DJIA Week in Review: Bank of America Earnings, Home Depot Doesn’t React to Positive Data
The Dow Jones Industrial Average (NYSEARCA:DIA) ended the week up 2.4% to 12,720. These shares attracted lots of trading interest on important headlines.
United Technologies Corporation (NYSE:UTX) grabbed a 3% gain, leading the Dow today. United Technologies Corporation got a lot of its profit margins from the Asian region last year, and the belief that China’s monetary policy may ease is helping out.
3M Company Common Stock (NYSE:MMM) announced a strategic business alliance with FiberZone Networks, the leading provider of Automated Fiber Management (AFM) solutions, so 3M can bring an AFM system to the data center market.
DuPont (NYSE:DD): A shortage of corn seed could hamper the 2012 planting season and affect the stock price throughout the year. Analysts are in two camps: they either think the company has huge upside potential, or they think the valuation of the stock is too steep, especially because the company is a cyclical stock, and subject to broader economic changes.
Bank of America Corporation (NYSE:BAC) was up following its Q4 results, but looking at these statistics, not everyone is not convinced. It’s an earnings report for the Wall Street Science Fair, while many analysts couldn’t find enough evidence that that underlying earnings have found new momentum.
JPMorgan Chase & Co. (NYSE:JPM): The government and the major banks may be near a deal on the robo-signing fiasco, and that is helping out players like JP Morgan. Bank of America earnings also added fuel.
American Express Company (NYSE:AXP) didn’t please shareholders with earnings. Some negative news from AXP’s Q4 report: provisions for losses were $409 million vs. last year’s $239 million.
General Electric (NYSE:GE): During the earnings Conference Call, CEO Jeffrey Immelt reiterated the company is unlikely to make any big acquisitions in 2012. The company was on an acquiring spree and already spent $12 billion in 2011. Immelt said the main driver for growth in 2013 will be exhausting an order backlog that currently stands at $200 billion.
Home Depot, Inc.(NYSE:HD): IHS Global predicts homeowners and landlords spent 3.3 percent more on everything from small renovations to full-scale remodeling jobs in 2011, with an additional 5.7 percent growth expected in 2012. The news is no help to Home Depot.
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