Financial News

LONDON (ShareCast) - US indices have lost the majority of their early gains with Nasdaq (NASDAQ: news) falling back into negative territory. They have not sustained the early rises despite good economic news.

The Dow Jones is still 53 higher at 9,766, while the S&P 500 is 6 higher at 1,042. Nasdaq has fallen 1 to 2,044.

Manufacturing activity has risen to its highest level in more than three years. The September manufacturing data was better than expected. US home sales are also picking up.

Motor giant Ford (NYSE: F - news) remains the best performer in the S&P 500. The company reported a profit of nearly $1bn (£611m) for the third quarter thanks to the US government's Cash for Clunkers programme.

It made a profit before tax of $997m, or 29 cents a share, versus a $161m loss, or 7 cents a share, a year ago on revenue down $800m to $30.9bn.

Analysts had expected a loss, excluding special items, of 12 cents for the three months to September. Ford made a profit of $873m, or 26 cents a share, on that basis.

Ford said it has made "tremendous" progress and expects to be "solidly profitable" in 2011.

CIT Group (NYSE: CIT - news) , the US lender to small and medium-sized businesses, has filed for bankruptcy after it approved the filing of a pre-packaged reorganisation plan.

CIT said none of its operating subsidiaries would be affected by the filing, one of the largest in US corporate history, adding that its lending operations will continue to operate.

Kraft Foods (NYSE: KFT - news) is one of the few Dow stocks that is lower as investors wait for third quarter figures tomorrow plus further news of the potential bid for Cadbury (LSE: CBRY.L - news) .

S&P 500 - Risers Ford Motor Co (F) $7.59 +8.43% Manitowoc Co. (MTW) $9.76 +6.78% Varian Medical Systems Inc (NYSE: VAR - news) . (VAR) $43.61 +6.42% Coventry Hlth Care (CVH) $21.00 +5.90% Motorola Inc (NYSE: MOT - news) . (MOT) $8.94 +4.32% BB&T Corp. (BBT) $24.87 +4.02% Southwestern Energy (NYSE: SWN - news) (SWN) $45.31 +3.97% Express Scripts Inc (NASDAQ: ESRX - news) . (ESRX) $82.86 +3.68% Akamai Technologies Inc. (AKAM) $22.80 +3.64% P N C Fin Svcs Gr (NYSE: PNC - news) (PNC) $50.63 +3.45%

S&P 500 - Fallers CIT Group Inc. (CIT) $0.28 -61.78% Dean Foods Co (DF) $16.70 -8.39% M B I A Inc (NYSE: MBI - news) . (MBI) $3.84 -5.42% Citigroup Inc (NYSE: C - news) . (C) $3.90 -4.65% E*Trade Financial Corp. (ETFC) $1.41 -3.42% Sempra Energy (NYSE: SRE - news) (SRE) $49.78 -3.25% Northeast Util (NU) $22.32 -3.17% Huntington Bancshares Inc. (HBAN) $3.69 -3.15% Dynegy Inc (NYSE: DYN - news) . Holdings Co (DYN) $1.94 -3.00% Developers Diversified Reality (DDR) $8.35 -2.79%

Dow Jones I.A - Risers Travelers Company Inc. (TRV) $50.79 +2.01% United Technologies Corp. (UTX (A045880.KQ - news) ) $62.56 +1.81% Du Pont E I De Nemours and Co. (DD) $32.38 +1.76% American Express Inc. (AXP) $35.41 +1.64% Hewlett-Packard Co. (HPQ) $48.15 +1.45% JP Morgan Chase & Co. (JPM) $42.36 +1.41% McDonald's Corp. (MCD) $59.39 +1.33% General Electric Co. (GE) $14.43 +1.19% Wal-Mart Stores Inc. (WMT) $50.26 +1.17% Merck (MERK.JK - news) & Co. Inc. (MRK) $31.29 +1.16%

Dow Jones I.A - Fallers AT&T Inc. (T) $25.35 -1.25% Intel Corp (NASDAQ: INTC - news) . (INTC) $19.00 -0.58% Verizon Communications Inc. (VZ) $29.45 -0.47% Pfizer Inc. (PFE) $16.99 -0.23% Kraft Foods Inc. (KFT) $27.49 -0.09%

Nasdaq 100 - Risers Vertex Pharmaceuticals Inc (NASDAQ: VRTX - news) . (VRTX) $37.71 +12.38% Millicom International Cellular S.A. (MICC) $65.10 +3.86% Express Scripts Inc. (ESRX) $82.86 +3.68% Akamai Technologies Inc. (AKAM) $22.80 +3.64% Illumina Inc. (ILMN) $33.11 +3.14% Warner Chilcott Plc (WCRX) $22.81 +2.98% Foster Wheeler AG (FWLT) $28.79 +2.85% Bed Bath & Beyond Inc. (BBBY) $36.17 +2.73% Joy Global Inc (NASDAQ: JOYG - news) . (JOYG) $51.74 +2.65% Fastenal Company (NASDAQ: FAST - news) (FAST) $35.40 +2.61%

Nasdaq 100 - Fallers Research In Motion Ltd. (RIMM) $55.41 -5.65% Activision Blizzard Inc (NASDAQ: ATVI - news) . (ATVI) $10.55 -2.59% Sears Holdings Corp (NASDAQ: SHLD - news) . (SHLD) $66.93 -1.37% Symantec Corp. (SYMC) $17.38 -1.14% Ryanair Holdings Plc Adr (RYAAY) $26.97 -1.10% Baidu Inc (NASDAQ: BIDU - news) . (BIDU) $374.20 -0.98% Yahoo (NASDAQ: YHOO - news) ! Inc. (YHOO) $15.77 -0.82% Wynn Resorts Ltd. (WYNN) $53.80 -0.77% Intel Corp. (INTC) $19.00 -0.58% Oracle Corp. (ORCL) $21.00 -0.47%