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TMCNet:  Coutts-US MIDDAY: STOCKS MIXED AHEAD OF TECH EARNINGS

[January 22, 2014]

Coutts-US MIDDAY: STOCKS MIXED AHEAD OF TECH EARNINGS

(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 22 January 2014 Release date- 21012014 - US stocks were trading in a 'mixed' fashion come midday Tuesday, as traders returned to their desks after a three-day weekend.

It was a quiet day for financial markets worldwide on Monday given that Wall Street was closed for the Martin Luther King Jr. Day holiday. American investors however were today playing catch-up as regards the similarly somewhat mixed data out of China.

As well, while US markets re-opened as usual on Tuesday volumes 'may still be lower than normal as there's still a lack of data being released', according to Alpari UK Market Analyst, Craig Erlam. 'In fact, we have no significant economic releases from the US until Thursday, leaving traders with only earnings to focus on,' he said.

Lifting sentiment this morning was the International Monetary Fund (IMF) which raised its forecasts for US growth in 2014 as it revised its estimates for global economic expansion slightly higher. US gross domestic product (GDP) is now expected to rise by 2.8% in 2014, up from a previous estimate of 2.6% in October.

However, in 2015 it is only expected to expand by 3%, versus a previous forecast for growth of 3.4%.

Possibly mitigating some of the above, credit conditions in China eased overnight after the People's Bank of China injected more than 255bn yuan into the country's large commercial banks. The central bank said the move is aimed at ensuring the stability of the monetary market ahead of the Lunar New Year holiday later this month.

To take into account as well, traders were anxiously awaiting the latest quarterly numbers due out from the likes of IBM and Texas Instruments, after the close of regular trading.

Verizon falls despite Q4 beat Telecoms giant Verizon Communications erased early gains to fall into the red despite posting fourth-quarter profits that beat analysts' estimates. Earnings per share were $1.76 in the fourth quarter, compared with a loss of $1.48 a year ago on revenues that rose 3.4% to $31.1bn.

Investors were also reacting to the company's announcement that it has purchased Intel's cloud TV business, Intel Media.

Healthcare and consumer products titan Johnson & Johnson also underwhelmed with profits that beat expectations, with earnings rising 37% year-on-year. Profit forecasts for 2014, however, came in below estimates.

Delta Air rose to a 52-week high after surpassing analysts' forecasts with fourth-quarter earnings and giving an upbeat outlook for the current quarter.

Plane maker Boeing gained after receiving an order fromGeneral Electric for 40 planes worth $4bn. GE, meanwhile, was in focus on reports that it is among three potential bidders for oil field services firm Expro.

Smartphone maker BlackBerry surged early on after the US Department of Defense revealed that it will use 80,000 of its devices in a new programme.

Alcoa rose after JPMorgan raised its rating on the US aluminium producer to 'overweight' from 'neutral'. Meanwhile, SolarCity declined after the same bank downgraded the stock to 'neutral' from 'overweight'.

Front month West Texas crude futures were higher by 0.95% to the $94.85/barrel mark in NYMEX trading.

10-year US Treasury yields were flat at 2.82%.

S&P 500 - Risers Alcoa Inc. (AA) $12.27 +7.97% Dow Chemical Co. (DOW) $45.64 +5.97% Zions Bancorporation (ZION) $31.50 +4.44% Vertex Pharmaceuticals Inc. (VRTX) $84.79 +3.29% Gap Inc. (GPS) $38.47 +3.14% Biogen Idec Inc. (BIIB) $306.54 +3.05% Altera Corp. (ALTR) $33.38 +3.02% Facebook Inc. (FB) $57.93 +2.90% Delta Airlines Inc. (DAL) $31.96 +2.86% Keycorp (KEY) $13.92 +2.81% S&P 500 - Fallers Cliffs Natural Resources Inc. (CLF) $21.00 -6.38% Tenet Healthcare Corp. (THC) $45.27 -4.17% Expedia Inc. (EXPE) $67.86 -4.00% Allegheny Technologies Inc. (ATI) $35.06 -3.42% Whirlpool Corp. (WHR) $151.80 -3.21% Sandisk Corp. (SNDK) $71.39 -3.12% TJX Companies Inc. (TJX) $60.22 -2.65% Morgan Stanley (MS) $32.52 -2.63% TripAdvisor Inc. (TRIP) $81.84 -2.46% Verizon Communications Inc. (VZ) $47.26 -2.25% Dow Jones I.A - Risers Coca-Cola Co. (KO) $39.72 +1.13% Unitedhealth Group Inc. (UNH) $73.04 +0.72% Nike Inc. (NKE) $73.92 +0.72% Boeing Co. (BA) $141.43 +0.69% Chevron Corp. (CVX) $119.93 +0.54% United Technologies Corp. (UTX) $114.76 +0.48% McDonald's Corp. (MCD) $95.15 +0.23% Procter & Gamble Co. (PG) $80.05 +0.21% Cisco Systems Inc. (CSCO) $22.78 +0.20% Walt Disney Co. (DIS) $74.06 +0.11% Dow Jones I.A - Fallers Verizon Communications Inc. (VZ) $47.26 -2.25% Goldman Sachs Group Inc. (GS) $172.50 -2.14% Johnson & Johnson (JNJ) $93.19 -1.97% Travelers Company Inc. (TRV) $84.96 -1.75% General Electric Co. (GE) $26.18 -1.50% Intel Corp. (INTC) $25.47 -1.49% Caterpillar Inc. (CAT) $90.14 -1.42% International Business Machines Corp. (IBM) $187.76 -1.23% Wal-Mart Stores Inc. (WMT) $75.42 -1.01% Home Depot Inc. (HD) $80.28 -0.89% Nasdaq 100 - Risers Tesla Motors Inc (TSLA) $176.08 +3.57% Vertex Pharmaceuticals Inc. (VRTX) $84.79 +3.29% Biogen Idec Inc. (BIIB) $306.54 +3.05% Altera Corp. (ALTR) $33.38 +3.02% Facebook Inc. (FB) $57.93 +2.90% Gilead Sciences Inc. (GILD) $80.55 +2.74% Illumina Inc. (ILMN) $139.76 +2.51% Intuitive Surgical Inc. (ISRG) $438.51 +1.95% Equinix Inc. (EQIX) $178.57 +1.54% Apple Inc. (AAPL) $548.66 +1.48% Nasdaq 100 - Fallers Expedia Inc. (EXPE) $67.86 -4.00% Sandisk Corp. (SNDK) $71.39 -3.12% TripAdvisor Inc. (TRIP) $81.84 -2.46% Mondelez International Inc. (MDLZ) $34.51 -2.10% Yahoo! Inc. (YHOO) $39.20 -2.02% Netflix Inc. (NFLX) $324.19 -1.77% Wynn Resorts Ltd. (WYNN) $211.96 -1.73% Tractor Supply Company (TSCO) $72.99 -1.59% Dollar Tree Inc (DLTR) $53.50 -1.51% Intel Corp. (INTC) $25.47 -1.49% (c) 2014 Electronic News Publishing -

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