stage for a weaker market open after it reported a better-than-forecast profit but gave an outlook that failed to dazzle investors, .
EBay shares slumped 6 percent before the bell to $39.50 on the Inet electronic brokerage system.
"EBay came out with good numbers, but the outlook for the fourth quarter and next year wasn't so good," said Peter Cardillo, chief market analyst at SW Bach and Co. "We're probably looking at a lower open, with a mixed trading session, as people respond to individual earnings and keep an eye on the price of oil."
EBay shares slumped 6 percent before the bell to $39.50 on the Inet electronic brokerage system.
"EBay came out with good numbers, but the outlook for the fourth quarter and next year wasn't so good," said Peter Cardillo, chief market analyst at SW Bach and Co. "We're probably looking at a lower open, with a mixed trading session, as people respond to individual earnings and keep an eye on the price of oil."
that looks quite bullish when you put it like that. and next week could signal the next move up. we're entering the same phase as the start of last years 1000 points + rally. i dont think for a minute that will happen this time, but some upward movement is looking likely to me at the moment. may tentatively enter a long if the market gets down somewher near 10250-10300 in the next day or so.Racer said:
