Evening Market Wrap

Evening Market Wrap Thursday, October 20, 2011, 17:01 Contents Commentary Economic News Corporate News Commentary Volatile Trading Results In Mixed Close On Wall Street - U.S. Commentary Stocks showed a lack of direction throughout the trading on Thursday, as traders reacted to just about every headline out of Europe. The major averages bounced back and forth across the unchanged line before eventually ending the session mixed. (Oct 20, 2011) Full Article Economic News U.S. Jobless Claims Show Modest Decrease, 4-Week Average Hits 6-Month Low New U.S. unemployment insurance claims showed a modest decrease in the week ended October 15th, although revisions to the previous week's data kept the number of new claims above the key 400,000 level. According to figures released Thursday by the Labor Department, seasonally adjusted new claims for unemployment insurance came in at 403,000 for the week. (Oct 20, 2011) Full Article Philly Fed Index Unexpectedly Indicates Growth In October Manufacturing activity in the mid-Atlantic region is showing signs of recovery following several months of decline, according to a report released Thursday by the Federal Reserve Bank of Philadelphia, with the index of activity in the manufacturing sector unexpectedly turning positive in October. The Philly Fed said its diffusion index of current activity jumped to a positive 8.7 in October from a negative 17.5 in September, with a positive reading indicating an increase in activity. (Oct 20, 2011) Full Article U.S. Existing Home Sales Dip 3% In September After Jumping In August After reporting a notable jump in U.S. existing home sales in the month of August, the National Association of Realtors released a report on Thursday showing a relatively modest pullback in existing home sales in September. NAR said existing home sales fell 3.0 percent to an annual rate of 4.91 million in September after jumping 8.4 percent to 5.06 million in August. Economists had been expecting sales to drop to 4.93 million from the 5.03 million originally reported for the previous month. (Oct 20, 2011) Full Article U.S. Leading Economic Indicators Index Edges Up By 0.2% In September The Conference Board released its report on U.S. leading economic indicators in the month of September on Thursday, showing that its leading economic indicators index increased by slightly less than economists had been anticipating. The report showed that the leading economic index edged up by 0.2 percent in September after rising by 0.3 percent August and advancing by 0.6 percent in July. The index had been expected to increase by about 0.3 percent. (Oct 20, 2011) Full Article Corporate News Ericsson Q3 Profit Rises LM Ericsson Telephone Co. (ERIC) said its third-quarter net income improved 6% to SEK 3.8 billion from SEK 3.6 billion a year ago, due to higher sales volumes. Quarterly earnings per share were SEK 1.18, higher than SEK 1.14 a year earlier; while earnings per share, non- IFRS, i.e. excluding amortizations and write-downs of acquired intangibles, grew to SEK 1.44 from SEK 1.42 in the third quarter of 2010. (Oct 20, 2011) Full Article Ericsson Q3 Profit Rises LM Ericsson Telephone Co. (ERIC) said its third-quarter net income improved 6% to SEK 3.8 billion from SEK 3.6 billion a year ago, due to higher sales volumes. Quarterly earnings per share were SEK 1.18, higher than SEK 1.14 a year earlier; while earnings per share, non- IFRS, i.e. excluding amortizations and write-downs of acquired intangibles, grew to SEK 1.44 from SEK 1.42 in the third quarter of 2010. (Oct 20, 2011) Full Article AutoNation Q3 Profit Up AutoNation Inc. (AN) reported 2011 third quarter net income from continuing operations of $70.7 million, or $0.48 per share, versus $58.5 million, or $0.39 per share, for the same period in the prior year. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $0.47 for the quarter. (Oct 20, 2011) Full Article AT&T Q3 Profit Plunges AT&T Inc. (T) said its third-quarter 2011 net income attributable to AT&T plummeted to $3.63 billion or $0.61 per share from $12.32 billion or $2.07 per share last year, which included one-time gains from a tax settlement and the sale of Sterling Commerce. Excluding one-time gains, earnings were $0.54 per share in the third quarter a year ago. (Oct 20, 2011) Full Article Home | Top Stories | Breaking News | Economic News | Forex | Politics | Featured Interviews Sent to autoforextradingpro@gmail.com | Customize your alerts | Unsubscribe Copyright © 2011 RTTNews. All rights reserved. By using this service, you agree to the Terms of Service