U.S. Market Remain Volatile As Investors Remain Skeptical On Economic Growth; Hot Stocks Of The Day: HRL, PFE, JASO, HPQ, CPB

The U.S. market traded in a volatile note during the mid-day session as persistent concerns over Europe and a weaker reading on economic growth kept investors on edge.

The Dow Jones industrial average fell 0.15 percent or 17.71 points to trade at 11,529.60. The Nasdaq Stock Market Inc. composite index slipped 0.58 percent or 14.47 points to trade at 2,508.17. The Standard & Poor's 500 index was down 0.61 percent or 7.24 points to trade at 1,186.03. Among other major indices, the New York Stock Exchange composite index lost 0.68 percent or 48.64 points to trade at 7,085.83. The American Stock Exchange composite index was down 0.48 percent or 10.45 points to trade at 2,177.41.

Hot Stocks of the Day: HRL, PFE, JASO, HPQ, CPB

Homel Foods Corp. (NYSE: HRL) reported 3 percent decline in its fiscal 2011 fourth quarter net profit to $117.3 million, or $0.43 per share, that's down from $121.1 million, or $0.45 per share, a year earlier. But the results beat the $0.42 per share that analysts forecasted. Revenue edged up 2 percent to $2.1 billion from $2.06 billion but missed Wall Street's $2.13 billion estimate. Shares of HRL added 0.97 percent, or $0.28, to trade at $29.11.

Pfizer Inc. (NYSE: PFE) agreed to acquire privately owned biopharmaceutical company Excaliard Pharmaceuticals Inc., which focuses on developing drugs to treat skin scarring, as the pharmaceutical giant looks to boost its product pipeline. Shares of PFE were down 0.16 percent, or $0.03, to trade at $18.93.

JA Solar Holdings Co., Inc. (Nasdaq: JASO) announced operating loss of 2011 was $43.3 million in its FY 2011 Q3, compared with operating income of $104.9 million in the third quarter of 2010. Loss per diluted ADS in the third quarter of 2011 was $0.36, compared with earnings per diluted ADS of $0.49 in the third quarter of 2010. Analysts had estimated a net loss of $0.02 per ADS for the company. Revenue in the third qu! arter of 2011 was $388 million, a decrease of 31.6 percent from $567.4 million reported in the third quarter of 2010. Shares fell 2.63 percent, or $0.04, to trade at $1.48.

Hewlett-Packard Co. (NYSE: HPQ) posted a net profit of $239 million, or $0.12 a share in its FY 2011 Q4, down from $2.54 billion, or $1.10 a share, earned in the final three months of fiscal 2010. Quarterly revenue fell to $32.12 billion from the prior year's $33.28 billion.

On an adjusted basis, income for the latest quarter would have been $1.17 a share. Analysts had been looking for HPQ's earnings to come in at $1.13 a share on revenue of $32.05 billion. Shares of HPQ were down 4.10 percent, or $1.10, to trade at $25.76.

Campbell Soup Co. (NYSE: CPB) said on Tuesday that its first-quarter profit slipped to $265 million, or $0.82 a share, compared with $279 million, or $0.82 a share a year ago. Revenue for the quarter was $2.16 billion, compared to $2.17 billion a year ago. Analysts had expected the firm to earn $0.79 a share on revenue of $2.21 billion. Shares fell 2.44 percent, or $0.82, to trade at $32.79.

Currencies and Commodities:

In the world of currency, the US dollar gained 0.12 percent against the Japanese yen, and 0.05 percent against the British pound. The dollar lost 0.26 percent against the euro.

Commodities traded in a positive note today with oil adding 0.82 percent to trade at $97.71 per barrel. Gold prices were down 0.17 percent to trade at $1,675.40 per ounce. Among major indices, the DJ-UBS Commodity rose 0.74 percent, and the Reuters-Jeffries CRB gained 0.46 percent.

Global Market:

The European markets traded in a mixed note today following the failure of lawmakers in the U.S. to reach an agreement on spending cuts. Great Britain's FTSE 100 rose 0.31 percent or 16.34 points to 5,238.94. France's CAC40 added 0.30 percent or 8.72 points to 2,903.66. However, ! Germany' s DAX was down by 0.27 percent, or 15.08 points to 5,590.92.

In the Asian market, China's Shanghai Composite closed lower by 0.10 percent, or 2.50 points to 2,412.63. Hong Kong's Hang Seng rose 0.14 percent or 25.74 points to 18,251.59. Japan's Nikkei 225 was down 0.40 percent or 33.53 points to close trading at 8,314.74. India's BSE 30 Sensex rose 0.75 percent or 119.32 points to close at 16,065.42.

Sector Scan:

The basic materials sector emerged as the market's best performing sector by the afternoon session after adding 0.51 percent during the session. Among major movers in the sector, Ultrashort Basic Materials ETF (NYSEArca: SMN) fell 0.96 percent or $0.20 to trade at $20.43. Dow Jones U.S. Basic Materials ETF (NYSEArca: IYM) was up 0.60 percent or $0.38 to trade at $63.43. Among major stocks, shares of Mosaic Co. (NYSE: MOS) rose 0.13 percent or $0.07 to trade at $53.22. Shares of CF Industries Holdings, Inc. (NYSE: CF) gained 1 percent or $1.50 to trade at $150.85. Shares of Stillwater Mining Co. (NYSE: SWC) were up 1.69 percent or $0.17 to trade at $10.25.

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