With Swine Flu all over the media, the markets did trade lower along with bad news from (BAC) and (C) pushed the markets down further. It looks like the dilution of stocks is not going to be just for Citigroup, but also for Bank of America.

One good news today was the fact that consumer confidence rose (slightly) for the first time in 2009. Ofcourse this does not signal a recovery in the markets, but it could signal a flat period before any recovery takes place.


Here is the market summary for Tuesday:

Looking at Wednesday:
Economic Indicator:
7:00AM Weekly Mortgage Applications
8:30AM GDP for Q1-advance.
10:30AM Crude Inventories.
2:15PM FOMC Policy Statement.

Earnings:
Its another monster earnings day with too many companies to list. My follow list is a small portion that I feel can have significant gains.
(ABK), (AMSAF), (ABX), (BAYRY), (BKC), (FUJI), (RCI), (WYE)
(AFL), (DSCM), (FSLR), (HOKU), (LVS), (SBUX),(V)

News to Know:
Airline stocks fell further Tuesday as swine-flu fears hit the sector for a second consecutive session despite new evidence that the industry has hit a revenue bottom. Link.

Dendreon Corp. fell as much as 69 percent and the shares remained halted through the close of trading today even after the biotechnology company said its prostate-cancer drug extended the lives of men. Link.

E*Trade Financial Corp.’s (ETFC) first-quarter loss widened as the online broker sharply raised its loan-loss provision and acknowledged that regulators said it needs to raise additional capital. Link.

The board of I.B.M. raised its dividend by 10 percent on Tuesday and authorized an additional $3 billion worth of share buybacks, underscoring the technology company’s relative strength even in a weak economy. Link.

Happy Investing!

Aman, MBA

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  2. Monday Wrap and Tuesday watch
  3. Tuesday summary, profits during weakness and Wednesday outlook