US open: Intel cuts revenue guidance

RELATED QUOTES

SymbolPriceChange
GRMN56.11
PLL84.89
^GSPC1,875.39
GLW21.15

LONDON (ShareCast) - The main US equity benchmarks are now trading sharply lower, by over 1% on average. The above following selling pressure on European equities this morning, on the back of some rather negative commentary out from ratings agency Moody's regarding last week's EU summit. Also weighing on sentiment this morning, Stateside, semiconductor manufacturer Intel (NasdaqGS: INTC - news) has just cut its revenue guidance for the fourth quarter. Worth pointing out nonetheless, at first glance the main reason behind that "warning" seems to be related to the company's need to manage inventory levels in the face of component shortages, rather than due to "macro" worries. Semiconductor equipment makers such as Applied Materials (NasdaqGS: AMAT - news) and KLA Tencor (NasdaqGS: KLAC - news) have been caught in the down-draft created by the bell-weather's glum outlook. As far as interesting market commentary is concerned, an article in this week's The Economist magazine highlighting the relatively sanguine prospects for the US economy. Some observers may also be cheered by progress made this past weekend at the global climate change talks in South Africa. The most market-moving company news seems to be a $4bn contract win by defence outfit Lockheed Martin (Dusseldorf: 351011.DU - news) . Climate solutions firm Ingersoll Rand, for its part, has announced a 33% increase in its quarterly dividend. Morgan Stanley (EUREX: DWDF.EX - news) has upgraded shares of aircraft manufacturer Boeing (NYSE: BA - news) to overweight, from neutral. Several companies are expected to join the Nasdaq 100 (Nasdaq: ^NDX - news) , including natural beverage distributor Hansen and Randgold Resources (Xetra: A0B5ZS - news) . MACROECONOMY US budget figures for the month of November (Stuttgart: A0Z24E - news) are to be published at 7PM. OTHER MARKETS Front month West Texas crude futures are now falling 1.33% to the $98.11/barrel mark in NYMEX trading. 10 year US Treasuries are now moving up by 16/32 dollars, with yields at 2.00%. S&P 500 (SNP: ^GSPC - news) - Risers Edwards Lifesciences Corp. (EW) $67.15 +4.06% Netflix Inc (NasdaqGS: NFLX - news) . (NFLX) $71.61 +1.02% Pall Corp (NYSE: PLL - news) . (PLL) $57.12 +0.81% Best Buy Co. Inc. (BBY) $28.31 +0.71% Avon Products Inc (NYSE: AVP - news) . (AVP (Other OTC: AVPI.PK - news) ) $16.68 +0.60% Edison International (NYSE: EIX - news) (EIX) $39.28 +0.59% Republic Services Inc. (RSG) $27.51 +0.40% AutoZone Inc. (AZO) $331.02 +0.36% Humana Inc (NYSE: HUM - news) . (HUM) $87.08 +0.26% Metropcs Communications Inc (NYSE: PCS - news) . (PCS) $8.49 +0.24% S&P 500 - Fallers MEMC Electronic Materials (NYSE: WFR - news) (WFR) $4.07 -7.92% Alpha Natural Res (NYSE: ANR - news) (ANR) $22.01 -6.12% Morgan Stanley (MS) $15.58 -4.88% Cameron International Corp (NYSE: CAM - news) . (CAM (Madrid: CAM.MC - news) ) $50.58 -4.60% AK Steel Holding Corp. (AKS) $8.22 -4.53% Corning Inc (NYSE: GLW - news) . (GLW) $13.17 -4.50% Applied Materials Inc. (AMAT) $10.71 -4.37% Salesforce.Com Inc. (CRM) $118.55 -4.30% Citigroup Inc (NYSE: C - news) . (C) $27.54 -4.28% United States Steel Corp. (X) $26.33 -4.18% Dow Jones I.A - Risers Dow Jones I.A - Fallers Intel Corp. (INTC) $24.03 -3.92% Alcoa Inc (NYSE: AA - news) . (AA) $9.38 -2.71% Bank of America Corp (NYSE: IKJ - news) . (BAC) $5.57 -2.62% Caterpillar Inc (NYSE: CAT - news) . (CAT) $93.50 -2.57% JP Morgan Chase & Co. (JPM) $32.44 -2.23% E.I. du Pont de Nemours and Co. (DD) $44.15 -1.98% Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $18.52 -1.91% Hewlett-Packard Co. (HPQ) $27.37 -1.89% 3M Co. (MMM) $80.87 -1.62% American Express Co. (AXP) $48.10 -1.44% Nasdaq 100 - Risers Flextronics International Ltd. (FLEX) $5.96 +1.02% Teva Pharmaceutical Industries Ltd. ADS (MCX: APDS.ME - news) (TEVA) $40.39 +0.46% Seagate Technology Plc (STX (KSE: 011810.KS - news) ) $16.21 +0.31% Garmin Ltd (NasdaqGS: GRMN - news) . (GRMN) $37.95 +0.13% Nasdaq 100 - Fallers Applied Materials Inc. (AMAT) $10.71 -4.37% Intel Corp. (INTC) $24.03 -3.92% Illumina Inc. (ILMN) $27.33 -3.67% Foster Wheeler AG (FWLT) $18.67 -3.56% KLA-Tencor Corp. (KLAC) $47.36 -3.35% Baidu Inc (NasdaqGS: BIDU - news) . (BIDU) $126.31 -3.23% Nvidia Corp. (NVDA) $14.43 -3.16% PACCAR Inc (NasdaqGS: PCAR - news) . (PCAR) $38.89 -3.02% Sears Holdings Corp (NasdaqGS: SHLD - news) . (SHLD) $55.27 -2.97% Citrix Systems Inc. (CTXS) $69.31 -2.74%