Mar 20
Wall Street ended the week in negative territory
After eight consecutive sessions of gains, U.S. investors have decided to take a breath. The week ends so in the red on Wall Street on profit taking. The Dow Jones a coward for closing 0.35% at 10,741.98 points. The Nasdaq lost 0.71% to 2374.41 points and the S & P 500 drops 0.51% to 1159.90 points.
The week was marked by the rise of the Dow Jones on Thursday at its highest for a year and a half (0.42% to 10,733.37 points). For the week, the flagship index of New York has gained 1.01%. Since the beginning of the year, it earned 3.01%.
"After a series of fairly impressive gains, we approach the weekend with many uncertainties: what will happen with the reform of American health care system, what will happen with Greece," observed Craig Peckham, the brokerage firm Jefferies. "It gives a reason to take profits," he added.According to analysts, the lack of activity of the market could continue next week due to lack of key indicators.
Raw materials have saddled the atmosphere
Place New York was also taken by surprise by a rate hike the central bank in India, one of the engines of world economic growth. The decision raised fears of slowing growth in the country, weighing on the sectors most sensitive to economic conditions (industry and technology), on commodity prices, and therefore the energy and mining sectors. The aluminum producer Alcoa (-0.28% to 14.26 dollars) or the oil company ExxonMobil (-0.52% to 57.04%) have evolved into the red during the entire session.
The dollar has also strengthened. Under pressure for several weeks, the euro has been penalized by the Greek uncertainties. The euro has lost 0.55% to 1.3535.
Palm collapses
The action of the mobile phone manufacturer Palm fell heavily on Friday. It tumbles down 28.50% to 4.04 dollars. Investors punish new quarterly losses and forecast a very pessimistic bad credit personal loan lenders . Over the period from December to January, the manufacturer of Pre lost 22 million dollars, twice the previous quarter and more than expected by analysts. The revenue (almost $ 350 million) is better than expected, but because of poor consumer sales of its devices by the operators, it is expected to "less than" 150 million dollars, twice less previously anticipated.
The largest bookseller in the United States, Barnes & Noble (+0.26% to 22.96 dollars) has announced that it would change the CEO.This is the current president of the group's website, William Lynch, who will replace Steve Riggio at the head of the company. The future leader has helped launch the electronic bookstore Barnes & Noble and he oversaw the launch of an electronic book reader called the Nook, a product designed to compete with the readers of e-books competitors, such as the Kindle or the 'iPad.
FedEx (-1.75% to 91.05 dollars) posted net earnings of $ 239 million, up 146% in the third quarter. Based on the number of shares, the result stood at 76 cents. The logistics group has exceeded its own targets, which ranged from 50 to 70 cents, and estimates of analysts, who on average expected a figure of 72 cents. The operating profit jumped 129% to 416 million dollars for an operating margin of 4.8% against 2.2% a year ago.
Aetna argues the document.The life insurer believes that its earnings per share in the first quarter will exceed the consensus Wall Street (66 cents) to 2.55 dollars, or $ 2.65. The action ended up 3.58% to 34.43 dollars.
The U.S. aircraft manufacturer Boeing has announced that it would expedite the production of its 777 aircraft and 747 to meet the growing demand from customers. Sign that the aerospace market is recovering. The securities are 0.30% to end at 71.08 dollars, after opening up over 2%.
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