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This thirtieth trading week of 2012 comes to a close with investors1 sending stocks higher on Friday, betting the European leaders will act to get the region’s debt crisis under control soon. I’m Kristin Bianco, welcome to the “Weekly Market Wrap” for Friday July 27, 2012.
The Dow Jones Industrial Average and the S&P 500 edged higher for the week, but the NASDAQ was about even. Crude oil futures2 are lower for the week, trading around $90 per barrel on Friday afternoon. Gold futures are higher for the week, trading at $1618.40 an ounce in this afternoon trading. In notable economic news this week, manufacturers orders for durable3 goods increased by 1.6% to a seasonally4 adjusted $221.63 billion. Orders for May were revised up to $218.20 billion which is a 1.6% gain over the prior month.
In corporate5 news this week, NRG Energy announced it will buy power producer GenOn Energy in a deal worth $1.7 billion in stock.
United Parcel Service announced that quarterly results missed forecasts and it also cuts its 2012 outlook due to a global uncertainty6. Adjusted earnings7 increased by 7.5% to $1.15 per share versus8 of $1.07 per share in the same period last year. Estimates were for earnings of $1.17 per share. And revenue increased to $13.35 billion, and, but it was below the estimate of $13.7 billion.
JetBlue announced that net income increased to $52 million or 16 cents per share compared to $25 million or 8 cents per share in the same period of last year. Revenue increased 11% to $1.23 billion. The airline said that the gains were due to an increase in business and leisure travel and the profit was the highest second quarter in history.
Delta9 Air Lines said that it lost $168 million or 20 cents per share in the most recent fiscal10 quarter which is down from $198 million or 23 cents per share in the same period of last year. Revenue increased to $9.73 billion from $9.15 billion. The company forecast a return to profitability next quarter.
Sprint11 Nextel announced that it lost $1.37 billion or 46 cents per share compared to 28 cents per share in the same period of last year. Revenue was $8.8 billion versus $8.3 billion last year, and analysts12 had expected $8.727 billion.
This is the Weekly Market Wrap for Friday July 27, 2012. Please join us on Monday for the Week Ahead Market Report. From marketnewsvideo.com, I’m Kristin Bianco.
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1 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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2 futures | |
n.期货,期货交易 | |
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3 durable | |
adj.持久的,耐久的 | |
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4 seasonally | |
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5 corporate | |
adj.共同的,全体的;公司的,企业的 | |
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6 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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7 earnings | |
n.工资收人;利润,利益,所得 | |
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8 versus | |
prep.以…为对手,对;与…相比之下 | |
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9 delta | |
n.(流的)角洲 | |
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10 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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11 sprint | |
n.短距离赛跑;vi. 奋力而跑,冲刺;vt.全速跑过 | |
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12 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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