Financial News

LONDON (ShareCast) - US shares have recovered some of their early losses but remain lower on the day.

The Dow Jones is down 39 points at 10,398 and the broader based S&P 500 is four points lower at 1,106. The NASDAQ Composite is 16 points weaker at 2,188.

There was disappointing news about inflation. Consumer price inflation rose by 0.3% in October year-on-year, compared with expectations of a 0.2% rise. Housing starts were down by 10.6% from a year earlier in October compared with a 1.6% rise in September.

Computer aided design software developer Autodesk (NASDAQ: ADSK - news) is the big faller among S&P 500 companies, after fourth quarter earnings guidance disappointed. The company said underlying fourth quarter earnings per share is likely to be 24 cents, versus market expectations of 25 cents.

Salesforce.com was another big faller, for similar reasons. The customer management software firm said fourth quarter earnings per share are likely to be around 14-15 cents, when the market had been expecting an average figure of 15 cents.

Bank of America (NYSE: IKJ - news) has cut its recommendation for Seagate Technology (NASDAQ: STX - news) . The world's largest manufacturer of hard disc drives was a buy but is now forecast to underperform.

Filters maker Pall Corp (NYSE: PLL - news) reported disappointing first quarter sales.

Bank of America was the biggest riser on the Dow after billionaire John Paulson said that the bank's share price will almost double in the next two years as write downs ease off.

Despite the housing starts figures, housebuilder Pulte Homes (NYSE: PHM - news) was wanted after Citigroup (NYSE: C - news) raised its recommendation on the stock from hold to buy and lifted its target price to $12 from $11.

LDK Solar, the Chinese maker of silicon wafers used in solar power cells, advanced after agreeing to sell a 15% stake in its polysilicon plant in Xinyu City, China for $219m. Elsewhere in the sector, First Solar (NASDAQ: FSLR - news) was also shining brighter.

S&P 500 - Risers M B I A Inc (NYSE: MBI - news) . (MBI) $3.84 +10.67% Adv Micro Devices (AMD (NYSE: AMD - news) ) $7.22 +9.06% Slm Corp (NYSE: ISM - news) . (SLM) $11.44 +6.42% Deere Co (DE) $51.74 +5.27% Regions Financial Corp (NYSE: RF - news) . (RF) $5.45 +5.21% Pulte Homes Inc. (PHM) $10.10 +5.21% Pinnacle West Cap (NYSE: PNW - news) (PNW) $34.97 +4.48% Huntington Bancshares Inc. (HBAN) $3.98 +4.46% Certegy Inc. (FIS) $23.52 +4.16% Hartford Fin Svc (HIG) $26.30 +3.67%

S&P 500 - Fallers Autodesk Inc. (ADSK) $24.10 -10.74% Pall Corp. (PLL) $33.08 -4.45% Salesforce.Com Inc. (CRM) $63.01 -3.96% Tenet Hlthcre Corp. (THC) $5.28 -3.47% Micron Technology (NYSE: MU - news) (MU) $7.46 -3.37% Coventry Hlth Care (CVH) $22.89 -3.34% Eastman Kodak Co (EK) $4.13 -3.28% N Y Times Class A (NYT) $9.28 -2.83% Avon Products Inc. (AVP (AVPI.OB - news) ) $35.12 -2.77% Fortune Brands Inc. (FO) $39.39 -2.60%

Dow Jones I.A - Risers Bank Of America Corp. (BAC) $16.22 +2.85% Wal-Mart Stores Inc. (WMT) $53.91 +0.47% General Electric Co. (GE) $16.09 +0.44% McDonald's Corp. (MCD) $63.80 +0.36% JP Morgan Chase & Co. (JPM) $43.31 +0.34% Pfizer Inc. (PFE) $18.00 +0.33% American Express Inc. (AXP) $41.45 +0.22% Home Depot Inc (NYSE: HD - news) . (HD) $27.04 +0.19% Merck (MERK.JK - news) & Co. Inc. (MRK) $34.35 +0.17% Verizon Communications Inc. (VZ) $30.69 +0.13%

Dow Jones I.A - Fallers United Technologies Corp. (UTX (A045880.KQ - news) ) $68.75 -1.69% Hewlett-Packard Co. (HPQ) $50.51 -1.58% 3M Co. (MMM) $77.67 -1.41% Intel Corp (NASDAQ: INTC - news) . (INTC) $20.08 -1.18% Walt Disney Co. (DIS) $30.52 -1.13% Boeing Co (NYSE: BA - news) . (BA) $52.01 -0.99% Cisco Systems Inc (NASDAQ: CSCO - news) . (CSCO) $23.86 -0.95% Du Pont E I De Nemours and Co. (DD) $35.07 -0.63% Kraft Foods Inc. (KFT) $27.47 -0.62% Coca-Cola Co. (KO) $56.60 -0.48%

Nasdaq 100 (NASDAQ: news) - Risers Steel Dynamics Inc. (STLD) $16.68 +1.83% Patterson Companies Inc (NASDAQ: PDCO - news) . (PDCO) $26.11 +1.26% Millicom International Cellular S.A. (MICC) $74.34 +0.81% First Solar Inc. (FSLR) $124.89 +0.73% Staples Inc (NASDAQ: SPLS - news) . (SPLS) $22.92 +0.56% Cephalon Inc (NASDAQ: CEPH - news) . (CEPH) $59.99 +0.55% Check Point Software Technologies Ltd. (CHKP) $32.95 +0.40% Nii Holdings Inc (NASDAQ: NIHD - news) . (NIHD) $29.52 +0.34% Ross Stores Inc. (ROST) $45.68 +0.20% Express Scripts Inc (NASDAQ: ESRX - news) . (ESRX) $86.21 +0.14%

Nasdaq 100 - Fallers Autodesk Inc. (ADSK) $24.10 -10.74% Echostar Communications Corp. (DISH) $19.90 -10.16% Illumina Inc. (ILMN) $29.28 -6.33% Seagate Technology (STX (011810.KS - news) ) $16.36 -4.77% Cerner Corp (NASDAQ: CERN - news) (CERN) $78.01 -2.56% Nvidia Corp. (NVDA) $13.38 -2.55% Lam Research Corp (NASDAQ: LRCX - news) . (LRCX) $35.83 -2.53% Comcast Corp. (CMCSA) $15.15 -2.35% Research In Motion Ltd. (RIMM) $60.04 -2.21% Vertex Pharmaceuticals Inc (NASDAQ: VRTX - news) . (VRTX) $39.66 -2.17%