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Stock Market Today – Devon Energy (DVN) Wipro (WIT) Qualcomm (QCOM) and Lockheed (LMT) Report

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Lockheed and Devon logos

(Best Syndication News) Stock markets around the world are opening and closing higher Wednesday as traders become more confident (see stock charts below). Improved consumer confidence and a lessening of European sovereign debt fears helped fuel a rally on Wall Street.

The DJIA remained in positive territory throughout the trading day to close at 13,005, the highest level since May 19th 2008. Quantitative easing and a better economic outlook have helped support commodities and equities.

The European Central Bank (ECB) is helping to provide liquidity early Wednesday. The ECB said that 800 banks gobbled-up €530 billion in three year loans. This should provide banks more funds while boosting European bond prices.

Markets in Asia closed mostly higher Wednesday, even before the ECB announcement. The Shanghai (China) composite index closed lower, however the Nikkei 225 (Japan) and the Hang Seng (Hong Kong) advanced.

In Europe, the CAC-40 (France), the DAX (German), and the FTSE 100 (England) are all opening higher. Many of the European banks are advancing. Credit Suisse, Banco Popolare, are both higher, as is Société Générale. Bond yields are also coming down in Italy, Spain, and France.

Large Cap Losers

Only 37 of the 160 stocks in our large-cap index were lower on Tuesday (see the large cap index chart below). Devon Energy Corporation (NYSE:DVN) fell more than 1.5 percent on near average trading volume.

DVN has suffered from low natural gas prices. The stock fell another six cents in the after-hours to $73.92. There was a bid of $73.74 on 700 shares and an ask of 74.07 on 300 shares.

The Indian IT company Wipro Limited (ADR) (Public, NYSE:WIT) was another large-cap loser. A mixed Oppenheimer report last week didn’t provide much confidence. The share price fell more than 2.5 percent Monday and more than one percent on Tuesday.

QUALCOMM, Inc. (NASDAQ:QCOM) fell one percent Tuesday. The digital wireless telecommunications products manufacturer has been lower three straight days. In the after-hours, QCOM is up one cent to $62.69.

Berkshire Hathaway Inc. (Public, NYSE:BRK.A) fell nearly one percent Tuesday, but BRK-A was higher on Monday after the company released their annual report to shareholders over the weekend.

Warren Buffet compared shares of BRK to the S&P 500 in his letter to shareholders. BRK outperformed the S&P two-to-one in 2011. The Oracle of Omaha also disclosed Tuesday that he personally owned shares of JPMorgan Chase & Co. (NYSE:JPM) and admired the Chairman, President and CEO, Jamie Dimon.

Lockheed Martin Corporation (NYSE:LMT) gained Tuesday, although there was a $1.00 dividend paid. Without the dividend, the price would have fallen 71 cents. In the after-hours LMT fell ten cents to $88.60.

American Express Company (NYSE:AXP) was another large-cap loser, falling nearly eight-tenths of one percent. There was a report that an insider sold $14 million in his share of the company. In the pre-market AXP is up one penny to $53.77.

By: Dan Wilson

Large Cap Index Chart:


Tuesday Large Cap
Index
One Day One Day Five Day 30-Day 100-Day
2/28/2012 Name Change % Change % Change % Change % Change
73.98 Devon Energy Corp -1.17 -1.56% -1.04% 16.17% 31.31% 1
13.34 Corning Incorporated -0.18 -1.33% -1.62% -5.72% 5.87% 2
5.37 Nokia Corporation -0.07 -1.29% -3.42% -4.79% -3.76% 3
10.99 Wipro Limited (ADR) -0.12 -1.08% -2.92% 7.64% 18.94% 4
62.68 QUALCOMM, Inc. -0.63 -1.00% 0.21% 9.70% 23.46% 5
119,265.00 Berkshire Hathaway Inc. -1,085.00 -0.90% 0.93% 1.98% 8.32% 6
88.7 Lockheed Martin... -0.71 -0.79% 1.23% 8.65% 22.36% 7
50.65 Emerson Electric Co. -0.40 -0.78% -2.52% 3.26% 17.06% 8
53.76 American Express Co -0.42 -0.78% 1.84% 7.05% 23.84% 9
32.45 Bristol Myers Squibb Co. -0.20 -0.61% 0.68% -3.77% -0.86% 10
               
               
535.41 Apple Inc. 9.65 1.84% 4.36% 26.07% 41.55% 150
33.72 Texas Instruments Inc. 0.61 1.84% 2.31% 8.53% 19.57% 151
44.76 HSBC Holdings plc 0.81 1.84% -0.93% 13.46% 18.70% 152
46.38 China Life Insurance... 0.85 1.87% -0.28% 17.12% 32.25% 153
23.67 Nippon Telegraph &... 0.44 1.89% 0.42% -6.41% 0.55% 154
113.98 China Petroleum &... 2.18 1.95% 0.35% -2.22% 14.64% 155
21.67 ArcelorMittal (ADR) 0.42 1.98% 2.17% 9.72% 28.53% 156
18.16 Banco Bradesco SA 0.43 2.43% 0.00% 3.42% 20.42% 157
22.26 Sony Corporation (ADR) 0.57 2.63% 6.61% 32.74% 18.53% 158
23.83 America Movil SAB 0.64 2.76% 2.67% 6.38% 10.07% 159
183.8 Amazon.com, Inc. 5.27 2.95% 1.78% 1.18% -16.26% 160

World Market Chart:

Tuesday World Stock Indexes 1 Day 1 Day 1 Week 30-Day 100-Day
2/28/2012 N. & S. AMERICA Pt Change % Change % Change % Change % Change
13,005.12 Dow Jones Industrial 23.61 0.18% 0.30% 3.39% 12.90%
1,372.18 S&P 500 4.59 0.34% 0.73% 4.90% 13.66%
2,986.76 NASDAQ Composite 20.60 0.69% 1.30% 7.84% 14.67%
12,740.47 S&P TSX Canada 40.09 0.32% 1.01% 3.35% 5.91%
65,958.78 Brazil Bovespa Stock 717.29 1.10% -0.37% 6.86% 22.51%
38,021.42 IPC MXX - Mexico 235.70 0.62% 0.43% 1.37% 10.30%
823.80 Russell 2000 Sm-Cap -2.86 -0.35% 0.07% 5.72% 17.62%
814.97 Russell 3000 98% Mkt 1.87 0.23% 0.65% 5.23% 14.48%
EUROPE
5,927.91 FTSE 100 England 12.36 0.21% 0.00% 3.96% 8.93%
3,453.99 CAC 40 France 12.54 0.36% -0.32% 5.79% 6.94%
6,887.63 DAX Germany 38.03 0.56% -0.30% 8.39% 14.90%
727.14 Athens Greece Comp. -22.55 -3.01% -8.78% 8.52% -4.31%
858.05 IGBM Madrid Spain -0.99 -0.12% -2.78% 1.88% -5.74%
6,125.09 SSMI - Swiss Market -18.83 -0.31% -1.81% 0.14% 5.95%
17,354.01 FTSE Italia All (Italy) 17.60 0.10% -2.02% 7.76% 2.84%
ASIA & PACIFIC
2,452.29 Shanghai China 5.31 0.22% 2.97% 8.18% 1.33%
9,722.52 Nikkei 225 Japan 88.59 0.92% 2.74% 13.71% 11.26%
21,568.73 Hang Seng Hong Kong 350.87 1.65% 0.42% 9.56% 17.67%
7,959.34 TSEC Taiwan Exchange 0.00 0.00% 0.48% 10.03% 7.82%
4,262.70 S&P ASX 200 Australia -4.70 -0.11% -0.66% 0.81% 1.39%
17,731.12 BSE Sensex Bombay 285.37 1.64% -3.78% 7.78% 4.56%
5,375.50 CNX NIFTY NSE India 94.30 1.79% -4.13% 8.47% 5.41%
2,003.69 Korea Com KOSPI 12.53 0.63% -1.02% 5.88% 10.73%
2969.73 STI Singapore 22.95 0.78% -1.83% 6.24% 8.47%

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