Home Business Market News: Boeing, Dow Chemical, Yahoo, Electronic Arts

Market News: Boeing, Dow Chemical, Yahoo, Electronic Arts

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The stock markets in the United States declined after the Federal Reserve maintained its plan to reduce its bond buying program despite the current economic problem in the emerging markets. Investors were also disappointed with the forecasts of certain companies.

Eric Davidson, deputy chief investment officer at Wells Fargo Private Bank told Bloomberg, “The emerging markets have been weak now for quite some time, but the drama has heightened really in the past few days. It would be out of sorts for the Fed to react on such a short-term news development.”

Today, the Federal Open Market Committee (FOMC) stated that the labor market indicators were mixed, but on balance showed further improvement. The FOMC added, “The unemployment rate declined but remains elevated.”

U.S. Markets

  • Dow Jones Industrial Average (DJIA)- 15,738.79 (-1.19%)
  • S&P 500- 1,774.21 (-1.01%)
  • NASDAQ- 4,051.43 (-1.14%)
  • Russell 2000- 1,123.41 (-1.30%)

European Markets

  • EURO STOXX 50 Price EUR- 3,011.45 (-0.89%)
  • FTSE 100 Index- 6,544.28 (-0.43%)
  • Deutsche Borse AG German Stock Index DAX- 9,336.73 (-0.75%)

Asia Pacific Markets

  • Nikkei 225- 15,383.91 (+2.70%)
  • Hong Kong Hang Seng Index- 23,141.61 (+0.64%)
  • Shanghai Shenzhen CSI 300 Index- 2,227.78 (+0.36%)

Stocks in Focus

The Boeing Company (NYSE:BA) declined more than 5% to $129.78 per share after the company issued revenue guidance for the 2014 that is lower than the expectations of Wall Street analysts.  The aircraft manufacturer projected that it will be able to generate revenue in the range if of $87.5 billion to $90.5 billion, which is approximately $2 billion lower than the estimates of analysts.

The Dow Chemical Company (NYSE:DOW) gained 3.88% to $44.73 per share after the company reported strong quarterly profits of $0.65 earnings per share on $14.39 billion revenue. The board of directors of the company approved a 15% increase in dividend to $0.37 per share.

The stock price of Yahoo! Inc. (NASDAQ:YHOO) declined 8.71% to $34.89 per share after the company reported higher-than-expected decline in advertising revenue. The company’s display-ad-revenue declined 6% to $491 million (excluding traffic acquisition cost).

The stock value of Electronic Arts Inc. (NASDAQ:EA) rose 1.47% to $25.22 per share after reporting better quarterly earnings. The company posted $1.26 earnings per share in the third quarter compared with its $0.57 earnings per share in the same period a year ago. Its revenue increased 33% to $1.57 billion.

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