123jump.com Staff
15 Oct, 2007
New York City
In the early trading in New York stock are trending lower after earnings from Citigroup and Eaton Corp. Citigroup reported third quarter earnings per share of 47 cents compared to $1.01 a year ago and Eaton Corp reported earnings of $1.71 compared to $1.62. Danaher offered $2.8 billion for Tektronix, 34% premium on closing price on Friday. India, Hong Kong, and Shanghai surged. European markets trend lower. Philips Electronics earnings dropped 80%.
123jump.com Staff
15 Oct, 2007
New York City
Stocks in Tokyo closed higher after facing a morning trading decline.
The Bank of Japan said in a quarterly regional economic report that export sector is expanding and capital investment is still rising moderately. The Bank of Japan governor said that the economy is likely to expand at a moderate pace. Rising prices of metals, agricultural commdities, and energy lifted stocks in shipbuidling and mining sectors. Mitsui Engineering anf Mitsui OSK gained more than 2%.
123jump.com Staff
12 Oct, 2007
New York City
U.S. stocks edged higher on retail sales and inflation report. Retail sales in September rose 0.6% and producer price index increased 1.1% in the month. Core rate of inflation rose 0.1%. Oracle offered $6.6 billion cash or $17 per share for BEA Systems. Oil reached a new reocrd on the worries that Turkey may invade Northern Iraq. General Motors surged more than 10% in the week. Asian markets hovered at record levels. European markets edged lower.
123jump.com Staff
12 Oct, 2007
New York City
Sensex in Mumbai, India trading fell 2% after rising sharply in the last three days. Of the 30 stocks 26 declined in the Sensex index. The Finance Minister Chidambaram said that current value of rupee in the international market is trading outside the comfort zone. He also suggested that the economy is capable of 9% annual growth. Reliance Industries plans to invest up to $9 billion in Jamnagar refinery and plans to invest $4 billion in domestic oil exploration.
123jump.com Staff
12 Oct, 2007
New York City
Stocks in early trading in New York reached higher after reports on retail sales and inflation. Retail sales increased 0.6% September on strong auto sales on top of 0.3% rise in August. Producer Price Index in the month increased 1.1% and core PPI increased 0.2%. General Electric reported 14% increase in earnings on 12% rise in sales. Centex plans to take $1 billion in charges. European markets fell. India and Taiwan led the decliners in Asia.
123jump.com Staff
12 Oct, 2007
New York City
Oracle offered to purchase BEA Systems for $6.6 billion in cash or $17 per share, 25% premium from the close on Thursday price. BEA has attracted interest of Carl Ichan who is known for his agressive tactics with company management. He recently raised his stake int the company to 13% and pushed management to look for a buyer. Oracle cash offer lifted the stock in early trading to $18.
123jump.com Staff
12 Oct, 2007
New York City
September consumer confidence was flat in Japan. Households face stagnant wages, rising prices, and higher cost of food and energy, dampening sentiment for months. The malaise in pension records is also affecting the sentiment. The producer price index or wholesale inflation rose 1.7% in September after gaining 2% in August. Stocks in Tokyo trading fell on weak tech and financial sectors.
123jump.com Staff
11 Oct, 2007
New York City
Stocks in New York closed lower after tech stocks declined in the afternoon trading. Same stores sales for the September month were mixed. Target, J C Penney, Kohls, Limited, and Nordstrom fell after they lowered earnings guidance for the quarter. Wal-Mart raised the estimate for the third quarter. UK led the gainers in Europe. Asian markets closed higher. Australia, Hong Kong, India, Indonesia, and Korea closed at a record high.
123jump.com Staff
11 Oct, 2007
New York City
Sensex in India closed higher, the third record close in a row. The index added 155 or 0.8% to close at 18,814. Of the 30 stocks in the index 23 gained. DLF Limited plans to raise $1.5 billion in international offering. Infosys reported earnings and sales rise of 19% and offered estimate of earnings increase of 18% in the next quarter. Stock fell 7%.
123jump.com Staff
11 Oct, 2007
New York City
U.S. retailers reported largely lower sales in September and blamed warm weather for their performance. Target, J C Penney, Kohls, and Nordstrom were some of the few retailers who lowered their earnings for the third quarter. Wal-Mart raised its earnings estimate for the third quarter. Target reported same store sales grwoth of 1.5%, below its lowered forecast. J C Penney, Limited, and Chicos disappointed with a same store sales decline.
123jump.com Staff
11 Oct, 2001
New York City
Stocks in the early tradig in New York are up on Wal-Mart raising its earnings guidance, increase in oil, gold, and copper prices, and 2.5% shrinkage in trade deficit. Same store sales at retailers were weaker than expected. Saks and Nordstrom reported smaller than expected gains.
Asian markets close sharply higher led by record close in Hong Kong, Australia, India, and South Korea.
123jump.com Staff
11 Oct, 2007
New York City
Australian stocks closed at another record after adding 0.52% to close at 6,779.60 on ASX 200 index. The jobless rate in September fell to 4.2%. The Australian dollar crossed $0.90 to one dollar. Murchison Metals battle for Midwest heated up after it urged Midwest shareholders to note that a deal between Sinosteel and Midwest is still tentative. Murchison and Midwest are battling to buid a port on the Western Australian coast. India, Indonesia, and Hong Kong at record close.
123jump.com Staff
11 Oct, 2007
New York City
Nikkei 225 index in Tokyo trading jumped 1.6% or 281 to 17,458. The braod rise in the market was supported several news on the economy. The Bank of Japan left the rate unchanged at 0.5%. In the accompanying statement the Bank noted a mild rise in private consumption. Moodys raised rating by one notch on sovereign debt as the governemt remains focused on lowering budget gap. Current account surplus in August jumped 42% on rise in exports to Asia and Europe.
123jump.com Staff
10 Oct, 2007
New York City
U.S. stocks fell after early morning earnings warning from Valero, Chevron, and Monsanto. However, Costco jumped 10% on earnings news. Stocks fell in the early morning and recovered in the afternoon with a strength in financials, banks, and home builders. Alcoa fell after earnings and Boeing dropped on delays in 787 delivery. European markets closed fractionally higher. Asian markets closed sharply higher led by records in South Korea, Indonesia, India, Australia, and Hong Kong.
123jump.com Staff
10 Oct, 2007
New York City
Stocks in the UK edged higher led by a rise in financials, miners, and British Air. Northern Rock jumped 32% after two investors acquired a total of 5% in the company. Cadbury Schweppes plans to list its beverage unit in the U.S. as it failed to find a buyer. Analysts estimate that the unit may fetch less than 7 billion pounds. Mortgage lenders rose after the news that two hedge fund investors took a stake of 5% in Northen Rock.
