Elena
24 May, 2007
New York City
The retailer said it earned $52.9 million, or 13 cents per share, compared with profits of $99.4 million, or 25 cents a share a year ago. Sales totaled $2.3 billion compared with $2.1 billion a year ago. Limited Brands attributed the quarterly decline to lower-than-expected sales and margins across all its brands, particularly Victoria''s Secret.
Elena
23 May, 2007
New York City
[[European stock markets gained ground on Wednesday, reaching new multi-year highs with the help of strong telecom and automotive shares. Deal speculation in the Dutch mobile market boosted telecoms, with KPN rising 2.8%, Vodafone, climbing 3.7%, Deutsche Telekom, adding 2.9%, and France Telecom rising 2.1%. Telecom equipment maker Alcatel-Lucent shares advanced 2.8%. The German DAX Xetra 30 advanced 1%, the French CAC-40 climbed 0.5%, and the U.K.''s FTSE 100 added 0.2%.
Elena
23 May, 2007
New York City
Another flurry of deal news fueled U.S. market rally, sending the Dow Jones to a new record high. The blue-chip average was boosted by gains for Caterpillar, up 2.1%, Home Depot, Hewlett-Packard and Disney, each rising above 1%. The metals sector was in the spotlight amid deal speculations after Alcan rejected Alcoa''s $27 billion hostile bid. Alcoa rose 4.5%, while Alcan shares added 4.2%.
Elena
23 May, 2007
New York City
Forest Laboratories was a notable gainer on the S&P, rising 5%. The drug maker said that early results from a clinical trial showed the experimental fibromyalgia drug developed with Cypress Biosciences was better than a placebo. Cypress stock skyrocketed 98%. Analog Devices dropped 8.6% after reporting a 14% profit decline and projecting current quarter earnings below expectations.
Elena
23 May, 2007
New York City
Wall Street opened higher amid deal speculations in the metals and media sectors. Retailers posted gains on strong earnings. Target advanced 3.3% after the retailer posted better-than-expected Q1 earnings of 75 cents a share and revenue of $14.04 billion which came in below analyst estimates. Medtronic rose 5.2% after it said Q4 earnings and revenue beat expectations. The Medical device maker said quarterly profit rose 10% despite sluggish sales of implantable heart devices.
Ivaylo
23 May, 2007
New York City
Shanghai stocks surged Wednesday on gains in the banking and property-developer sectors, as regional indices mostly advanced. Japanese shares finished higher, led by exporters such as Toyota Motor that rose on a weaker yen, and banks such as Sumitomo Mitsui Financial Group. Hong Kong ended lower, while South Korea and Singapore finished in positive territory.
Elena
23 May, 2007
New York City
U.S. stock market futures moved higher on Wednesday after, boosted by speculations that Canada''s Alcan may involve rival aluminum producer Alcoa into a bidding war. Alcan is reportedly in talks with global mining concern BHP Billiton after rejecting an unsolicited takeover bid from Alcoa on Tuesday and said it is in discussions with third parties. Alcoa gained 2.7% before the bell, while U.S.-listed shares of Alcan were up 3.7%.
Ivaylo
23 May, 2007
New York City
The benchmark index traded in a tight range throughout the day, although it opened with a positive bias and surged initially. Selling pressure on unwinding of positions sent the Sensex lower in late session with auto, banks and tech stocks leading the decline, while the metals sector ended higher. Tata Motors, ITC and Reliance Comms led the decliners, while the best performing stocks was Tata Steel.
Elena
23 May, 2007
New York City
The real estate investment firm, Morgan Stanley Real Estate will buy the company for $22.80 per share. The deal includes the assumption and refinancing of about $3.1 billion of the company''s outstanding and unconsolidated debt and redemption of some $440 million in preferred shares. The transaction is expected to complete by the third quarter.
Ivaylo
23 May, 2007
New York City
Commodities prices dipped across the energy, metals and agricultural markets Tuesday on declines in crude oil, gold and grains. Oil prices dropped under a forecast for advancing crude and gasoline inventories. Gold prices flagged also beside a rising dollar and weaker crude. Shortly before the close of the London Metal Exchange, industrial metals prices began to soften after a mostly positive day.
123jump.com Staff
22 May, 2007
New York City
U.S. market averages attempted a spirited move towards higher opening but quickly faced the headwind. The offer for MGM owned casions from Tracind controlled by Kirkorian lifted trading sentiment in casino and hotel stocks. Mortgage lenders gained on the deal to sell subprime mortgage portfolio by Fremont General to IStar Financial. Retailers fell on lower sales outlook from Staples and weaker than expected earnings and sales forecast from American Eagle. Chile fell 4% on pension funds worries.
Elena
22 May, 2007
New York City
European stock markets closed mixed on Tuesday, reflecting gains from telecom and chemical companies and weakness in the pharmaceutical sector. Deutsche Telekom and France Telecom both added 1.5%. Among chemical firms DSM advanced 4.2% and Alzo Nobel was up 1.4%. In the drug sector, GlaxoSmithKline declined 1.4% after several broker downgrades. The German DAX Xetra 30 rose 0.5%, the French CAC-40 finished unchanged at 6,089.72 while the U.K. FTSE 100 lost 0.5%.
Elena
22 May, 2007
New York City
U.S. stocks traded in a lackluster fashion as there was no major catalyst to give the market a direction. Deal new failed to generate broad market sentiment. Individual stocks such as MGM Mirage and Fremont General saw their shares steeply up, 28% and 38%, respectively. At the same time, the housing sector advanced ahead of the release of key housing data later this week. On the opposite side, resource stocks posted weakness amid decreasing commodities prices.
Elena
22 May, 2007
New York City
Staples slipped 5% after it reported a 12% profit rise on 8% sales growth in Q1, helped by sales of laptop computers. Tech Data slipped 6% after posting a 23% drop in profit, despite a 9% sales growth. Autozone fell 2% despite reporting 5% profit increase and 4% sales growth.
Elena
22 May, 2007
New York City
U.S. stock market opened in the positive Tuesday, supported by merger activity in the casino industry and talks aimed at easing economic tensions between the U.S. and China. MGM Mirage climbed 26.5% after billionaire Kirk Kerkorian offered to buy two Las Vegas properties owned by MGM Mirage-the Bellagio and CityCenter.
