Wall Street still hesitant on Wednesday, with a barrel of crude near to $ 104 on the Nymex, which tended to weigh on the indices. On the economic front in the U.S., inventories and wholesale sales for January 2011 stood out in advance. DJIA finally yielded 0.01% to 12,213 pts, while the Nasdaq gave up 0.51% to 2752 pts.
According to the U.S. Commerce Department on Wednesday, stocks of wholesalers in the United States for January 2011 increased 1.1% compared to the previous month, against 0.9% consensus and 1.3% growth in December 2010 (revised 1%). Stocks totaled 436.9 billion dollar from January , an increase of 11.9% compared to January 2010.
Wholesale sales, for their part have appreciated by 3.4% compared to the previous month to 387 billion dollars, and jumped by 15.4% compared to January 2010.
According to the latest weekly report released by the U.S. Department of Energy, commercial stocks of crude, excluding the strategic reserve have increased for the week ended March 4, 2011, 2.5 million barrels to 348.9 million barrels. The consensus expected a rise of 0.4 million barrels.
Gasoline stocks have now declined by 5.5 million barrels when the consensus expected a decline of 1.5 million barrels. Finally, stocks of distillates (diesel and heating oil) fell by 4 million barrels when the consensus expected a decline of 0.6 million barrels.
Yesterday evening, the American side had finally affirmed an increase due to a banking sector led by Bank of America and rumors of mergers and acquisitions for example Sprint Nextel ... Wednesday, operators will follow in particular the case Texas Instruments, according to estimates adjusted the semiconductors Group . Dynegy has in turn created great excitement by preventing the risk of a Chapter 11.
VALUES OF THE DAY
AIG (-1%) announced that it had repaid $ 6.9 billion to the Treasury with the funds received from the sale of its stake in MetLife. The insurer still has $ 11.3 billion to the Treasury. With this payment, the Treasury has now recovered 70% of the 411 billion dollars distributed under the Troubled Asset Relief Program (TARP).
Texas Instruments (-3%), the Dallas firm has adjusted its earnings forecast for the first quarter of fiscal 2011. The management is now targeting EPS between 56 cents and 60 against précédentte a range between 54 and 62 cents. Revenues are now expected between $ 3.34 billion and 3.48 billion dollars against a previous range going from 3.27 to 3.55 billion dollars.
Navistar (4%), Illinois firm that produces commercial and military vehicles, has achieved in the first fiscal quarter ended in late January in a loss of $ 6 million and 8 cents per share, against a profit of $ 19 million a year before. The adjusted EPS was 16 cents. Revenues totaled $ 2.74 billion $ 2.81 billion against $. The consensus was 24 cents EPS and $ 2.9 billion in billings. The Group expects adjusted EPS a year from $ 5 to $ 6 per share.
Dynegy (-3%), the U.S. utility group, said that he could be forced to register under Chapter 11 protection in U.S. bankruptcy law, if he failed to honor its debt repayments from here to the 3rd or 4th quarter. The Group is currently trying to amend or to restructure its existing credit facility of $ 1.8 billion. The Group believes that it may be necessary to opt for the protection of Chapter 11 of bankruptcy code.
Boeing (stable) has informed Air Canada that the delivery of the five first 787 Dreamliner, originally scheduled for the second quarter of 2013, will now take place in the fourth quarter of 2013 and first quarter of 2014. This represents a delay of about five to seven months from the original schedule, says the Canadian company. Boeing said it continues to assess the delivery schedule of the remaining 32 firm orders of 787 for Air Canada, and it will transmit this information to Air Canada as they become available.
American Eagle (+5%), the American retailer of clothing for "teenagers" has announced its fourth fiscal quarter net income improved to $ 87 million and 44 cents per share, against $ 59 million and 28 cents per share, a year before . Revenues on the quarter ended January totaled $ 916 million, against $ 956 million. The 1st quarter of EPS expected between 13 and 17 cents. Q1 sales are hoped for the best stable constant store, or down to -3%. After edging past the consensus Q4, the Group therefore delivers forecasts T1 close to expectations. Finally, the chief executive Jim O'Donnell will bow out at 70.
Orbital Sciences (+6%). The U.S. Department of Defense announced it had awarded a contract for production and analysis on $ 1.1 billion to the Group Orbital Sciences. This contract is valid until 2018.
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