Stocks rise on better-than-expected earnings reports
Investors set aside some of their worries about the economy Friday after Ford Motor Co. posted better-than-expected results for the first three months of the year.
The welcome news from Ford comes as investors wait for details on the methodology for the “stress tests” that regulators have given to 19 of the largest U.S. financial institutions. Federal regulators on Friday will privately begin telling the nation’s 19 largest financial institutions how well they performed.
Stocks are off sharply as investors grow concerned about the financial sector
Investors are having doubts about banks’ profit reports and wondering whether their better-than-expected performance mask larger problems with bad debt.
Stocks fell sharply early Monday as investors sold financial stocks and locked in profits after a six-week rally. The major indexes slid more than 2.5 percent, including the Dow Jones industrial average, which fell 200 points.
Worries about the financial industry overshadowed Oracle Corp.’s announcement that it would acquire Sun Microsystems Inc. for $7.4 billion and a $6 billion bid by PepsiCo Inc. to buy its two biggest bottlers.
Wall Street trades mixed on signs economy is still struggling
Stocks are trading mixed on Intel Corp.’s decision not to provide detailed forecasts for future quarters, although the chipmaker’s first-quarter earnings came in well above expectations.
Government data provided further signs of a slowing economy. The Federal Reserve said production at the nation’s factories, mines and utilities fell for the fifth straight month in March, matching February’s drop and surpassing the 1 percent dip analysts expected. And the Labor Department reported consumer prices fell 0.1 percent last month as a drop in energy prices offset the biggest rise in tobacco prices in more than a decade. It was a better performance than the 0.1 percent rise in the Consumer Price Index that economists had expected, but still reflected weaker business activity.
The data, plus corporate news like Intel’s are fanning worries in the market that a five-week rally in stocks from early March might have been overdone.
In early trading, the Dow Jones industrial average rose 21.11 points to 7,941.29. Broader stock indicators were mixed. The Standard & Poor’s 500 index rose 1.03 points to 842.53, and the Nasdaq composite index, reflecting disappointment about Intel’s report, fell 10.03 points to 1,615.69.
Yesterday’s Top Performing SmallCapVoice.com stocks:
Attitude Drink Company, Inc. (OTC BB: ATTD) was a SmallCapVoice.com top performer moving up over 95% on trading volume of 267,000 shares.
Defense Solutions, Inc. (OTC BB: DFSH) was a SmallCapVoice.com top performer moving up over 29% on trading volume of 458,342 shares.
Today’s SmallCapVoice.com Hot Stock to Watch:
GWS Technologies, Inc. (OTC BB: GWSC)
GWS Technologies, Inc., an alternative energy company developing renewable energy solutions, received national media coverage in an article written by Commercial Property News and produced by Neilson Business Media, a part of the Nielsen Company.
GWS Technologies Receives National Media Coverage
The article focuses on GWSC’s alternative energy-themed industrial park in Arizona and highlights the innovative ways in which developers are finding to give industrial development a green twist.
On April 2, GWS Technologies Inc. and Sustainable Eco-Green Development Co. announced that they are teaming up to develop the project next to the Phoenix-Mesa-Gateway Airport in Mesa as part of a 900-acre parcel owned by Paragon Properties. A signature element of the GWS Technologies-SEDCO park will be solar power provided by an on-site plant, and the developers plan to make the park a hub for alternative energy companies.
GWS Technologies and SEDCO are banking on the growing interest in sustainability to attract a variety of both established and start-up tenants. “There are a lot of ways to be green,” said GWS Technologies CEO Richard Reincke. One strategy will be to draw alternative energy companies from locations like California and Mexico’s border region, as well as local start-ups. The developers want to build an incubator center for alternative energy start-ups.
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Wall Street extends Monday’s losses ahead of first-quarter earnings
Wall Street extended its losses into a second day Tuesday as worries about banks’ balance sheets and poor first-quarter earnings reports intensified.
The Dow Jones industrial average dropped more than 150 points while the broader indexes fell more than 1.5 percent.
Word that the International Monetary Fund was set to forecast $4 trillion in bad assets on banks’ books added to concerns about the financial industry. Published by The Times of London, the report underscored investors’ fears that the U.S. government’s recent efforts to purge banks of troublesome loans might not work.
Meanwhile, investors are bracing for the coming flood of first-quarter earnings reports. Aluminum giant Alcoa Inc. will kick off earnings season Tuesday after the close of the market.
Investors have been more optimistic in recent weeks, sending the major indexes up more than 20 percent from 12-year lows in early March on increasingly positive news about the economy. But many analysts have warned that the rally might not be sustainable, especially as first-quarter earnings loom.
The BTR-4 is designed to meet NATO Standards of Interoperability
EXTON, Pa., April 6 /PRNewswire-FirstCall/ — Defense Solutions, Inc., an international project management firm and a wholly owned subsidiary of Defense Solutions Holding, Inc. (OTC Bulletin Board: DFSH), reported that it has joined the team producing a NATO-compatible armored personnel carrier, the BTR-4, for the world military and police markets.
According to Defense Solutions’ Chief Executive, Colonel Tim Ringgold, US Army (Retired), Defense Solutions will supply export approved American technologies to make this new production armored vehicle NATO-compatible. The BTR-4 will be manufactured in Ukraine and assembled in Macedonia. ‘Defense Solutions has joined the team because the BTR 4 offers the best price-performance ratio on the market and because both Ukraine and Macedonia are important American allies in the Global War on Terror, having provided soldiers to fight alongside US. forces in Iraq.
Stocks extend gains following upbeat corporate and economic data
Stocks extended their gains to a second day Thursday after an upbeat profit report from Best Buy Co. and new unemployment numbers added to a sense that the economy might be finding its footing.
The report from Best Buy boosted hopes that consumer spending could show more resilience than some analysts had expected.
Readings on the nation’s economic output and weekly unemployment claims gave mixed signals about the economy. But the numbers still largely supported a growing notion in the market the past two weeks that the economy might be showing early signs of stabilizing.
In midmorning trading, the Dow Jones industrial average rose 59.02, or 0.8 percent, to 7,808.83. Broader stock indicators also rose. The Standard & Poor’s 500 index rose 7.39, or 0.9 percent, to 821.27, and the Nasdaq composite index rose 26.85, or 1.8 percent, to 1,555.80.