Financial News

LONDON (ShareCast) - US shares have recovered part of their earlier loss but remain well down following disappointing news about US GDP growth.

Revised growth figures showed the US economy grew 2.8% in the third quarter, and not 3.5% as was previously indicated.

This led to speculation that growth is slow enough not to warrant interest rate rises which sent US bonds higher.

The S&P/Case-Shiller house price index for 20 cities rose by 0.27% in September on a seasonally adjusted basis, after advancing 1.13% in August.

Across the markets the major indices remain lower but above their low for the day. The Dow Jones Industrial Average is down 44 points at 10,406 while the broader based S&P 500 index is 3 points lower at 1,103. The NASDAQ Composite is 11 points weaker at 2,165.

Shares in JPMorgan Chase and Bank of America (NYSE: IKJ - news) fell after rating agency Standard & Poor's said that nearly all of the world's big banks are weakly capitalised. There are also worries that Chinese banks may need to raise cash and their share issues could mop up billions of dollars from the market.

Utah-based lender Zions Bancorporation (NASDAQ: ZION - news) is the worst performer on the S&P 500 after Citigroup (NYSE: C - news) advised investors to sell.

Shares in computer supplier Hewlett-Packard fell despite positive quarterly figures. Management says that the economy remains challenging.

The top performer among first-liners is chip-maker Analog Devices (NYSE: ADI - news) , after it said underlying earnings per share in its first quarter are expected to be no lower than 36 cents, versus market expectations of 28 cents.

Also going well is medical technology firm Medtronic (NYSE: MDT - news) after it announced a 59% increase in quarterly profit on the back of strong sales of a new heart stent and diabetes monitoring equipment.

S&P 500 - Risers Analog Devices (ADI) $29.78 +6.59% Medtronic Inc. (MDT) $42.42 +5.22% Ciena Corp (NASDAQ: CIEN - news) . (CIEN) $12.55 +4.57% Boston Scientific Corp (NYSE: BSX - news) . (BSX) $8.53 +4.53% St. Jude Medical (STJ) $36.26 +3.56% Natl Semiconductor (NSM) $14.27 +3.33% Watson Pharmaceutcls (WPI) $36.71 +3.26% People's United Financial Inc. (PBCT) $16.50 +2.93% Regions Financial Corp (NYSE: RF - news) . (RF) $5.84 +2.64% Prudential Fincl Inc (NYSE: PRU - news) . (PRU) $50.11 +2.10%

S&P 500 - Fallers Zions Bancorporation (ZION) $13.45 -4.77% Lennar Corp. Class A (LEN) $13.08 -4.18% Apt Inv & Mngmnt Co (AIV) $13.06 -3.97% Sprint Nxtel Corp. (S) $3.75 -3.85% Jabil Circuit Inc (NYSE: JBL - news) . (JBL) $13.46 -3.37% Radioshack Corp (NYSE: RSH - news) . (RSH (R04.SI - news) ) $18.39 -3.16% Qlogic Corp (NASDAQ: QLGC - news) . (QLGC) $18.49 -2.99% Office Depot Inc. (ODP) $6.28 -2.94% Interpublic Group (IPG) $6.55 -2.89% Fifth Third Bancorp (NASDAQ: FITB - news) (FITB) $9.89 -2.75%

Dow Jones I.A - Risers Verizon Communications Inc. (VZ) $31.75 +1.36% General Electric Co. (GE) $16.19 +1.06% AT&T Inc. (T) $26.98 +0.73% Intel Corp (NASDAQ: INTC - news) . (INTC) $19.46 +0.31% Johnson & Johnson (JNJ) $62.83 +0.22% Wal-Mart Stores Inc. (WMT) $54.78 +0.19% Exxon Mobil Corp (NYSE: XOM - news) . (XOM) $75.83 +0.17% Home Depot Inc (NYSE: HD - news) . (HD) $27.53 +0.07%

Dow Jones I.A - Fallers JP Morgan Chase & Co. (JPM) $42.39 -2.06% Hewlett-Packard Co. (HPQ) $50.06 -1.88% Alcoa Inc (NYSE: AA - news) . (AA) $12.83 -1.76% Boeing Co (NYSE: BA - news) . (BA) $51.84 -1.49% Bank Of America Corp. (BAC) $16.13 -0.98% Merck (MERK.JK - news) & Co. Inc. (MRK) $36.08 -0.93% Pfizer Inc. (PFE) $18.36 -0.92% American Express Inc. (AXP) $41.25 -0.91% United Technologies Corp. (UTX (A045880.KQ - news) ) $68.16 -0.83% Kraft Foods Inc. (KFT) $27.12 -0.80%

Nasdaq 100 (NASDAQ: news) - Risers Illumina Inc. (ILMN) $27.80 +4.91% Hologic Inc (NASDAQ: HOLX - news) . (HOLX) $14.65 +2.59% Microchip Technology Inc. (MCHP) $26.26 +1.55% Warner Chilcott Plc (WCRX) $23.58 +1.42% DIRECTV Class A (DTV) $32.00 +1.30% Linear Technology Corp (NASDAQ: LLTC - news) . (LLTC) $27.17 +1.27% Echostar Communications Corp. (DISH) $20.60 +1.15% Cephalon Inc (NASDAQ: CEPH - news) . (CEPH) $54.99 +0.97% Verisign Inc. (VRSN) $22.21 +0.86% Biogen Idec Inc (NASDAQ: BIIB - news) . (BIIB) $47.09 +0.64%

Nasdaq 100 - Fallers Liberty Global Inc (NASDAQ: LBTYA - news) . Series A (LBTYA) $20.09 -2.62% Dell Inc (NASDAQ: DELL - news) . (DELL) $14.43 -2.41% Ryanair Holdings Plc Adr (RYAAY) $26.14 -2.24% First Solar Inc (NASDAQ: FSLR - news) . (FSLR) $118.83 -2.13% Autodesk Inc (NASDAQ: ADSK - news) . (ADSK) $23.86 -2.03% Millicom International Cellular S.A. (MICC) $76.01 -1.99% Paccar Inc (NASDAQ: PCAR - news) . (PCAR) $38.18 -1.95% Oracle Corp. (ORCL) $22.17 -1.91% CA Inc. (CA) $22.13 -1.86% Foster Wheeler AG (FWLT) $31.67 -1.80%