Wall Street is misguided

The Dow Jones fell by 0.93% to 9969 points and the Nasdaq Composite yield 1.31% 2144. One of the economic advisers of President Barack Obama, Larry Summers, said on CNBC television, there was no question of limiting the salaries of executives of U.S. companies."What we need are rules on the form and structure of pay so that regulators" can ensure that some do not take unnecessary risks.

On the macroeconomic front, the index of U.S. consumer confidence measured by the University of Michigan has declined against all odds in October to $ 69.4 against 73.5 the previous month, according to provisional figures published friday.

The values to follow

In a statement, Bank of America (-4.20%) announced a net loss of $ 1 billion in the third quarter, mainly due to asset impairments totaling $ 2.6 billion. Moreover, under pressure from the Treasury, Kenneth Lewis, CEO of Bank Bank of America, has waived his salary and his bonus for 2009, before his retirement.A Treasury official, to oversee the compensation of companies that benefited from government aid, had in effect "suggested that Lewis did not receive remuneration for 2009.

Google (3.46%) presented Thursday profit rose 27% to 1.638 billion dollars (1.097 billion), or earnings per share of 5.89 dollars, against the expected $ 5.42 per analysts. The turnover to 5.944 billion dollars is also above market expectations which projected 4.24 billion dollars. The group says the worst of the recession is over. He said now "ready to invest."

IBM (-4.59%) posted a net profit of 3.214 billion dollars in the third quarter up 14% over one year.Per share, earnings from IBM reaches $ 2.40, while the market was expecting $ 2.38.

The conglomerate General Electric (-3.22%) reported Friday quarterly earnings sharply lower but still above analysts' expectations. Net income fell 44% to 2.419 billion dollars (1.62 billion euros), or earnings per share of 27 cents against 20 cents expected by consensus.

Mattel (-3.22%) reflecting a drop in earnings in the third quarter from 3.5% to 229.8 million dollars, in line with expectations. Net earnings per share were 63 cents.

The second largest producer of AMD microprocessors (-5.49%) posted a net loss of $ 128 million for the period July to September.

• The Paris Bourse to increase
• Sanofi-Aventis lowered its forecast for 2010
• Wall Street supported by the results of Alcoa
• Concern mounts to oil markets
• U.S. exchanges to depart downward