Montreal, Canada (PressExposure) April 18, 2011 -- Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Weekly, Market wrap up.
The S&P 500 posted a modest loss as first quarter earnings reporting season kicked off. Earnings results came in mixed, and many companies faced selling pressure despite posting in-line or better-than-expected EPS figures.
Dow component Alcoa (AA) sent earnings season off to shaky start despite the company posting its fourth consecutive EPS beat. Shares of Alcoa came under pressure following a light revenue figure.
Two banking giants posted mixed results. JPMorgan Chase (JPM) topped estimates, while Bank of America (BAC) missed expectations. The financial sector fell 2.0% for the week.
Shares of Google (GOOG) got hammered after the company posted essentially in-line earnings and topped revenue expectations. Higher operating cost appeared to drive the selling efforts, sending shares down 8.2% for the week. The tech sector slipped 1.1%.
The 33 S&P 500 companies that have reported so far have posted sales growth of 7.3% y/y and earnings growth of 38% y/y.
The energy sectors posted the largest decline of 3.1% as crude prices slipped 3.0% to $109.45 per barrel. Even with the decline, energy is the best performing sector year-to-date with a gain of 13.1%.
In economic news, initial jobless claims for the week ended April 9 increased 27,000 to 412,000, worse than the forecast of 385,000.
The coming week brings quarterly results from a bevy of widely held names. The major banks will report, including Citigroup (C), Goldman Sachs (GS) and Morgan Stanley (GS). More than 10 Dow components are scheduled to report, including IBM (IBM), Intel (INTC), and General Electric (GE).
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients' management decisions when seeking
Go Public strategy,
Debt and or equity financing
Identify prospective investors
Hire investor relations firm
Cross listing decisions
Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Jean François Amyot
1400 rue Begin
Montreal, QC H4R 1X1
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.