123jump.com Staff
26 Jun, 2001
New York City
U.S. stock averages struggled and lost its momentum on worries that housing market problem will persist. The Commerce Deaprtment reported 16% decline in home sales in May from a year ago. Oil fell below $68. Two buyout deals worth $9 billion falied to excite the market. Huntsman Chemical agreed to be bought out for $5.6 billion and Ventana Medical Systems for $3 billion by Roche. Markets in Europe, Asia and Latin America fell. China Coso IPO was oversubscribed 100 times.
Elena
26 Jun, 2007
New York City
European stock markets finished in the red on Tuesday, weighed down by continuous worries over interest rates and the subprime-mortgage market. In addition, a steep decline was posted by shares of BAE Systems, falling 7.8% after a U.S. anti-corruption probe into Britain''s top arms dealer. The German DAX 30 dropped 0.9% and the French CAC-40 lost 0.8%, the U.K.''s FTSE slipped 0.4%.
Elena
26 Jun, 2007
New York City
U.S. stock averages lost direction over the course of morning trading, as investors refrained from making big moves ahead if the Fed Reserve''''s decision on interest rates later in the week. Slightly better-than-expected housing data and deal news failed to offset renewed worries about interest rates, the subprime mortgage market, and hedge fund woes. Housing stocks came under pressure on lower home sales, followed by resource stocks which declined on weaker commodities prices.
Elena
26 Jun, 2007
New York City
Homebuilder Lennar lost 1.2% after posting a quarterly loss and warning of further weakness. Lennar said it swung to a Q2 loss of $1.55 per share, vs. a profit of $2 per share a year ago, blaming weaker housing market. Analysts had been expecting Q2 profit of 5 cents a share. Quarterly revenue dropped 37% to $2.88 billion, beating analyst estimate of $2.58 billion. The company warned it would report a Q3 loss as well.
Elena
26 Jun, 2007
New York City
Wall Street opened above the flat line, reflecting bargain hunting after recent weakness and merger-and-acquisition news ahead of a key report on the housing market. BlackRock added 1.6% after it agreed to buy the fund-of-funds business of Quellos Group for up to $1.7 billion. In earnings news, homebuilder Lennar lost 1.2% after posting a quarterly loss and warning of further weakness. Oracle and Nike are scheduled to report after the closing bell.
Ivaylo
26 Jun, 2007
New York City
Exporters in Japan fell with Elpida Memory and Fujitsu in the lead, while trading house Mitsubishi led the brokerages down on worries over subprime mortage rates in the US. HK, Australia and South Korea also declined. In China the market reversed losses made earlier as investors seemed to be of the opinion that the 12% slump previous week was overrated.
Elena
26 Jun, 2007
New York City
U.S. stock market looked poised for a higher opening Tuesday, with investors awaiting a report on new home sales, expected to show a decline in May from the previous month. In another report, the Conference Board is due to release its June consumer confidence index. S&P 500 futures rose 3 points at 1,516.60 and Nasdaq 100 futures rose 4 points at 1,945.00. Dow industrial futures rose 14 points.
Ivaylo
26 Jun, 2007
New York City
Trading was range-bound today, as the market lacked direction on an absence any real trigger. The market-breadth was strong, with mid and small caps were responsible for much of the market activity. ONGC and Bharti Airtel were the main gainers, while Ranbaxy and Wipro led the decliners. The risk for holding debt of State Bank of India advanced to a three-month high.
123jump.com Staff
25 Jun, 2007
New York City
On the first day of trading market averages around the world faced second day in-a-row of selling. Rising U.S. yields and worries related to sub-prime lending led market averages in New York to near 1% loss at mid-day trading. Goldman Sachs, Bear Stearns, and Lehman fell more than 2%. General Motors gained 2% on an upgrade from Goldman Sachs. Stocks in Europe, Asia and Latin America fell. Shanghai fell more than 3% for the second day-in-a-row. Brazilian sugar producer Cosan to raise $2b in NY.
Elena
25 Jun, 2007
New York City
European stock markets finished mostly lower on Monday, pressured by weakness among real-estate companies and mining shares. Hypo Real Estate and Unibail, each declined 1.3%. Rate concerns also hurt shares of Pendragon, with the British used-car dealer falling 16%. Antofagasta and Anglo American each dropped 1.5%, as metals prices declined. The German DAX lost 0.2%, the French CAC-40 slipped 0.3%, while the U.K.''s FTSE 100 ended up 0.3%.
Elena
25 Jun, 2007
New York City
U.S. market averages moved firmly into the positive territory after the initial lackluster trading fashion. Rate-sensitive utilities stocks stood out among the market''s best performances amid a decrease in treasury yields. Significant strength also emerged among transportation stocks, benefiting from a steep decline by the price of oil. At the same time, resource stocks showed weakness, due to lower commodities prices.
Elena
25 Jun, 2007
New York City
Walgreen reported a better-than-expected 20% profit rise in Q3, lifted by a growing market share in its top products and an increase in prescription sales. The U.S. biggest drugstore chain earned $561.2 million, or 56 cents per share, up from $469.2 million, or 46 cents per share a year ago. Revenue rose 13% to $13.7 billion from $12.2 billion last year, but fell short of expectations. Analysts had been expecting a profit of 54 cents on revenue of about $13.8 billion. The stock lost 0.7%.
Elena
25 Jun, 2007
New York City
U.S. stock markets opened above the flat line, as bond yields declined amid data showing that sales of existing homes hit a 4-year low in May, while the median home price fell for a record 10th month in a row. A broker upgrade of General Motors also generated positive sentiment. Goldman Sachs raised its rating on the stock to buy from neutral, saying there was little downside for the company''s stock. GM shares jumped 3%.
Ivaylo
25 Jun, 2007
New York City
Mining stocks were the main drag on the market by mid-day as analysts at Cazenove lowered their recommendations on Anglo American and Antofagasta on a darker guidance about the prices of copper, gold and platinum. Pendragon dipped on weaker consumer spending, while Cadbury Schweppes as lack of bidding news disappointed investors. ICI was among the few gainers as talk of Akzo Nobel sweetening its bid for the chemical group improved sentiment. The FTSE 100 dipped 0.4%.
Ivaylo
25 Jun, 2007
New York City
Asian markets fell led by BHP Billiton and Sony Corp, as well as by concerns over U.S. home sales this week, expected to show a decline, which would mean lesser interest in export oriented companies. Expectations of further tightening measures in China weighed on the Shanghai Composite Index, and in HK, China related stocks were hit the worst. In South Korea, banks led the decline.
