U.S. stocks closed lower on Wednesday (10/24/2012) early this morning. The weakening of weak results driven DuPont and United Technologies shares that show slowing profit growth.
Dow Jones industrial average fell 243.36 points, or 1.82%, at 13102.53. The S & P 500 fell 20.71 points, or 1.44%, at 1413.11. The Nasdaq composite index fell 26.49 points, or 0.88%, at 2990.46.Performance reporting season so far assessed resulted in a series of disappointments Wall Street expectations. With results from 29% in the company in the S & P 500, about 37% have exceeded earnings estimates far from an average of 62% and only 57.2% profit that beat estimates. The percentage was the worst since the fourth quarter of 2011.
"We get a series of missed estimates and revenue topped DuPont pretty bleak. Expectations are low and the results have come in generally lower, and that's why we see weakness here," said Bruce Zaro, Chief Technical Strategist Delta Global Asset Management, was quoted as saying of yahoofinance.com.DuPont shares lost 9.1% to U.S. $ 45.25 after the chemical company reported lower-than-expected performance in quarterly profit. The Company also announced layoffs. Stock index S & P materials sector fell 3% driven weakening DuPont shares.
DuPont, United Technologies and 3M Co. has cut the estimate of their performance today. In addition, Apple shares fell 3.3% to U.S. $ 613.36. Apple Chief Executive Tim Cook announced that the company will launch a tablet cheaper and smaller.
United Technologies shares fell 1% to U.S. $ 77.07. 3M shares fell 4.1% to U.S. $ 88.73. Meanwhile, after the bell Facebook shares rose 8.6% to U.S. $ 21.18 after the company recorded a 32% increase in revenues in the third quarter of 2012.
Netflix shares fell 16.5% to U.S. $ 57 after reporting the addition of subscribers at the lower end of the estimates for the U.S. TV and movie streaming business. Netflix to end regular trading up 0.5% to U.S. $ 68.22.
Shares of United Parcel Services rose 3% to U.S. $ 73.73. The Dow Jones rose 0.9% Avarage transportation. While foreign sentiment that Moody's downgrades five Spanish regions. That's because of limited cash reserves and payment bonds will come. Downgrade pushed back investor concerns over Europe.
Stock trading volume of 6.6 billion shares on the New York Stock Exchange, Nasdaq, and NYSE volume MKT than the average daily closing approximately 6.52 billion shares. [Hid]
Dow Jones industrial average fell 243.36 points, or 1.82%, at 13102.53. The S & P 500 fell 20.71 points, or 1.44%, at 1413.11. The Nasdaq composite index fell 26.49 points, or 0.88%, at 2990.46.Performance reporting season so far assessed resulted in a series of disappointments Wall Street expectations. With results from 29% in the company in the S & P 500, about 37% have exceeded earnings estimates far from an average of 62% and only 57.2% profit that beat estimates. The percentage was the worst since the fourth quarter of 2011.
"We get a series of missed estimates and revenue topped DuPont pretty bleak. Expectations are low and the results have come in generally lower, and that's why we see weakness here," said Bruce Zaro, Chief Technical Strategist Delta Global Asset Management, was quoted as saying of yahoofinance.com.DuPont shares lost 9.1% to U.S. $ 45.25 after the chemical company reported lower-than-expected performance in quarterly profit. The Company also announced layoffs. Stock index S & P materials sector fell 3% driven weakening DuPont shares.
DuPont, United Technologies and 3M Co. has cut the estimate of their performance today. In addition, Apple shares fell 3.3% to U.S. $ 613.36. Apple Chief Executive Tim Cook announced that the company will launch a tablet cheaper and smaller.
United Technologies shares fell 1% to U.S. $ 77.07. 3M shares fell 4.1% to U.S. $ 88.73. Meanwhile, after the bell Facebook shares rose 8.6% to U.S. $ 21.18 after the company recorded a 32% increase in revenues in the third quarter of 2012.
Netflix shares fell 16.5% to U.S. $ 57 after reporting the addition of subscribers at the lower end of the estimates for the U.S. TV and movie streaming business. Netflix to end regular trading up 0.5% to U.S. $ 68.22.
Shares of United Parcel Services rose 3% to U.S. $ 73.73. The Dow Jones rose 0.9% Avarage transportation. While foreign sentiment that Moody's downgrades five Spanish regions. That's because of limited cash reserves and payment bonds will come. Downgrade pushed back investor concerns over Europe.
Stock trading volume of 6.6 billion shares on the New York Stock Exchange, Nasdaq, and NYSE volume MKT than the average daily closing approximately 6.52 billion shares. [Hid]
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