US midday: No recovery for Dow
19 Mar 2010
The Dow is lower after the index hit an 18-month high in the previous session. Falling oil prices have hit oil companies and there are renewed concerns about Greece and its debt problems.
The strong dollar has hit mining and oil companies.
The Dow is currently down 56 points at 10,723. The Nasdaq is 21 points lower at 2,370, while the S&P 500 is 7 down at 1,159.
Shares in Palm plunged after the group posted a weaker-than-forecast sales outlook for the fourth quarter.
Shares in Boeing continue to rise after it announced increased production of 777 and 747 aeroplanes.
Health insurer Aetna says that first quarter earnings will be better than expected.
Medical records software provider Cerner Corp is replacing oil services company BJ Services in the S&P 500.
In broker news, Goldman Sachs upped its stance on electronics retailer Best Buy to buy from neutral.
Citigroup cut its recommendation for DirectTV Group from buy to hold
US banking giant JPMorgan Chase has reportedly used the same accounting "gimmick" that managed to hide Lehman's insolvency.
The Financial Times reported on Friday that JPMorgan recorded some repurchase trades in the past decade as sales - the same accounting treatment that spawned Lehman Brothers' Repo 105s.
"The transactions were done in very small amounts and were fully disclosed," the paper quotes a spokesman for the company as saying.
S&P 500 - Risers
Titanium Metals Corp. (TIE) $14.70 +3.29%
Cigna Corp. (CI) $36.96 +3.13%
Aetna Inc. (AET) $34.24 +2.99%
Genzyme Corp. (GENZ) $59.11 +2.96%
Rockwell Collins Inc. (COL) $62.85 +2.76%
Ross Stores Inc. (ROST) $53.52 +2.63%
Precision Castparts (PCP) $122.43 +2.58%
Coventry Hlth Care (CVH) $26.41 +2.40%
Wellpoint Inc. (WLP) $65.18 +2.13%
Unitedhealth Group (UNH) $34.25 +1.96%
S&P 500 - Fallers
Nabors Inds Inc. (NBR) $19.75 -4.24%
Cameron International Corp. (CAM) $41.53 -3.80%
Baker Hughes International (BHI) $47.53 -3.74%
Cabot Oil & Gas Corp. (COG) $38.12 -3.54%
Teradyne Inc. (TER) $10.44 -3.42%
DIRECTV Class A (DTV) $33.46 -3.29%
Halliburton Co (HAL) $30.54 -3.29%
BJ Services Company (BJS) $21.63 -3.26%
Southwestern Energy (SWN) $39.50 -3.14%
Slm Corp. (SLM) $11.89 -3.10%
Dow Jones I.A - Risers
Coca-Cola Co. (KO) $54.80 +1.58%
United Technologies Corp. (UTX) $73.29 +1.09%
Boeing Co. (BA) $71.53 +0.93%
AT&T Inc. (T) $26.19 +0.51%
Verizon Communications Inc. (VZ) $30.40 +0.33%
Procter & Gamble Co. (PG) $63.81 +0.13%
Dow Jones I.A - Fallers
3M Co. (MMM) $82.12 -1.85%
Bank Of America Corp. (BAC) $16.81 -1.57%
American Express Inc. (AXP) $40.43 -1.39%
Pfizer Inc. (PFE) $17.00 -1.33%
Intel Corp. (INTC) $21.94 -1.17%
Caterpillar Inc. (CAT) $59.13 -1.07%
General Electric Co. (GE) $18.00 -1.05%
International Business Machines Corp. (IBM) $127.09 -1.00%
Exxon Mobil Corp. (XOM) $66.75 -0.95%
Merck & Co. Inc. (MRK) $38.09 -0.93%
Nasdaq 100 - Risers
Genzyme Corp. (GENZ) $59.11 +2.96%
Ross Stores Inc. (ROST) $53.52 +2.63%
Teva Pharmaceutical Industries Ltd. Ads (TEVA) $63.12 +1.79%
Cephalon Inc. (CEPH) $72.27 +1.76%
Vertex Pharmaceuticals Inc. (VRTX) $42.35 +1.56%
Expeditors International Of Washington Inc. (EXPD) $38.61 +1.53%
Amgen Inc. (AMGN) $59.10 +1.35%
Cerner Corp (CERN) $88.44 +1.14%
Gilead Sciences Inc. (GILD) $47.93 +1.08%
Citrix Systems Inc. (CTXS) $48.57 +1.06%
Nasdaq 100 - Fallers
Hologic Inc. (HOLX) $18.72 -4.29%
DIRECTV Class A (DTV) $33.46 -3.29%
Logitech International S.A. (LOGI) $16.26 -3.16%
Adobe Systems Inc. (ADBE) $34.65 -3.09%
Sandisk Corp. (SNDK) $32.10 -2.87%
Joy Global Inc. (JOYG) $55.00 -2.64%
Network Appliance Inc. (NTAP) $32.44 -2.58%
Altera Corp. (ALTR) $24.77 -2.44%
Dish Network Corp. (DISH) $20.84 -2.25%
Garmin Ltd. (GRMN) $35.96 -2.14%
