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US midday: Wall Street beats cautious retreat

Date: Monday 30 Jul 2012

US midday: Wall Street beats cautious retreat

Wall Street cautious after last week’s gains
-Apple and Samsung begin court battle

Dow: -0.15%
S&P 500: -0.22%
NASDAQ: -0.41%

US stocks fell slightly on Monday morning as Wall Street appeared to rethink the big gains made last week.

The main driver in the market has been speculation that the European Central Bank will begin buying the bonds of the under pressure nations: Italy and Spain.

But the President of the European Central Bank, Mario Draghi, has yet to convince the head of the Bundesbank, Jens Weidmann, that bond purchases are the answer to Europe’s crisis. The two men are meeting today.

On the domestic front, the US Government is due to release an employment report this week that most observers expect to show a slowdown in recruitment in July.

COMPANIES

JP Morgan has fallen on news of a downgrade from buy to hold by analysts at Deutsche Bank.

Apple shares had gained 1.9% by 12:26 as the company begins a major court battle with rival Samsung over smartphone technology patents. Apple is demanding $2.5bn in damages from the South Korean firm.

S&P 500 - Risers
Roper Industries Inc. (ROP) $103.89 +5.38%
Southwestern Energy Co. (SWN) $34.02 +3.06%
Supervalu Inc. (SVU) $2.05 +3.02%
Franklin Resources Inc. (BEN) $115.06 +2.54%
Newmont Mining Corp. (NEM) $45.46 +2.10%
Range Resources Corp. (RRC) $63.91 +1.95%
Cardinal Health Inc. (CAH) $43.09 +1.77%
Expedia Inc. (EXPE) $55.83 +1.69%
Northeast Utilities (NU) $40.63 +1.68%
Sprint Nxtel Corp. (S) $4.38 +1.62%

S&P 500 - Fallers
Alpha Natural Res (ANR) $6.51 -7.20%
Citrix Systems Inc. (CTXS) $72.93 -6.27%
J.C. Penney Co. Inc. (JCP) $21.77 -5.35%
MEMC Electronic Materials (WFR) $1.82 -4.47%
Tenet Hlthcre Corp. (THC) $4.61 -4.36%
Abercrombie & Fitch Co. (ANF) $35.21 -4.20%
Sears Holdings Corp. (SHLD) $49.68 -4.19%
Loews Corp. (L) $39.98 -4.12%
Avon Products Inc. (AVP) $15.52 -4.02%
Netflix Inc. (NFLX) $56.65 -3.85%

Dow Jones I.A - Risers
Cisco Systems Inc. (CSCO) $15.90 +1.34%
AT&T Inc. (T) $37.47 +0.88%
United Technologies Corp. (UTX) $74.93 +0.87%
Travelers Company Inc. (TRV) $63.26 +0.86%
Coca-Cola Co. (KO) $80.56 +0.69%
Wal-Mart Stores Inc. (WMT) $74.95 +0.58%
McDonald's Corp. (MCD) $89.28 +0.10%
Verizon Communications Inc. (VZ) $44.93 +0.07%
Walt Disney Co. (DIS) $49.96 +0.05%
American Express Co. (AXP) $58.55 +0.03%

Dow Jones I.A - Fallers
JP Morgan Chase & Co. (JPM) $36.27 -1.68%
Home Depot Inc. (HD) $52.95 -1.42%
Merck & Co. Inc. (MRK) $44.51 -1.31%
Hewlett-Packard Co. (HPQ) $18.34 -1.21%
Alcoa Inc. (AA) $8.35 -1.12%
Intel Corp. (INTC) $25.75 -1.04%
Microsoft Corp. (MSFT) $29.50 -0.87%
Caterpillar Inc. (CAT) $85.44 -0.84%
General Electric Co. (GE) $20.75 -0.81%
3M Co. (MMM) $90.99 -0.79%

Nasdaq 100 - Risers
Expedia Inc. (EXPE) $55.83 +1.69%
Apple Inc. (AAPL) $593.95 +1.50%
Staples Inc. (SPLS) $12.65 +1.44%
Cisco Systems Inc. (CSCO) $15.90 +1.34%
Vertex Pharmaceuticals Inc. (VRTX) $49.91 +1.20%
Lam Research Corp. (LRCX) $34.50 +1.05%
Foster Wheeler AG (FWLT) $17.93 +1.01%
VeriSign Inc. (VRSN) $45.83 +0.90%
Gilead Sciences Inc. (GILD) $55.95 +0.81%
eBay Inc. (EBAY) $45.53 +0.70%

Nasdaq 100 - Fallers
Citrix Systems Inc. (CTXS) $72.93 -6.27%
Check Point Software Technologies Ltd. (CHKP) $48.07 -4.47%
Sears Holdings Corp. (SHLD) $49.68 -4.19%
Nll Holdings Inc. (NIHD) $6.80 -3.82%
Sandisk Corp. (SNDK) $40.83 -3.79%
Symantec Corp. (SYMC) $15.45 -3.01%
Marvell Technology Group Ltd. (MRVL) $11.28 -2.88%
Research in Motion Ltd. (RIMM) $7.18 -2.64%
Intuitive Surgical Inc. (ISRG) $486.02 -2.59%
Baidu Inc. (BIDU) $120.61 -2.50%

BS

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