SP 500 fell on Thursday to a minimum of 3 months after the technology sector

Written by admin on February 27th, 2010

U.S. stock indices have lost up to auction on Thursday, more than 1%, with the value of Standard Poor "s 500 dropped to a minimum almost for three months.

One reason for this decline in value of securities launched Qualcomm at 14% after reducing the company forecast sales that dragged the entire technology sector, said the agency Bloomberg. This was a record decline in nearly 10 years.

manufacturer of chips for phones Qualcomm expects the current financial year revenue of $ 10,4-11 billion, while in November, the expectations were at $ 10,5-11,3 billion

In addition, negative for the market has increased fears that Greece will not be able to finance the budget deficit.

Quotations of futures on Jan. 29 continue to show negative dynamics: the March contracts for SP 500 lost 0.38%, for Dow Jones - 0,29%.

"Company, predicting growth, but not showing it, will be punished, while investors are willing to pay a premium for shares of companies that are really growing," - said president of Axiom Capital Management Liam Dalton.

technology sector SP 500 fell on Thursday to 2.9%, and the sub-index of financial institutions dropped to 0,4%.

Motorola"s share price fell by 12%. The largest manufacturer of mobile phones in the United States expects a loss in the first quarter.

Paper

Apple fell 4.1% against the backdrop of criticism from some observers of the new tablet computer company - iPad.

At the same time, Procter Gamble shares went up by 1,4%. The world"s largest producer of consumer goods in the fiscal second quarter reduced net income by 6,8%, but it exceeded expectations, because a decrease in prices allowed to raise sales volumes. Net profit in October-December was $ 4.66 billion, or $ 1.49 per share. Experts on average expected $ 1.36 per share.

Quotations securities Eastman Kodak jumped by 25%, which was a record growth among the shares of SP 500 on Thursday. Net profit of the manufacturer of cameras and photographic supplies in the fourth quarter was $ 1.36 per share, while analysts on average forecast of 18 cents.

Experts expect that in October-December 2009, completed a record for the duration of the downturn in corporate profits length of nine quarters. The average projected increase in profits of companies whose shares are included in the calculation of the SP 500 at 73%.

Index Dow Jones Industrial Average on Thursday fell 115.7 points (1.13%) - to 10,120.46 points.

Value Standard Poor "s 500 went down for the day on 12.97 points (1.18%), amounting to 1,084.53 points. This is the minimum level of 6 November last year.

Nasdaq Composite lost on the basis of trades 42,41 points (1.91%) - up to 2179 points.

Since the beginning of this year, reducing Dow Jones is 2,95%, SP 500 - 2,7%. The Nasdaq has lost this year, almost 4%.


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