VANCOUVER, BRITISH COLUMBIA – (April 27, 2011) Clearlease Reports Stocks are seeing modest strength in early trading on Wednesday, adding to the substantial gains posted in the previous session. Buying interest has remained subdued, however, with traders reluctant to make significant moves ahead of the Federal Reserve’s monetary policy announcement.
While the Fed is not likely to announce any major policy changes, traders are likely to pay close attention to Fed Chairman Ben Bernanke’s remarks in his first accompanying news conference.
The modest strength in the markets is partly due to the release of a Commerce Department report showing a much bigger than expected increase in durable goods orders in March.
The report showed that durable goods orders surged up by 2.5 percent in March following a revised 0.7 percent increase in February. Economists had expected orders to increase by 1.9 percent compared to the 0.9 percent drop that had been reported for the previous month.
Excluding a 5.9 percent increase in orders for transportation equipment, durable goods orders still rose by 1.3 percent in March compared to a 0.6 percent increase in February.
On the earnings front, aerospace giant Boeing (BA) is trading higher after reporting first quarter earnings of $0.78 per share on revenues of $14.9 billion. Analysts had expected earnings of $0.72 per share on revenues of $15.13 billion. The company also reaffirmed its 2011 guidance.
Altera (ALTR) is also seeing early strength after the chip maker reported first quarter earnings that rose to $0.68 per share, exceeding the consensus estimate of $0.62 per share. While the company’s sales rose 33 percent to $535.8 million, sales missed the consensus estimate of $536.63 million.
In other corporate news, Johnson & Johnson (JNJ) announced an agreement to acquire Synthes, a manufacturer of bone implants and surgical tools, in a deal valued at $21.3 billion.
Healthcare provider stocks have shown a notable move to the upside in early trading, with hospital operator Universal Health Services (UHS) leading the way higher after reporting stronger than expected first quarter earnings growth.
Wireless, biotech, and banking stocks are also seeing early strength, while weakness has emerged among electronic storage and semiconductor stocks.
The major averages are currently posting modest gains, just above the unchanged line. The Dow is up 8.21 points or 0.1 percent at 12,603.58, the Nasdaq is up 3.48 points or 0.1 percent at 2,851.02 and the S&P 500 is up 0.78 points or 0.1 percent at 1,348.02.
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About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
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