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Equity anlysis-
Us stocks sets back in the midst of Global Financial Crisis Us stock pulled back on last Friday and investor worries over Greece's debt Crisis At the close. the S&P 500 was down 0.5 per cent at 1,159.89, but up 0.8 per cent on the week. On Tuesday, it broke through the 1,150 mark, a key technical level. The Nasdaq Composite was 0.7 per cent lower at 2,374.41, but 0.1 per cent higher since the start of the week. The Dow Jones Industrial Average was 0.4 per cent lower at 10,741.98, up 1 per cent on the week. The Dow had risen for eight consecutive sessions before its rally came to an end on Friday. The health insurance sector was in focus ahead of Sunday’s vote on the $960bn reform bill in the House of Representatives. Over the week, Cigna Corp strengthened 7.2 per cent to $37.08, Aetna was 7.6 per cent higher to $34.46 and UnitedHealth Group rose 4.5 per cent to $34.39. Google fell 1.1 per cent to $560 on Friday and 3.4 per cent over the week as speculation mounted that it was set to withdraw from China . Aircraft manufacturer Boeing, reversed mid-session gains to fall 0.2 per cent to $71.72 after saying it would ramp up production for its 777 and 747 airliners to help meet demand. Palm, a maker of smart-phones, on Friday lost 29.2 per cent to $4 after the company warned that it expected revenues in the current quarter to miss analysts’ estimates because of lacklustre demand for its latest products. The stock has fallen 40.9 per cent in the past 12 months. It was downgraded by at least five brokers. Peter Misek, technology analyst at Canaccord Adams, cut his price target from $4 to zero. “We believe Palm’s troubles will only accelerate as carriers and suppliers increasingly question the company’s solvency and withdraw their support,” he wrote in a note. Electronics retailer Best Buy rallied 1.3 per cent to $40.99 on Friday after the stock was upgraded by Goldman Sachs to “buy” from “neutral”, noting that the stock is trading at one of the lowest multiples in the US hardline retail sector, which excludes clothing. Nike rose 5 per cent to $73.52 over the week after the sportswear company reported strong third-quarter earnings that beat average analyst estimates. Net profits more than doubled and North America sales increased for the first time in four quarters. FedEx strengthened 5.1 per cent to $91.05 over the week after the package delivery group reported solid quarterly results. The company also raised its earnings forecasts. Teva Pharmaceuticals rallied 2.8 per cent to $63.03 during the week on news that the Israel-based generic drugs maker had bought Ratiopharm, Germany’s second-largest generic drugmaker, for €3.6bn ($4.9bn). Medical device maker Boston Scientific Corp gained 0.9 per cent to $7.13 on Friday after a regulatory panel backed its implanted cardiac device for use in patients in early stages of heart failure. The device still requires Food and Drug Administration approval. Lions Gate Entertainment increased 1 per cent to $6.03 on Friday as Carl Icahn launched a hostile bid for the film studio group, offering $6 per share. He currently owns about 20 per cent of the company.