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Hilbroy Advisory: US STOCKS-Wall St drops as Libya, oil concerns weigh
Hilbroy Advisory: US STOCKS-Wall St drops as Libya, oil concerns weigh
A senior aide to Libyan leader Muammar Gaddafi's influential son Saif resigned as an Italian official claimed as many as 1,000 people have been killed in the government crackdown.
Montreal,
Quebec,
Canada
(prbd.net)
24/02/2011
Montreal, Quebec, February 23, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports : U.S. stocks fell for a second day on Wednesday as protests in Libya drove up oil prices, fueling concerns about further unrest in the Middle East.
The S&P 500 slid 2.1 percent on Tuesday, suffering its worst session since August, and analysts said the market's long-awaited pullback may be here. Hewlett-Packard Co cut its 2011 revenue forecast on slipping consumer demand for its personal computers, pushing its stock down almost 10 percent and dragging on the Dow,
Covering short positions helped limit Wednesday's losses, said Chris Burba, short-term market technician at Standard & Poor's in New York. "But odds favor downside in the near term ... The pace of the advance is slowing and that behavior often precedes a consolidation or a downturn," he said.
The S&P 500 has climbed 25 percent since the start of September, when the recent rally began. Oil futures in New York jumped to the loftiest level for front-month crude since Oct. 2, 2008, amid worries over supply disruptions in Libya, a top oil producer.
While higher oil prices often boost energy-sector shares, they usually drag on the overall stock market. Higher energy costs tend to ripple through the economy, pushing up the costs of utilities, manufactured goods and transportation. A senior aide to Libyan leader Muammar Gaddafi's influential son Saif resigned as an Italian official claimed as many as 1,000 people have been killed in the government crackdown.
"Higher oil prices certainly are a concern. That has an impact on real economic activity, but while it is something to monitor, I'm not sure the market has fully incorporated significantly higher prices just yet," said Mike Morcos, senior money manager at Old Second Wealth Management in Aurora, Illinois.
Technology shares led losses after Hewlett-Packard trimmed its revenue forecast late Tuesday, citing weak consumer demand for personal computers and posted a lackluster showing from its services arm. The stock sank 10.2 percent to $43.33.
The Dow Jones industrial average was down 61.11 points, or 0.50 percent, at 12,151.68. The Standard & Poor's 500 Index was down 5.93 points, or 0.45 percent, at 1,309.51. The Nasdaq Composite Index was down 25.11 points, or 0.91 percent, at 2,731.32.
Brent and U.S. crude oil futures gained further ground on worries about supply disruptions as the revolt raged in Libya raged. An energy-sector index rose 2.2 percent and kept the S&P 500's loss in check.
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.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
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.
About
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.
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