Equities Update: Mixed Finish

by: Midnight Trader

4:20 PM, Apr 26, 2010 --

  • NYSE down 24 (0.3%) to 7,677.65
  • DJIA up 0.8 (0.01%) to 11,205
  • S&P 500 down 5 (0.4%) to 1,212
  • Nasdaq down 7 (0.3%) to 2,523


  • Hang Seng up 1.61%
  • Nikkei up 2.3%
  • FTSE up 0.68%


(+) CAT swings to Q1 profit, guides for FY sales beat.

(+) WHR beats with results, boosts full year view.

(+) DRAD gets FDA 510k clearance for Ergo Imaging System.


(-) C down as Treasury details more share sales.

(-) HUM turns lower despite beating with results, raising guidance.

(-) NBG continues recent declines amid Greece debt worries.

(-) NOK downgraded.

(-) CKR sold for 12.55 per share.

(-) FSNM shrinks loss.


The blue-chip Dow Jones Industrial Average ends just positive, enough to extend its win streak to six sessions. Both the S&P 500 and the tech-heavy Nasdaq Composite end modestly lower and in the bottom end of the day's trading range.

Stocks were mostly mildly lower and twisting at the low end of the day's range very late in the session. Wall Street began the day higher with help from solid results and guidance from heavy equipment-maker Caterpillar (NYSE:CAT), considered a bit of an economic indicator. Whirlpool's results were also encouraging to the broader stock market since it can reflect consumers' willingness to spend on big-ticket appliances.

But mixed trade isn't much of a surprise as the market had already made big strides leading up to and in the early days of the latest round of earnings results.

Some early hesitation on the part of stock bulls was pinned on continued Greek debt concerns. The nation's Finance Minister George Papaconstantinou tried to reassure investors on Sunday, saying his nation wouldn't have to restructure its debt and would never leave the euro zone, according to media reports.

Commodities ended the day mixed as crude oil futures finished lower while gold futures closed on a high note.

Crude oil for June delivery declined $0.92, or 1.1%, to close at $84.20 a barrel on the New York Mercantile Exchange. In other energy futures, heating oil was down 0.53%, or $0.01, to $2.23 while natural gas was up 0.54%, or $0.02, to $4.28.

Meanwhile, gold for June delivery rose $0.30, or 0.03%, to $1,154 an ounce while platinum for July delivery added $3.30, or 0.2%, to close at $1,745 an ounce. Silver for May delivery rose $0.14, or 0.8%, to end at $18.33 an ounce. Palladium for June delivery gained $3.20, or 0.6%, to $566.40 an ounce.

CAT gained after it reports Q1 earnings of $0.36 per share, up from a year ago loss of $0.19 per share. Excluding a charge, earnings for Q1 were $0.50 per share. The Street view was $0.39 per share, according to Thomson Reuters. Sales were $8.238 bln, down from $9.225 bln in the year ago quarter. The analyst mean was $8.83 bln.

For the full year 2010, the company is guiding for sales of $38 to $42 bln and EPS of $2.50 to $3.25 per share. The Street is at $36.9 bln in sales and earnings of $2.69 per share.

Citi (NYSE:C) fell after the U.S. Treasury Department approved a sale of 1.5 billion shares of Citigroup common stock in a step toward reducing its 27% stake in the Wall Street firm, The Wall Street Journal and other news outlets report, citing a Treasury statement.

Whirlpool (NYSE:WHR) is up nearly 14% after it reports Q1 earnings of $2.13 per share, up from $0.91 per share a year ago. Sales were $4.3 bln, up from $3.6 bln last year. The Street view was $1.33 per share in earnings on revenue of $3.8 bln.

For the full year 2010, the company is guiding for earnings between $8.00 and $8.50 per share, up from its previous outlook of $6.50 to $7.00 per share. The Street is at $7.08 per share.

Nokia (NYSE:NOK) was lower after an analyst downgrade to market perform from outperform at Bernstein, according to Marketwatch.com.

Greystar Resources (OTCPK:GYSLF) plummets after the company said a request by the Colombia Ministry of Environment, Housing and Territorial Development to file a new environmental impact assessment on the Angostura project in the country will "severely" affect the schedule of its plans to invest $1 billion to explore for gold and silver in Colombia and may have a "material effect on its economic viability," Bloomberg reports.

In mergers and acquisitions, Thomas Weisel (TWPG) shares soar 64% on news Stifel Nicolaus will buy the company in a $300 million deal.

Dollar Thrifty (NYSE:DTG) gained after Hertz (NYSE:HTZ) says it will pay $41 per
share in a stock-cash deal for DTG. The $41 per share deal will be 80% cash and 20% HTZ stock.

Protection One (PONE) rises 12% on a going private deal with GTCR for $15.50 per share in cash.