US Stock Market Overview – Stocks Slip on Weak CAT Guidance; Facebook and Microsoft Beat

Stock prices edged lower on Wednesday consolidating the all-time highs seen on Tuesday. Most sectors were lower, led down by Energy, while defensive names in the Utility sector bucked the trend. After the closing bell, Microsoft and Facebook announced better than expected financial results. Soft guidance from Catepillar put downward pressure on the stock. Occidental Petroleum generated a rival bid for Anadarko following Chevrons bid early in the month.

周三股价小幅走低，巩固周二创下的历史高位。大多数行业都处于较低水平，受到能源市场的推动，而公用事业部门的防守名称逆势而上。收盘后，微软和Facebook公布了好于预期的财务业绩。 Catepillar的软指导给股票带来下行压力。西方石油公司在本月初Chevrons出价后对阿纳达科产生了竞争对手。

Occidental Petroleum Generates Rival Bid for Anadarko

西方石油公司为阿纳达科产生竞争对手

Occidental Petroleum generated a counter bid and offered to buy Anadarko Petroleum Corp. for $38 billion, outbidding rival Chevron Corp. who earlier this month made a bid for about $33 billion. The competition for Anadarko, which is poised to generate huge profits in the shale, is creating a bidding war. Anadarko said in a statement Wednesday that its board hasn‘t determined whether it views Occidental’s offer as better than Chevrons.

西方石油公司石油公司出价反对并提出以380亿美元的价格收购阿纳达科石油公司（Anadarko Petroleum Corp.），其竞争对手雪佛龙公司（Chevron Corp.）本月早些时候出价约330亿美元。准备在页岩中创造巨额利润的阿纳达科的竞争正在引发一场竞购战。阿纳达科周三在一份声明中表示，其董事会尚未确定其是否认为西方的报价优于雪佛龙的报价。

Catepillar Shares Tumbled

Catepillar股票大跌

Catepillar shares dropped 3% on Wednesday despite better than expected financial results as the CFO told investors that the company could lose market share in China. The company reported ESP of $2.94 per share versus expectations that the company would earn $2.85 per share. Revenue came in at $13.47 billion versus expectations of $13.40 billion.

Catepillar股价周三下跌3％，尽管财务业绩好于预期，因为首席财务官告诉投资者该公司可能会失去在中国的市场份额。该公司报告ESP为每股2.94美元，而该公司预计每股盈利2.85美元。收入为134.7亿美元，而预期为134亿美元。

Crude Oil Inventories Came in Stronger than Expected

原油库存强于预期

Rising gasoline demand was not enough to buoy crude oil prices which lost ground following a larger than expected increase in crude oil inventories. According to the Energy Information administration, crude oil inventories increased by 5.5 million barrels from the previous week. Additionally, gasoline inventories decreased by 2.1 million barrels last week and are about 2% below the five year average for this time of year. Distillate fuel inventories decreased by 0.7 million barrels last week. Total commercial petroleum inventories increased last week by 8.8 million barrels last week.

汽油需求上升由于原油库存增幅大于预期，原油价格下跌并不足以提振原油价格。根据能源信息管理局的数据，原油库存较前一周增加了550万桶。此外，上周汽油库存减少210万桶，比一年中的这个时间的五年平均值低约2％。上周馏分燃料库存减少了70万桶。上周商业石油库存总量增加了880万桶。

Demand was mixed. Total products demand over the past month averaged 20.2 million barrels per day, down by 1.0% from the same period last year. Over the past month, gasoline demand averaged 9.4 million barrels per day, up by 0.9% from the same period last year. Distillate fuel demand averaged 3.8 million barrels per day over the past four weeks, down by 6.7% from the same period last year.

需求喜忧参半。过去一个月的产品总需求量平均为每天2020万桶，比去年同期下降1.0％。过去一个月，汽油需求平均为每天940万桶，比去年同期增长0.9％。过去四周，馏分燃料需求平均为每天380万桶，比去年同期下降6.7％。

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Both Microsoft and Facebook Beat

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After the closing bell, Microsoft reported better than expected earnings, which pushed the stock price up 2% in the aftermarket. The company reported Azure revenue growth of 73% in the Q3, which was much better than expected. The company reported a bottom line of $1.14 per share compared to estimates that the company would earn $1 per share.

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Facebook reported better than expected top and bottom line but also announced that it would be taking a 3 billion dollar legal expense. Earning per share came in at $0.85 and revenue came in at 15.08 billion compared to revenue of 14.98. Daily active users came in better than expected along with monthly active users. The stock price surge 5% in the aftermarket.

Facebook报告的收益高于预期的顶线和底线但也宣布它会需要30亿美元的法律费用。每股收益为0.85美元，收入为150.8亿美元，而收入为14.98美元。与每月活跃用户一起，每日活跃用户数量超出预期。售后市场股价飙升5％。