123jump.com Staff
10 May, 2007
New York City
U.S. trade deficit widened in March by 10.4%, wider than the forecast. The Labor Department said April import prices climbed 1.3% amid rising energy and food prices after a 1.5% increase in March. April retail sales were reported by Wal-Mart, Federated and several other apparel stores. Chinese individual investors speculation has driven local market indexes to record level. Brazil debt receives an upgrade. Bank of England hike rates to 5.5% and ECB keep rates at 3.75%
123jump.com Staff
10 May, 2007
New York City
Stocks slid as disappointing April retail sales and a widening trade deficit raised worries about the economy''s health a day after the Federal Reserve reiterated their unease about inflation. Wal-Mart April same store sales dropped 3.5%, worst decline in last 28 years. Children''s Place, Pacific Sunwear and New York & Co. Inc. cut their earnings forecast after reporting April sales.
Elena
10 May, 2007
New York City
European stock markets closed in the red Thursday, dragged down by weakness in the shares of miners Rio Tinto and BHP Billiton. Markets showed little reaction to the in-line-with-expectations interest-rate decisions from the BoE and the ECB. Mining giants Rio Tinto and BHP Billiton fell more than 3% a day after speculation that BHP had launched a bid for Rio. The German DAX Xetra 30 slipped 0.8%, the French CAC-40 dropped 0.6%, and the U.K. FTSE 100 fell 0.4%.
Elena
10 May, 2007
New York City
The three major market averages continued to trade in the negative territory, pressured by disappointing economic report which showed that the U.S. trade deficit widened much more than expected in March. The downward move reflected significant weakness among housing, disk drive, and oil stocks. The housing sector was dragged down by Toll Brothers Inc. which dropped 2.4%.
Elena
10 May, 2007
New York City
Toll Brothers fell 1.7% a day after the biggest U.S. luxury homebuilder reported a steep decline in revenue and a shrinking backlog. The company reported Wednesday a 19% drop in revenue to $1.17 billion for its Q2. Toll Bros blamed the stricter lending requirements that have been tough on buyers who want to upgrade but are unable to sell their current residences.
Elena
10 May, 2007
New York City
Wall Street saw a weak opening Thursday, hurt by disappointing retail sales. Whole Foods dropped 12% after the natural and organic foods grocery retailer missed Q1 profit expectations, posting a profit decline and slowing same-store sales growth. Urban Outfitters fell 5% after it posted in-line-with estimates Q1 net income rise of 17 cents a share, up from 12 cents a share, with sales rising 16%.
Ivaylo
10 May, 2007
New York City
The U.K. market was unmoved Thursday by the decision by the Bank of England to hike interest rates to their highest level for six years by a quarter point to 5.5%. as the decision was widely anticipated. While it could help to damp the property market, real estate stock moved higher anyway on bid speculation. Tony Blair stepped down as prime minister. The FTSE 100 was down 13.5 points at 6,536.9.
Elena
10 May, 2007
New York City
U.S. stock futures traded lower Thursday, as investors digested disappointing April retail sales and bigger-than-expected increases in the trade deficit and import prices. The Commerce Department said that U.S trade deficit for March widened by 10.4% to $63.9 billion, compared with expectations of a deficit of $59.6 billion. In another economic report, the Labor Department said that initial jobless claims fell by 9,000 to 297,000 last week.
Ivaylo
10 May, 2007
New York City
Asian markets finished mostly higher Thursday, as China continued its record-breaking run while Japanese markets dipped on automakers after Toyota forecast the slowest profit growth since net income dropped in 1999. Benchmark indexes in New Zealand, Australia, and Indonesia also set new records. Hyundai Heavy Industries led South Korean markets higher, while Hong Kong declined.
Ivaylo
10 May, 2007
New York City
The benchmark index opened with a positive bias on follow-up buying and firm global markets and traded higher in early deals. Aggressive selling, mostly in oil & gas stocks sent the index sharply lower in late afternoon trading. ONGC, NTPC, Ranbaxy, Reliance Industries and Reliance Energy were severely hit, while cement stocks Grasim and ACC rallied. Car sales in India rose 11.3% on year in April.
Elena
10 May, 2007
New York City
The majority of them reported robust March same-store sales due largely to an early Easter, tipping off investors that their April sales would come below expectations. Among the first to report April same-store sales, Costco Wholesale posted a 7% increase, Claire
Ivaylo
10 May, 2007
New York City
European markets were little changed on Thursday morning, with investors waiting for interest rate decisions by the Bank of England and by ECB. The Bank of England is expected to hike rates, while ECB to keep them unchanged. Britain''s Blair will step down as prime minister on June 27, after a decade in office. The U.K. FTSE 100 index edged down 0.1%, the German DAX Xetra 30 index was up 0.1% and the French CAC-40 index traded 0.1% lower.
Ivaylo
10 May, 2007
New York City
Cocoa futures surged to three-week highs Wednesday, supported by a soft dollar that encouraged speculator and fund buying. A report out Wednesday announced that Nigeria''s beans may have been damaged by too much rain. The heavy are expected to boost Nigerian midcrop development, but it will make it difficult for farmers to sun-dry the beans after fermentation and may degrade quality. All the precious metals declined on Wednesday. Energy futures ended mixed.
123jump.com Staff
09 May, 2001
New York City
The Fed kept the federal funds rate at 5.25%, unchanged since June 2006. Investors gave a boost to stocks hoping the Fed would cut rates by year-end. OfficeMax jumped 8.3%. Cisco posted a 34% quarterly profit rise and shares slid 6%. News Corp. lost 2.1%. Alltel advanced 2%. Rio Tinto climbed 11% amid market speculation that BHP Billiton launched a takeover offer for it. Toyota forecast slowest profit growth in ten years.
123jump.com Staff
09 May, 2007
New York City
Barnes Group, metal maker and distributor, revenue rose 20% and earnings rose to 50 cents per share from 36 cents a year ago. The company revised its annual earnings outlook. EFunds, electronic payment solution provider reported earnings of 22 cents but said that it has been approached by investment banks to explore strategic alternatives. Leap wireless earnings fell on higher customer acquisition cost but stock jumped 6%.
