Tuesday, October 20, 2009
U.S. stock market keys off lackluster housing data
U.S. stock market keys off lackluster housing data
With one U.S. stock market gauge of the housing sector up more than
20% so far this year, a fair amount of optimism has crept into builder
stocks. On Tuesday, this sense of optimism takes a hit as housing
starts come in flat for September, deflating builder stocks along with
consumer discretionary shares.
CATERPILLAR TOPS TARGETS; SHARES RALLY 5%
Caterpillar's third-quarter profit falls 53% from the year-ago period, but
results handily beat analysts' estimates.
PFIZER REPORTS 26% PROFIT JUMP, BUT LOWER SALES
Pfizer reports a 26% spike in third-quarter profit, helped by lower
expenses and charges taken in the 2008 quarter for litigation.
UNITED TECHNOLOGIES' QUARTERLY PROFIT FALLS
United Technologies' third-quarter profit falls 17% as the recession
rolls back demand for its elevators, building-security products and
ventilation systems.
DUPONT NET EXCEEDS ESTIMATE, AIDED BY COST CONTROL
DuPont Co. reports that third-quarter net income rose a
stronger-than-expected 11% as tight cost controls helped offset a 20%
drop in sales.
