Market Overview: NYSE 2011, wk.

16
Highlights:
 During the week 16 NYA index raised by 1.24%
 Melco Crown Entertainment Ltd.(MPEL) increased in stock price by
9.17%
 Xerox Corp. (XRX) lost 4.75% of its share value this week

Week 16 was untraditionally short due to the Easter holidays, so New York Stock Exchange was
open only four days and closed the trading week on Thursday. NYA index after a fall last week
started at level of 8 400.31 points this Monday, having a rapid downfall and afterwards recovering
and increasing the value throughout the week 16, reaching 8 504.36 points as closing value on
Thursday. The total gain in value accumulated in 1.24%. In general, the market has recovered after
0.99% decrease last week.

Chart 1: NYA (NYSE Composite index) change during week 16. Source: finance.yahoo.com

The same tendencies can be observed in S&P 500 (GSPC) and Dow Jones Industrial Average
(DJI) indices. An increase of 1.34% and 1.33% respectively can be monitored there. The trading
volume in NYSE was only 15, 933, 560, 000 USD this week, that is only 3 983 390 000 USD per
day, which is far below the average volume for the last three months of 5,873,480,000 USD.

1 Market Overview is not an advice. Neither authors nor iFund or other representatives are liable for possible use of information contained in
it. Relatively reliable public information (Exchanges websites, Bloomberg, Reuters, etc) was used to produce this Market Overview.
Market Overview: NYSE 2011, wk. 16

Chart 2: NYA (NYSE Composite index), DJI (Dow Jones Industrial Average) and S&P 500 (GSPC) change
during week 16. Source: finance.yahoo.com

The best performer of the week 16 was the second best gainer of week 15, namely Melco Crown
Entertainment Ltd. (MPEL) with a 9.17% increase in share price. The list of top companies was
followed by Intel Corporation (INTC) with 8.67% rise in market value and Micron Technology
Inc. (MU) which went up by 7.16%. Conversely, the biggest looser of the week was Xerox Corp.
(XRX) which lost 4.75% of its stock price. Wells Fargo & Company (WFC) was the second
worst performing company, having a 4.52% decline in its market value.
Week 16 biggest loser, Xerox Corporation (XRX) is a $22 billion leading global enterprise for
business process and document management. The company started the week with a price of 10.73
USD per share, ending with a closing value of 10.22 USD on Thursday. The big change in
company’s stock prices, which took place on 20th and 21st of April, was most likely connected with
a publication of company performance results for the first quarter of 2011. As company had
announced that the report would be available before the market opens on April 21, 2011, stock
prices increased rapidly: by 2.8% during one night. It might reflect optimism of investors. Also
during 20th of April prices were still rising. However, instantly after the report was published -
prices collapsed. Report showed a first-quarter revenue of nearly $5.5 billion and includes adjusted
earnings per share of 23 cents. This information could not be seen as sign of weak result as
company continually improves its financial performance. Although, the expectations could have
been higher and shareholders might not be fully satisfied with such growth rates as, for instance in
previous year’s fourth quarter Xerox earned a profit of 29 cents per share which is 6 cents per share
higher than this year, thus the decline in market value followed.

2 Market Overview is not an advice. Neither authors nor iFund or other representatives are liable for possible use of information contained in
it. Relatively reliable public information (Exchanges websites, Bloomberg, Reuters, etc) was used to produce this Market Overview.
Market Overview: NYSE 2011, wk. 16

Chart 3: XRX change during week 16. Source: finance.yahoo.com

The top-gainer of week 16, Melco Crown Entertainment Ltd. (MPEL), an owner and developer
of casino gaming and entertainment resort facilities that are focused on the rapidly expanding
gaming market found in Macau (China).

Chart 4: MPEL change during the week 16. Source: finance.yahoo.com

3 Market Overview is not an advice. Neither authors nor iFund or other representatives are liable for possible use of information contained in
it. Relatively reliable public information (Exchanges websites, Bloomberg, Reuters, etc) was used to produce this Market Overview.
Market Overview: NYSE 2011, wk. 16
The opening stock price this Monday was 9.16 USD per share and already that day it skyrocketed
until the level of 9.61 USD. The positive tendency followed on until the end of the week,
accumulating in price of 10.0 USD which was the closing value for both Wednesday and Thursday,
so share has reached its peak in week 16, with a 9.17% gain. The reason for raise in the market
value could be that on Monday, April 18th the Macau’s First-quarter gaining revenues were
published. The data provided there is very promising, as the total revenue for the first quarter has
increased from 41,248 (in 2010) to 58,835 (in 2011), measured in millions of Macau Patacas. The
gaming and entertainment resorts market in general is going up and MPEL is performing better than
its main competitors, so no surprise - the price value of MPEL is rising.

The second follower of best performer was Intel Corporation (INTC), an American global
technology company and the world's largest semiconductor chip maker. This week was very
surprising for investors as on the 20th of April share prices rose for astonishing 7.8% in only one
night. All the other time during the week prices were increasing slowly, but constantly.

Chart 5: INTC change during week 16. Source: finance.yahoo.com

Such a rapid increase in share prices during one night can be explained by the fact that Intel
reported first-quarter results and issued second-quarter guidance so substantially above market
expectations. As almost all the analysts predicted PC chip sales decrease due to weak industry
reports, Intel on contrary reported a jump in PC chip sales. As Intel is one of the leading PC chip
manufacturers such a report even triggered a debate on the true state of the personal computer
market, which currently might be undervalued.

4 Market Overview is not an advice. Neither authors nor iFund or other representatives are liable for possible use of information contained in
it. Relatively reliable public information (Exchanges websites, Bloomberg, Reuters, etc) was used to produce this Market Overview.
Market Overview: NYSE 2011, wk. 16

The main indexes which reflect to USA market had an increase of 1.24% this week, thus a small
decline in NYA, DJI and GSPC values might be expected to follow in week 17. As in spite of the
quarter reports published, the trading volume wasn’t high, the main leaders are likely to slightly
keep going up in week 17. However the peak for MPEL performing was probably seen in week 16
as price was relatively stable during the 2 last trading days, thus a small drop in market value can
occur further for this company. With the end of Easter holidays and return to normal trading
schedule, the volume of trades is expected to rise as well.

Review by: Aleksejs Razživins, Andrejs Zavertjajev, Santa Kratule

5 Market Overview is not an advice. Neither authors nor iFund or other representatives are liable for possible use of information contained in
it. Relatively reliable public information (Exchanges websites, Bloomberg, Reuters, etc) was used to produce this Market Overview.