The main stock indexes in the United States fell in early on the last trading session this week, after the financial results of General Electric and Bank of America disappoint investors, and the index of consumer confidence in the University of Michigan unexpectedly decreased. As a result, Dow Jones IA away from the one-year peak, which subdued during yesterday’s session. Two hours after the start of trading the index of the 30 largest companies on the New York Stock Exchange decreased by nearly 1 percent to 9962.9 points. The wider S & P 500 retreated further to 1.1 percent to 1084.2 points while the index of companies by the exchange Nasdaq – Nasdaq Composite, lost 1.3 percent to 2145.5 points. Financial and technology companies are ranked among the top companies in the losers of the session. The loss of the largest in size of its assets to U.S. Bank Bank of America for the third quarter was greater than expected. Investors ignored the good financial results on Google and IBM, and the rise of industrial production by 0.7 percent in September.
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Good start of the reporting season in the United States raised the bar on market expectations. Economic data and quarterly financial results that will come out this week, will undergo a serious test of investor confidence in the state of the economy. Furthermore, during this and next week at most public companies will publish their financial results. The week will begin with reports of Apple technology company and a statement of the Federal Reserve chairman Ben Bernanke in Asia on financial crisis. Total 135 companies or 27% of the index S & P 500 will report its financial results over the next seven days. Among them most are emerging from American Express, Microsoft, McDonald’s, Pfizer, 3M and Coca-Cola. Other big names that will be monitored closely by the markets are Yahoo, Wells Fargo, UPS, Amazon and eBay. Once reached its lowest value for the last 12 years in March, broader index S & P 500 rose by 61 percent over the next seven months. According to data from Thomson Reuters 79% of companies in the composition of the S & P 500 that have published their third-quarter results so far have surpassed market expectations. The best companies are presented in the financial sector. Market analysts expect that profits of financial companies will increase on average by 100% yoy in the third quarter after the autumn of last year’s financial crisis reached its peak forward CNN.
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The value of purchases made with MasterCard in Europe with growth of 3 percent for the second quarter versus the same period last year. From April 1 to June 30, cardholders of the Old Continent have made 1.7 billion card payments with their MasterCard, including the Internet. At 30th June 2009, 196 million cards MasterCard (without the inclusion of the Maestro and Cirrus), were issued by financial institutions, customers of MasterCard, across Europe, which increased by 3.8 percent, compared with results for the second quarter of 2008. The European cardholders could use their MasterCard cards at 8.6 million locations in the region and 29.4 million locations worldwide, including online.
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The Swiss bank UBS announced losses of 1.4 billion Swiss francs (about 916 million) in the second quarter of the year, reported BBC. Although the reporting period, market conditions have improved economic environment in many areas of the bank remain in recession, marked by the credit institution. One of the main reasons for this negative result is the removal of assets from the division of the bank in the U.S. Sought comment on analysts believe that the net loss of UBS will be tripled by the end of the year. In turn, the bank announced that it will act very carefully and constantly monitor their prospects. “Overall, our forecast has not changed and is consistent with our view that economic recovery will be hampered because of low levels of lending and structural weaknesses of the consumer and government accounts, write to the shareholders of the bank president of UBS Osvald rough and President Board of Directors Viliger Caspar.
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The biggest energy company in Italy and the owner of the Maritsa East 3 Enel reported 28% growth in its net profit to 3.524 billion euros in the first half of the year versus the same period in 2008, announced by the company. The company’s operating profit increased by 11 percent to 5.579 billion euros. The company’s revenues amounted to 28.457 billion or 3 percent less than the same period last year. The net electricity produced by the Enel Group in the first half of 2009 amounted to 122.4 tera-W/h (growth of 5.1%), of which 42.3 TWh in Italy and 80.1 TWh – in the world. Of the total net amount of 53.8% is produced from thermal power stations, 34.5 percent from renewable sources (hydro, wind, geothermal and biomass) and 11.7 percent from nuclear plants. As part of the plan to refinance and extend the average maturity of the consolidated liabilities of the Group Board of Directors of Enel and approve the issue – until June 30, 2010, one or more bond issues to a maximum value of 10 billion euros.
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Sony continues to lose. Giant in the field of electronics reported a quarterly loss due to new falling sales, reports BBC. The Japanese company reported net loss amounted to 37.1 billion yen ($ 390 million; £ 237 million) between April and June, compared with profit of 35 billion yen for the same period reported last year. The loss is not greater than market expectations, due to the ongoing efforts to reduce the cost of Sony. In May, Sony announced the first annual loss in its history. The company expects a serious loss in this financial year. The revenue of Sony for the period April-June were 19 percent of those earlier years, which is about 1.6 trillion yen. In addition to the ongoing decline in global sales from the company stated that this is due to the high value of the yen, which affect overseas earnings.
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Sales of the Windows operating system software giant Microsoft noted a trend of continuous decline. This also affects the overall financial performance of the company. In the second quarter of 2009 Microsoft reported 29% drop in profits to $ 3.05 billion, or 34 cents on average shares versus $ 4.3 billion, or 46 cents per share for the same period in 2008. Revenue also fell by 17 percent to $ 13.1 billion, which much less than the expected $ 14.37 billion according to agency analysts were expecting 36 cents per share. Unlike its major competitors, IBM and Intel-based Washington State Microsoft Corp. Assigned much smaller hopes to improve the situation on the market. “While it is not the place you come from years ago, which is optional, may become worse and, forecasts Chris Lidel, Finance Director, founded by Bill Gates company. According to agency Reuters Microsoft hopes that by running the new version Windows 7, scheduled for October 22, sales of most products will increase. Before long, however, sociological agency ScriptLogic conducted survey commissioned by Microsoft, and the results were not encouraging.
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