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The major indices posted solid increases this full week as tech shares rallied on several encouraging corporate items. The S&P 500 climbed 1.5%, sending the benchmark index to a 0.9% gain for the year. 80% of all sectors advanced. Unexpected excellent reports and news, incoming share repurchases and dividends helped the tech sector to rise 4.4%. The defensive-oriented utility sector underperformed having a loss of 0.9%. Friday posted a very dynamic trading session due to quadruple witching when compared with typical activity on Thursday. In earnings news, Best Buy (BBY) found support after it posted better-than-expected earnings and increased its return perspective. Shares rose almost 10% for the week. Both Oracle (ORCL) and Research Motion (RIMM) stocks rose 9.7% and 5.9% correspondingly after reporting better-than-expected earnings and issueing strong guidance. FedEx (FDX) however, slipped 2.2% value of its stock shares for missing target earnings. Dow sections Hewlett-Packard (HPQ) and 3M (MMM) been busy this week with other corporations on the M&A front. Hewlett-Packard is scooping up ArcSight (ARST) for $43.50 per share. Individually, 3M proposed $10.50 per stock for Cogent (COGT). At the same time, Dollar Thrifty (DTG) was being compensated $50 per share by Hertz (HTZ). Companies are backed with adequate funds which might make M&A stay busy this upcoming week. Firms are believed to turbocharge their dividend payments and stock repurchases. In the course of a presentation, cash-rich Cisco (CSCO) hinted at likely providing a dividend. Also, the JPMorgan (JPM) is planning that dividend payout will be restored to 30-40% range. MasterCard (MA) proclaimed the approval of a $1 billion share repurchase plan. Texas Instruments (TXN) proclaimed a share repurchase plan of $7.5 billion, comprising a one fourth of its market limit. The Basel III international regulation for banks was released over the past weekend. The latest rules were not as strict as some had estimate and provided plenty of time frame to ease the implementation, providing financial stocks a boost. The new capital requirements need a rise of the necessary common equity to 4.5% from 2.%. The more stringent requirements will be implemented over a nine year time period. In economic news, August retail sales surpassed by 0.1% the expected 0.3% when it gone up to 0.4%. In commodity trading, gold climbed to the high of $1282.50 per ounce, a fresh all-time nominal high. In overseas news, as the strengthening yen threatens Japan's exporters, the Japan made the decision to get involved in the money market to stop the yen's power. The yen dropped 1.9% on the week.
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