Monday, April 27, 2009

Wall Street Dropped At The Opening, But Recovered Again After It (April 27, 2009)

U.S. Stock market was opened lower due to investors' worry about swine flu. But the market increased again immediately after General Motor's plans to cut its jobs, Qualcomm Inc fiscal second-quarter and Verizon first quarter circulated in Wall Street.

The swine flu's virus was estimated as the cause of more than 100 deaths in Mexico. U.S. and Canada were also shocked by that virus, but not as severe as in Mexico. Beside that, in Europe, Spain also said that its country was infected.

After focused on the swine flu issue, investors were switched their focus on GM and technology sector. General Motor said that it will cut 21.000 jobs by next year and eliminate Pontiac. Qualcomm announced its first quarter loss ($289 million) but it raised its full-year revenue target. Verizon said that it earned $3.21 billion (58 cents per share), higher than its last year first quarter earnings. These news have lifted Wall Street again...

Stay alert!


Twitter Delicious Facebook Digg Stumbleupon Favorites More

Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Free Samples By Mail