Market Gazer Hong Kong - Japan - Germany - UK - North America

market review : Europe & U.S. At the moment, Microsoft stood at $23.91 or
down 1.93%.
Stocks in Europe and U.S.
Volkswagen fell further on Monday as the
kicked off the week in the
VDIK industry group reported a decline in
red as DAX fell 77.13
German new car sales fell 18% in September.
points or 1.24% to
VW ended at €76.12, down 3.11%. Other
6,134.21, FTSE 100 slipped
German carmakers were also hammered,
36.93 points or 0.66% to 5,555.97, and the
Daimler tumbled 3.8% to €43.78 and BMW
Dow Jones ended at 10,751.27 or 0.72%.
shed 2.19% to end at €48.22.
Nasdaq Composite fell deeper by 1.11% to
2,344.52 and S&P 500 index stood at 1,137.03
GlaxoSmithKline added its stake
or down 0.8%. The reasons behind the weak
in Convergence Pharmaceuticals
start of this week were ranging from the
Ltd. by as much as 18% with the
rather poor economic data in the US and
Europe, concern over the tightening of total value of $4.7 million. The stakes were
traded with new analgesic compounds and
banking rules in Switzerland, concerns over
also certain equipment and services. GSK
the 3Q results which would be announced
ended at 1,249 pence, down 0.28%.
starting on October 7th, and simply that
investors booked profit from the recent
American Express would fight government’s
positive runs.
allegations regarding an antitrust law over
card-acceptance rules which previously filed –
US factory orders fell 0.5% in August, more
and later settled – against Visa and
than the expected fall of 0.4% and a reverse
Mastercard. The action taken by the company
to prior month’s gains of 0.5%. Pending home
savaged the shares by sending it 6.53% lower
sales rose 4.3%, beating the expectation of a
to end at $39.05.
rise by 2.8%, but still below the prior month’s
reading. Year-on-year, pending home sales
Apple has been started at BUY
jumped 18.4% after it saw a year-on-year
by Ticonderoga. The company
plunge of 20.7% in July.
was also reportedly about to
pay about $208 million on
Goldman Sachs cut
patent infringement, sending
Microsoft’s rating to
the shares to finish the day at 1.37% decline
NEUTRAL from BUY.
Microsoft was also to $278.64.
removed from GS’s
Ford jumped 4.73% to $12.84 as Morgan
favorite buy list. According to the analyst,
Microsoft is facing new risks as tablet Stanley forecast the company’s earnings for
full year 2011 at $2.8 per share. The forecast
computing has become popular. Also, the
was 40% higher than the consensus. Rating
company was advised to increase dividend
further. Microsoft’s target is now $28 per has been assigned as OVERWEIGHT and target
has been set at $20.
share, down from $32. According to Register,
Microsoft has been making secret acquisitions
on 15 companies during the last 12 months. Deutsche Bank advised to SELL
Alcoa shares as the bank doubted

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04 October 2010 Page 1
 Market Gazer Hong Kong - Japan - Germany - UK - North America

the aluminum maker’s 3Q earnings set to be

released later this week. Alcoa was under
pressure on Monday and retreated to $11.92,
or 2.53%.

Amazon.com was rated BUY at Citigroup with

price target raised to $190. Improving online
traffic and spending trends were the reasons
behind the upgrade.

economic data preview 

On Tuesday, the ISM data for non-

manufacturing companies will be released.
The index is expected to show an
improvement from 51.5 to 52.0 in September.
Similarly, PMI for services will be released in
Italy, France, Germany, and Eurozone as well
as in UK. Germany and Eurozone PMI are seen
stagnant at 54.6 and 53.8, respectively, while
Italy, France, and UK are seen to slow for the
period of September. Retail sales for
Eurozone will also due, and the data are seen
to show tiny increase from 0.1% rise in July to
0.2% rise in August (MoM). Year-on-year,
retail sales are seen to show an improvement
from 1.1% to 1.3%.

Disclaimer: This report is provided for information purposes

only. It is not an offer to sell or to buy any securities. This
report has been prepared based on sources believed to be
reliable, but there is no assurance or guarantee regarding its
completeness & and accuracy. The author accepts no
responsibility or liability arising from any use of the report.

E-mail: market.techspeak@gmail.com
04 October 2010 Page 2