Tuesday, May 3, 2011

Stocks fall in early trade on low incomes (AP)

NEW YORK--the rally of the remuneration of these past two weeks has finally lost some shine. The parade of stronger than expected reports slowed Tuesday after several companies reported low income.

Pfizer Inc., Clorox Co., Molson Coors Brewing Co. and Beazer Homes USA Inc. dropped after the release of the results. Dragged Pfizer shares 2 for cent after that the company has reduced its income expected for 2011. He fell the maximum of all 30 stocks making up the Dow Jones index.

Clorox and Molson Coors each fall 4 percent after they reported lower net income for the same period last year. The manufacturer of consumer products and beverages company blamed most high for materials first decline.

Beazer Homes slipped 2 percent. Manufacturers reported a greater than expected loss because orders for new homes fell, reflecting continued weakness in the housing industry.

Avon Products Inc. - supported by growth in Latin America - had some of the biggest gains in the standard & poor 500 index, rising 6 p. 100. The cosmetics company said its revenues more than tripled.

The Dow Jones industrial average increased 17 points, or 0.1% to 12 825 in trade at the beginning.

The & S P 500 fell a point, or 0.1% to 1 360. The Nasdaq composite index fell by 4, or 0.2%, to 2,860.

Randy Bateman, Chief Investment Officer and Chairman of Huntington Asset Advisors, said some natural weakness after a mainly positive earnings season. Approximately 65 percent of the companies in the S & P 500 reported their results, and the gains are approximately 21% of the same period last year, according to FactSet.

"" We've had such a strong, run hard for the whole of the year in the face of adversity, enormously "Bateman said."Investors will sit a bit and say, "how many other good news is there?" "

The binding of yields of rose, pushing prices lower. Yield on the Treasury 10-year note fell to 3.27% of 3.28% late Monday.

The Government reported that factory orders rose for the fifth month following in March as businesses ordered larger manufactured goods. That was expected by economists.

Later in the day, automakers in the country should report that sales of cars and trucks United States has increased from 19% in April. Americans have probably bought cars in the month because of concerns that the earthquake in the Japan would lead to shortages.

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