Again on Wall Street the situation, when growing oil quotations put powerful pressure upon the stock market, is kept, and positive quarterly reports of the largest American companies promote growth of investors’ optimism.
So, on a background of positive quarterly report Google Inc. shares on Wall Street opened with growth on Friday. We shall remind that Google Inc. net profit in 1 quarter was up 60 % to $592 million, or $1.95 per a share in comparison with $372 million, or $1.29 per a share the same period of the last year.
The proceeds have exceeded analysts’ forecasts and grew 79 % on a background of rise of a market share of the company. So the proceeds made $2.25 billion whereas experts forecast proceeds at a rate of $2.05 billion up to $2.24 billion
And except for lump sum payments the profit per a share made $2.29 whereas analysts forecast only $1.98 per a share.
Taking into account the importance of growth of the company’s shares some experts have declared that Google advance can raise all technological sector.
Besides Bank of New York net profit in the first quarter was up 11 % to $422 million, or 55 cents for a share from $379 million, or 49 cents for a share a year earlier. We shall notice that the average forecast of the analysts, surveyed by Thomson Financial, made 54 cents.
The proceeds in the form of commission charge rose 13 % up to $1.33 billion due to growth of a turnover of the tenders of securities. Thus the volume of the securities, being on depositary in BONY, were up 14 % to $11.3 billion that made the bank the second in the world after JPMorgan, having $11.7 billion in custody.
Also positive impulse Wall Street felt after the publication of quarter results of the American company 3M Co.
So, the company’s profit in the first quarter grew owing to high indicators of some divisions. The net profit for the accounting period raised up to $899 million, or $1.17 per a share against $771 million, or 97 cents per a share a year earlier.
Thus experts forecast that on the average the profit would make $1.16 per a share. Sales increased 8.3 % up to $5.60 billion from $5.17 billion a year earlier at forecasts of $5.58 billion.
The company predicts that the profit per a share in the second quarter will make $1.14-1.17, and on results of year - $4.55-4.65.
However then during the tenders the situation started to change - high oil prices still put pressure upon the markets. We shall remind that on Friday at the tenders in Asia oil prices reached a new maximum - June futures for oil WTI grew up to $73.50 for barrel.
Experts, analyzing a current situation, suppose that oil prices keep potential of the further growth. So, for example, expectations of fuel deficit in the market of the USA, which were caused by prohibition to use methyl-tributyl gasoline additive, which should be replaced by ethanol, since May, 1st.
The investors’ anxiety is also caused by statements of representatives of the governments of leading oil-producing countries. Thus yesterday minister of power of Iran declared that OPEC was glad with high oil prices. And authorities of Venezuela declared that the price for barrel can reach $100.
As a result Dow-Jones index of New York stock exchange fell 4.89 points and is at a level 11338.00. NASDAQ index dipped 24.25 points and is at a level 2338.30. S&P 500 index was down 2.96 points and is at a level 1308.50.
And 30-year U.S. Treasury notes decreased 0.027 in comparison with the previous closing and makes 5.110.
As a result we recommend to wait for descending correction of key stock indexes. Only after its end there are possible next purchases of futures for indexes.
