The DJIA can rise up to the maximum by the end of trading thanks to Halliburton, and despite the Bank of America

Dow Jones Industrial Average rising, but the Bank of America sets a bad background

In brief: Halliburton has given hope but the Bank of America stopped the rise of Dow Jones Industrial Average.

Dow Jones Industrial Average began trading the U.S. stock market briskly and confidently. But then came the bad news for The DJIA from the banking sector. Dow Jones Industrial Average is at 10,147.85 points mark, picking up +49.95 points (0.49%). U.S. stock market traded in a weak positive territory in the first half of the session. Technical indexes rebound after a sharp decline last Friday, could not realize due to the negative data from the housing market: in July, the index of real estate market NAHB has fallen to 14 points from 17 points in June.

Negative makro statistics diminished positive financial reporting Halliburton. Indicator of blue chips, the Dow turned green at 0.21% to the value of 10119 points, the index of wide market S & P 500 added 0.15% and traded at 1,066.53 points, and Nasdaq index of hi-tech companies grew by 0,15% to a mark 2,182.35 points. Prices for futures for Brent crude rose by 0.31% to $ 75.60 per barrel. Copper futures traded at $ 293.7 per pound, while gold sold at $ 1,181.3 an ounce. Halliburton reported a net profit growth in the second quarter with $ 262 million, or 29 cents per share a year earlier to $ 480 million, or 53 cents per share. Consolidated revenues for the period increased from $ 3.8 billion to $ 4.4 billion or 15.7%. Operating margin increased by more than 5% to 17% in the second quarter. The company’s shares had advanced 4.9%.

Equity Bank Bank of America declined by 3.15% due to the disappointing results for the second quarter, announced on Friday last. In addition, the investment bank Oppenheimer cut the fair value of shares of Bank of America to $ 19 from $ 22. The world’s largest air carrier Delta Air Lines reported for the second quarter: earnings per share totaled 55 cents compared with a net loss of 31 cents, recorded a year earlier. The results fell short of expectations of analysts, and the company’s shares fell by 3.67%. U.S. drugstore chain for animals PetMed Express has lost 7,09% of the market value of shares due to a sudden fall in sales in the first quarter. Earnings per share totaled 32 cents, or 15% less than analysts had expected. Shares ATC Technology, graduating details for cars, jumped 39% after it became aware of the takeover company Genco Distribution System for $ 25 per share in cash. Pharmaceutical company Cypress Bioscience soared to 32,8% on news of takeover of hedge fund Ramius for $ 4 per share.

Ukrainian Globalist
2010-07-19 18:48, Economics.

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