Author: FX_Trdr

Intel Corporation, the world’s largest maker of semiconductors, appears to be not very good at predicting its earnings. The company just slashed its third quarter sales forecast, and withdrew its forecast for the full year. Intel now estimates that its third quarter sales will be between $12.9 billion and $13.5 billion, much lower than the previously predicted $13.8 billion to $14.8 billion. The company will announce new full-year projections along with its third quarter reports on October 16th. The chipmaker blamed this decrease on the declining demands for personal computers, as well as demand for corporate customers. Intel previously reduced its sales forecast back in July.

While the August jobs report in the US fell below expectations, Canada’s beat expectations. The Canadian economy added a net total of 34,300 jobs for the month of august, beating estimates of 10,000 according to the AP.The number is deceptive though, as the same source reports that only part-time jobs were added to the economy. 46,700 part-time jobs were added, while 12,500 full-time positions were lost. Even with these non-full-time gains, the Canadian unemployment rate remained at 7.3%.Interestingly, The AP also reports that a majority of the job losses from July and gains from August occurred in the Quebec region of the nation.

From Fnno.com this is the financial news network. America only added 96,000 jobs in August, well below the expected 130,000. Major indexes stayed relatively flat as we approach the end of this week. US Treasuries rallied slightly on the back of some safety seeking trades and the 10yr yield is sitting at 1.65 handle. Given the job report, quantitative easing looks more likely and in response to that expectation, USD became weaker against all major currencies. We all agree that QE3 will boost equities and damage the dollar, but really there isn’t much the Fed can do going into their meeting next Wed. Gold price rallied more than 2% to 1738, which is the highest it has been the past 6 months. For more news and updated, keep it right here at the Financial News Network, I’m Julia Sun. Find us on twitter @FNNOnline

This holiday shortened thirty sixth trading week of 2012 comes to a close with analyzing fresh jobs data that and hoping that the weak report would spur the Federal Reserve to act. Hi.

Apollo (APOL) was downgraded by Deutsche Bank (DB) to sell from hold with a price target of $25 as the company is facing increased competition. Shares are lower by about seven tenths of a percent.

Turning today to week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, the largest outflow was seen in the iShares MSCI Japan Index Fund (EWJ), which shed 12,000,000 shares, or a 2.3% decrease week over week. And on a percentage change basis, the ETF with the largest outflow was the Retail ETF (RTH), which lost 600,000 of its shares, for a whopping 68.8% decline in outstanding shares.

The Daily Ticker’s Aaron Task interviews Sterne Agee market strategist Sharon Stark and UBS economist Maury Harris

In trading on Friday, non-precious metals & non-metallic mining shares were relative leaders, up on the day by about 3%. Leading the group were shares of Mechel Oao (MTL), up about 8.6% and shares of Cliffs Natural Resources (CLF) up about 8.3% on the day.

Computer chip giant Intel (INTC) announced that revenue for its third quarter will be below analyst estimates. Expectations for the quarter are revenue of$13.2 billion, plus or minus $300 million.

Nokia (NYSE:NOK) unveiled two new smartphones yesterday, the Nokia Lumia 920, and the Nokia Lumia 820. The new devices were the most powerful yet from the company, with Windows Phone 8 software and the ability to charge wirelessly, but investors gave them a big thumbs down. By the time the markets closed yesterday, Nokia stock had dropped 15.9% to settle at $2.38, down from its opening price of $2.89. In an effort to arrest stock losses, Nokia announced that they would cut prices on older phones operated by the company. But that doesn’t seem to be helping too much. In today’s trading, the stock is only continuing to plunge. For more on the latest business news, follow us on Twitter @FNNOnline, or check out our website at fnno.com.