HP drags down Dow Jones average in early trade

NEW YORK - Tech giant Hewlett-Packard dragged the Dow Jones industrial average lower trade early Tuesday.

Hewlett Packard Co., society of greater technology of the world by revenue, said pink in the most recent quarter of profits. But a leak memo to the CEO of the company, cautioning against a quarter rough, eclipsed the most recent quarter. HP lowered its Outlook for earnings for the rest of the year Tuesday, expecting more weak personal computer sales. The company has also carried out by the earthquake in the Japan and restructuring in its services business is dragging. HP stock fell more than 6%, more than any other company in the Dow average.

Home Depot Inc. and Wal-Mart Stores Inc., two other members of Dow, reports also on Tuesday. Wal-Mart said its profit rose by 3% in the first quarter, but sales at stores open at least a year fell for the eighth quarter in a row. Wal-Mart stock fell by 1%.

It was a story similar to Home Depot. Sales also slippery. But net income jumped 12 percent in the first quarter, beating analysts expectations. Home Depot has increased by more than 2%.

The Dow Jones index fell 48 points, or 0.4 per cent to 12,500 in morning trade. The standard & poor 500 index dropped by 2 points to 1,328. The Nasdaq composite dropped 8 points, or 0.3%, to 2,773.

A batch of economic reports also raised concerns about the strength of the economy. The Federal Reserve said factories U.S. produce fewer goods for the first time in 10 months. New housing construction plunged in April, according to the Ministry of trade. The apartment building collapsed more than 28%.

A bumpy ride for the technology sector and renewed concerns about Europe's debt more dragged stocks lower Monday. Finance Ministers European approved 110 billion dollars in loans to rescue the Portugal, but have not yet decided on a second rescue of the Greece plan.

Even with a majority of companies more strong gains in statement, US stock market lost some of its momentum in the course of the past few weeks. Concerns are more in that high gas prices will weigh on the expenditures of consumption economy, pinch, cut the profits of the business.

The three major stock indexes are down more than 2% this month following a start to the Fort of the year. The Dow Jones index is 8 per cent. The & S P 500 is an increase of 5.6%.

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.