123jump.com Staff
24 Oct, 2007
New York City
Australia reported its inflation at the end of the third quarter rose to 1.9% and core rate of inflation increased at a rate of 1%. The report stoked worries that the interest rate may be raised before the end of the year. Australian dollar traded volatile on the report. Rio Tinto reported that nearly 80% of shareholders have tendered the shares in Alcan, aluminum company of Canada. Banks fell on the worries that Merrill Lynch loss may be larger than the previous estimate of $5 billion.
123jump.com Staff
24 Oct, 2007
New York City
Markets averages in the early afternoon fell sharply after wider than expected loss at Merrill Lynch. Merrill reported nearly $8 billion loss in the fixed income trading on subprime mortgages and leveraged loans. Merrill fell as much as 7% and dragged Bear Stearns, Lehman, and Goldman Sachs lower as well. Ambac reported a loss of $3.51 per share and Moodys warned that earnings for the rest of the year will be lower. Boradcom and Amazon fell 7% after reporting earnings.
123jump.com Staff
24 Oct, 2007
New York City
Stocks in Tokyo fell after the worries of the sub-prime losses in the U.S. resurfaced. Banks and financial services led Nikkei 225 lower by 0.6%. September trade surplus rose 63% on 6.5% rise in exports and 3.25% decline in imports. Exports to China increased 16.5% and to India surged 54% but to the U.S. fell 9.2%. For the six months period ending in September, exports jumped 45.7% from a year ago.
123jump.com Staff
24 Oct, 2007
New York City
U.S. market averages opened lower after a wider than expected loss from Merrill Lynch hurt the trading sentiment. The broker reported a net loss of $2.24 billion compared to net income of $3.02 billion a year ago. Leveraged loans and fixed income trading in subprime and collaterized loans led to a loss of $7.9 billion. European markets were trading mixed at mid-day. Asian markets after a steady rise in three days settled near peak levels. Turkish airstrike puts oil traders on alert.
123jump.com Staff
23 Oct, 2007
New York City
U.S. stocks recovered for the second day after earnings from Apple, American Express, Burlington Northern, Du Pont, and T Rowe Price improved the sentiment. Investors cheered the steady stream of earnings from industrial, technology, and financial services companies after a week of gloomy earnings from banks. European markets edged higher led by 2% rise in Norway. Miners surged in UK and Australia. India led world markets with a sharp gain of 5%. Hong Kong, Korea, and Indonesia surged as well.
123jump.com Staff
23 Oct, 2007
New York City
UK stocks edged higher led by a rally in resources stocks. FTSE 100 index edged 0.9% higher to close at 6,514.00. BHP jumped 2.3% after reporting preliminary production results for the third quarter. The report indicated that tht edemand from China is healthly and iron ore production increased 7%. Autonomy fell after reporting 49% rise in sales. Prudential Plc reported 15% rise in insurance premium on strength in the U.S. and Asia. UK sales fell.
123jump.com Staff
23 Oct, 2007
New York City
In the early afternoon trading U.S. stocks traded higher led by a parade of earnings. T Rowe price reported earnings rise of 37%, Western Union earnings fell but revenue rose by 10%. Burlington Northern Santa Fe jumped after reporting earnings rise of 9% on revenue gain of 4%. Apple soared 7% on 67% rise in earnings. Coach fell 10% after reporting 28% increase in sales and 32% rise in net income.
123jump.com Staff
23 Oct, 2007
New York City
Stocks in Australia closed higher led by mining, banking, and retailing sectors. ASX 200 index ganiend 1.3% to close at 6,660.90. BHP edged higher after its third quarter production report showed production increase of 7% in iron ore, 23% in copper, but 13% decline in Nickel. Woolworths sales increased 8.9% in the fist quarter of the fiscal 2008 on the strength in general merchandise sales. Qantas added 4% after its subsidiary Jetstar plans to launche discount flights to Europe.
123jump.com Staff
23 Oct, 2007
New York City
Market Averages futures in New York trading are indicating higher opening. Asian markets closed sharply higher led by 5% rise in India and 4% increased in Hong Kong, Indonesia, and Korea. European markets are trading 1% higher across the region. Apple reported 67% rise in earnings. AT&T earnings jumped 41% and American Express earnings jumped 18%. Du Pont reported earnings gain of 9%. Oil giant BP earnings dropped 29% to $4.4 billion.
123jump.com Staff
23 Oct, 2007
New York City
Stocks in Tokyo edged higher on a rebound in the banking sector. Nikkei 225 index closed up 0.07% to 16,450.58 and broader Topix Inde gained 0.5% to 1,570.55. October private consumption was reported flat by the Cabinet Office of Japan. Fuji Heavy Industries gained after it revised its sales and earnings forecast for the year. Asian markets surged led by 5% rise in India. Hong Kong, Indonesia, and Korea surged above 3%.
123jump.com Staff
22 Oct, 2007
New York City
Apple reported fourth quarter profit increase of 67% on 29% rise in revenue. The company issued a guidance of $1.42 for the current quarter. American Express earnings increased 18% for the continued operations on revenue rise of 11%. Netflix raised its earnings guidance after reporting 24% increase in subscribers to 7 million at the end of the quarter. Canadian National revenue and earnings disappointed investors. Texas Instuments issued lower than expected revenue guidance.
123jump.com Staff
22 Oct, 2007
New York City
Markets in the U.S. edged higher as tech stocks showed strenght in the last hour of trading. The sharply lower opening in the morning was quickly reveresed by mid-day as oil, copper, and gold fell. The strength in tech stocks lifted the averages at the close. European markets fell in sympathy with a lower close on Friday in the U.S. and a sharp correction Asian markets. Hong Kong, Korea, Philippines, and Indonesia fell more than 3%. Apple earnings surged 67% on 29% rise in sales.
123jump.com Staff
22 Oct, 2007
New York City
UK stocks fell more than 1.7% at the opening but managed to trim losses by close to 1.5% decline. Asian markets in the overnight trading fell on the worries that global economic slowdown is an increasingly likely scenario. Metals and mining, energy, and financial sector stocks led the decline. British Energy led the decliners in the FTSE 100 index stocks with a fall of 8.1%. Xstrata, Vedanta, and Kazakhmys fell more than 5%.
123jump.com Staff
22 Oct, 2007
New York City
Mumbai stocks edged higher bucking sharp losses in Asian markets. Sensex edged higher on strenght in banking stocks. ICICI Bank reported 32% increase in earnings as consumer sought more loans and businesses lauched new projects. HDFC surged 6% ahead of its earnings. Infrastructure stocks increased in trading. Indonesia, Hong Kong and, Singapore fell more than 3%.
123jump.com Staff
22 Oct, 2007
New York City
Goodman Global agrees to be sold to Hellman Friedman for $2.65 billion or $25.60 per share. The deal to be financial by 50% debt and the rest thorugh private equity lifted the stock by 10%. Goodman stock has increased from $12 a year ago to $23 before the deal news but its annual earnings have been lackluster in the last three years.
