The major stock indices have stayed near their opening values
today after the release of mixed earnings results and the release
of a weak durable goods reading for March. The
(INDEXDJX:.DJI) decreased 0.27% to 14,679.34. The
(INDEXSP:.INX) dropped 0.07% to 1,577.72, and the
(INDEXNASDAQ:.IXIC) fell 0.29% to 3,259.83.
The US Census Bureau reported today that new orders decreased $13.1
billion, or 5.7%, to $216.3 billion in March, the largest decrease
in seven months. Excluding transportation, total new orders
decreased 1.4%. New orders for transportation equipment fell $11
billion, or 15%, to $62.4 billion in March. Read the full report
The Mortgage Bankers Association, or MBA, reported in its Weekly
Applications Survey today that the Market Composite Index, which
measures mortgage loan application volume, increased a seasonally
adjusted 0.2% for the week ending April 19. The Refinance Index
increased 0.3% week-over-week. The Purchase Index increased a
seasonally adjusted 0.3% week-over-week to its highest level since
May 2010. Read the press release
The Energy Information Administration, or EIA, reported today that
US commercial crude oil inventories, which excludes the inventories
of the Strategic Petroleum Reserve, increased a weekly 0.9 million
barrels for the week ending April 19 to 388.6 million barrels.
Total motor gasoline inventories decreased by 3.9 million barrels
last week, and distillate fuel inventories increased 0.1 million
barrels last week. Refineries operated at 83.5% of their operable
capacity last week. Read the full report
The US Treasury Department will conduct its monthly auction of the
5-year Treasury note today at 1 p.m. EDT.
) plunged 5.64% to $36.80. The US mobile service company reported a
first-quarter profit yesterday of $3.7 billion, or $0.67 per share,
versus $3.58 billion, or $0.60 per share, in the prior-year
quarter. Revenue declined to $31.36 billion from $31.82 billion
from a year ago. The company added a net 296,000 subscribers during
the first quarter.
Procter & Gamble
) fell 5.11% to $77.75. The producer of consumer products reported
a fiscal third-quarter net income of $2.57 billion, or $0.88 per
share, compared to $2.41 billion, or $0.82 per share, in the
prior-year quarter. Revenue climbed 2% year-over-year to $20.6
billion. The company expects to report earnings per share of
between $0.69 and $0.77 for its fiscal fourth quarter ending on
June 6. The average analyst estimate according to data compiled by
Bloomberg is $0.81.
) increased 3.40% to $91.18. The aircraft maker reported a
first-quarter profit today of $1.87 billion, or $1.73 per share,
compared to $1.77 billion, or $1.40 per share, in the prior-year
quarter. Revenue fell 2.5% year-over-year to $18.9 billion. A
decline in 787 deliveries and US budget cuts hurt revenue.
) rose 5.14% to $13.81. The specialty glass maker reported today a
first-quarter net income of $494 million, or $0.33 per share,
compared to $474 million, or $0.31 per share, in the prior-year
quarter. Excluding items, Corning earned $0.30 per share. Revenue
remained little changed year-over-year at $1.81 billion. Strong
demand for its Gorilla Glass helped sales.
) spiked 11.85% to $45.12. The solar energy company announced
yesterday that it has sold its 139-megawatt Campo Verde Solar
Project in California to Southern Power, a subsidiary of
(SO). The price has not been disclosed.