Elena
04 May, 2007
New York City
Shares of Yahoo surged 15% in pre-open trading on Friday amid reports that Microsoft is likely to launch a buyout bid for the Internet search firm after being beaten to other deals by Google Inc. The deal could be valued at a $50 billion.
Ivaylo
04 May, 2007
New York City
European markets managed to stay in positive territory in early trading on Friday ahead of the release of key U.S. jobs data, with miners including BHP Billiton pricing in an advance in Sydney and recorded music group EMI, as well as Reuters, provider of financial data, rallying on new takeover talk. The major indices were higher including the FTSE 100 which rose 0.3% and the French CAC 40, which also gained 0.2%, while the German DAX 30 was a bit worse, trading flat.
Ivaylo
04 May, 2007
New York City
Copper futures reached new highs in New York on Thursday, supported by ongoing warehouse inventory depletions and labor unrest in Peru. Fund buying saw gold and other precious metals rise. On the Chicago Board of Trade, corn futures ended higher, but missed highs reached earlier in the session as worries over planting delays in the Midwest underpinned prices.
123jump.com Staff
03 May, 2007
New York City
Better than expected rie in first quarter worker productivity of 1.7% and slower than expected rise in labor cost of 0.6% helped averages to remain in the positive. jobless claims at the end of last week felll to 305,000. Expeditors International, Royal Dutch Shell,Symantec, and Unum reported better than expected earnings. Verizon rallied on Merrill Lynch raising the target to $42 from $40.
Elena
03 May, 2007
New York City
European stock markets were volatile but finished in the positive territory on Thursday, helped by better-than-expected U.S. economic data and strong profits. A court ruling on takeover target ABN Amro also contributed to the gains. Royal Dutch Shell rose 1.9%. Unilever climbed 3.9% after it posted an unexpected Q1 profit. The CAC closed up 0.2% at 6,004.28, the German DAX 30 added 0.3% and the U.K. FTSE 100 rose 0.8%.
Elena
03 May, 2007
New York City
U.S. market averages traded higher, helped by upbeat economic data which managed to offset news that General Motors Q1 profit fell 90%. GM weighed on the Dow, falling 3.8% after its quarterly results missed forecasts. Optimism about the economy sent the S&P''s 500 past 1,500 for the first time since September 2000. Among the most notable movers, Hanson climbed 18%, while IPSCO rose 6% after the Swedish steel firm SSAB Svenskt Stal announced that it was buying the company for $7.7 billon.
Elena
03 May, 2007
New York City
CBS added 0.6% after it said quarterly profit fell 5.9%, hurt by a tax charge selling radio stations and lower TV syndication income. At the same time, its adjusted earnings per share were slightly above analyst expectations. Martha Stewart Living Omnimedia posted a wider Q1 loss, weighed down by a charge associated with production of its syndicated TV program. Company''s stock dropped 1.7%.
Elena
03 May, 2007
New York City
Wall Street started trading moderately higher on Thursday, as stronger-than-expected Q1 productivity growth and a modest increase in labor costs helped generate some optimism about the outlook for interest rates. However, the upside move was limited by 3% decline for General Motors amid 90% profit drop. In corporate news, Russia''s Norilsk Nickel, the world''s largest nickel producer, offered to buy Canada''s LionOre Mining International for $4.8 billion.
Ivaylo
03 May, 2007
New York City
London equities reached a six-year high on Thursday morning, buoyed by strong results from Unilever, Royal Dutch Shell. Oil company Royal Dutch Shell soared after first quarter earnings rose 17%, while consumer goods large-cap Unilever posted strong gains as first quarter pre-tax profit surged compared with the previous year on improved operating margins. By mid-day, the FTSE 100 index was up 30.6 points to 6,515.2.
Elena
03 May, 2007
New York City
U.S. stock futures advanced Thursday after data showing a bigger-than-expected rise in labor productivity in Q1, and lower-than-anticipated unit labor costs. The Labor Deapartment said that productivity of the U.S. non-farm business sector rose 1.7%, much higher than the expected 0.8% increase. Unit labor costs at an annual rate of 0.6%, well-below expectations of a 2.1% gain.
Ivaylo
03 May, 2007
New York City
Asian markets closed on record-setting note Thursday, as technology and banking sectors were in focus after the release of positive U.S. economic data. Benchmark indices in Australia, Singapore, Malaysia, Indonesia and New Zealand rallied, while financial markets in Japan and China were closed for public holidays. China Mobile led the advance in Hong Kong, while BHP Billiton was the top performer in Australia.
Elena
03 May, 2007
New York City
The auto maker said its Q1 earnings were $62 million, or 11 cents a share, down from a profit of $602 million, or $1.06 a share a year ago. The company blames the disappointing results to its financial services unit''s exposure to the non-prime sector of the residential mortgage business. The company''s stock fell 1.6% to $31.90 in premarket trade.
Ivaylo
03 May, 2007
New York City
After a two-day break, the benchmark index opened with a positive bias Thursday and remained in positive territory throughout the session on strong global markets and robust earnings results from large-caps. Reliance Industries and Bajaj Auto led the advancers, while Tata Motors and HDFC Bank were the worst performing stocks. HDFC on Thursday reported 29% jump in fourth-quarter net profit for the current fiscal year.
Ivaylo
03 May, 2007
New York City
European markets were mostly lower mid-morning on Thursday as weakness in automakers and technology companies countered some well-received earnings from oil company Royal Dutch Shell and food group Unilever. Also, UBS, the world biggest asset manager, and German carmaker BMW posted earnings that missed analysts estimates. The German DAX Xetra 30 index lost 0.2% and the French CAC-40 index slipped 0.1%. However, the U.K. FTSE 100 index rose 0.4%.
123jump.com Staff
02 May, 2007
New York City
U.S. market averages rose as steady drumbeat of earnings supported a rise. Master Card, CB Richard Ellis, Nortel, Jones Lang La Salle, Yum Brands, and others reported rising earings on gains in international sales. Dow Jones is likely to receive at least two bids from private equity groups, sources in the industry confirm. European markets advanced led by a rise in Norway and UK. Brazil reported April trade surplus of $4.2 billion. HSBC stock attracts Middle-Eastern investors.
