Stocks continued moving lower today after the release of several
economic reports that reported slightly negative numbers. The
(INDEXDJX:.DJI) decreased 0.38% to 14,562.60. The
(INDEXSP:.INX) dropped 0.49% to 1,544.37, and the
(INDEXNASDAQ:.IXIC) fell 0.86% to 3,176.97.
The US Department of Labor reported today that seasonally adjusted
initial jobless claims increased by 4,000 to 352,000 for the week
ending April 13. The four-week moving average rose by 2,750 to
361,250. Continuing claims for the week ending April 6 decreased
35,000 to 3,068,000, and the four week moving average decreased
2,250 to 3,083,000. Read the full report
The Federal Reserve Bank of Philadelphia released its Business
Outlook Survey today. The survey's diffusion index of current
activity, the survey's broadest measure of manufacturing
conditions, fell from 2.0 in March to 1.3 in April. A positive
reading indicates general growth. Read the full report
The Conference Board reported today that its US Leading Economic
Index decreased 0.1% in March. The index's components of consumer
sentiment building permits, ISM new orders, workweek in
manufacturing, and initial unemployment claims offset the the gains
in the other components of the index. For the six month period
ending in March, the index increased 1.6% compared to the 0.1%
growth for preceding six months. Read the full report
Bloomberg reported today that its Bloomberg Consumer Comfort Index
increased by 4.8 points to -29.2 for the week ending April 14. This
marks the index's highest reading since January 2008.
Year-over-year, the index climbed from -32.8. Read the press
The Energy Information Association, or EIA, reported today that the
natural gas in storage for the week ending April 12 increased by 30
billion cubic feet to 1,704. Read the report
) dropped 3.82% to $20.65. The bank reported a first-quarter profit
today of $984 million, or $0.50 per share, compared to a loss of
$94 million, or $0.06 per share, in the prior-year quarter.
Excluding an accounting charge, the earned a profit of $0.61 per
share, beating the $0.56 average estimate of 20 analysts surveyed
by Bloomberg. Revenue increased to $8.2 billion from $6.9 billion
in the prior-year quarter.
Its bond-trading and stock-trading revenues decreased by 42% and
) rose 3.50% to $51.27. The second largest US phone company
reported first-quarter profits that beat analyst estimates.
Earnings increased from $1.69 billion, or $0.59 per share, in the
prior year quarter to $1.95 billion, or $0.68 per share. Analysts
surveyed by Bloomberg on average predicted earnings of $0.65.
Revenue increased from $28.24 billion to $29.42 billion.
) fell 1.92% to $395.08. Some Asian Apple suppliers have hinted
that sales of Apple products may be lower than expected.
) increased 3.63% to $81.71. The world's largest snack-food maker
reported a first-quarter net income of $1.08 billion, or $0.69 per
share, compared to $1.13 billion, or $0.71 per share, in the
prior-year quarter. Excluding some items, the company earned a
profit of $0.77, beating the average $0.71 estimate of 14 analysts
surveyed by Bloomberg. Sales increased 1.2% to $12.6 billion.
) plunged 5.10% to $53.24. The online auction website and retailer
reported a first-quarter net income of $677, or $0.51 per share,
compared to $570 million, or $0.44 per share, in the prior-year
quarter. Its profit was $0.63 per share, beating analyst estimates
of $0.62 per share. The company reported sales of $3.75 billion,
missing the average analyst estimate of $3.77 according to