Elena
29 Aug, 2007
New York City
Williams-Sonoma, a household goods and decor retailer, reported better-than-expected Q2 earnings and raised its full-year profit target. The stock climbed 7.6%. Double Hull Tankers posted 11% profit increase in Q2 on strong charter rates and continued demand for its vessels. Big Lots jumped 8.5% after it said its Q2 profit rose on higher same-store sales and lower costs, beating analyst estimates. The closeout retailer also lifted its full-year profit guidance.
123jump.com Staff
29 Aug, 2007
New York City
Tokyo fell 1.7% tracking the losses in the U.S. Japanese investors are worried that banks in Tokyo have unknow exposure to mortgage market and exporters are worried that incomes will decline with slowing economy in the U.S. Banks, real estate developers, and exporters led the decline in Topix and Nikkei 225 indexes. Recently appointed finance ministe showed hawkish stand ad expressed a greater desire to intervene in the foreign currency market.
Elena
29 Aug, 2007
New York City
Wall Street rallied at opening Wednesday, as investors took advantage of cheap buying after a heavy plunge in the previous session. The Dow Jones industrials jumped nearly 100 points. DaimlerChrysler released its first full earnings report without Chrysler. The car maker said its net income fell 14% to $2.5 billion, or $2.36 a share, with revenue down 3% to $32.24 billion. Daimler also said its financial services division produced a flat operating profit of $297 million. The stock rose 3.5%.
Elena
29 Aug, 2007
New York City
U.S. stock futures pointed to recovery Wednesday after a huge sell-off in the previous session, sparked by economic growth concerns and uncertainty whether the Fed will cut interest rates to stop credit turmoil from spreading further. On Wednesday, investors turned to bargain hunting on hopes that the stock market will soon overcome its volatility. Among companies in focus, Altria Group is expected to announce a spinoff of its cigarette business, Philip Morris International.
Elena
29 Aug, 2007
New York City
The retailer reported net income rise to $23.4 million, or 22 cents per share, up from $4.3 million, or 4 cents per share a year ago. Income from continuing operations soared to $22.1 million, or 21 cents per share, from $4.7 million, or 4 cents per share. Big Lots lifted its full-year forecast for profit of continuing operations, due to the upbeat Q2 financial results and current business trends.
123jump.com Staff
28 Aug, 2007
New York City
In New York trading averages declined after invesstors reviewed the text of the recent FOMC meeting. The committee members worried that economic growth may be at risk with recent turmoil in credit market jitters. Investors looking for rate cut in the next meeting were disappointed. In the afternoon trading averages fell sharply after the release of the statement. Indicators for consumer confidence and home prices showed decllines. Latin and European markets fell sharply.
123jump.com Staff
28 Aug, 2007
New York City
FTSE 100 opened lower after a day of close and fell more. The housing worries in the U.K. and U.S. markets resurfaced. The loan volumes issued in July in UK fell 11% from a year ago and weak housing sales report in the U.S. kept traders worried. Wood Group reported 35% increase in first-half sales and earnings soared 65%. According to the National Audit Office 33% of the largest 700 companies did not pay taxes in the fiscal year 2005-06.
Elena
28 Aug, 2007
New York City
European stock markets closed lower Tuesday, breaking a seven-session winning streak. Decliners were led by financial companies on concern the credit-market turmoil might spread into the broader economy, hurting economic growth. Barclays, Societe Generale and Deutsche Bank AG paced the retreat. France posted the sharpest decline, down 2.1%, followed by the U.K. losing 1.9% and Germany, falling only 0.7%.
123jump.com Staff
28 Aug, 2007
New York City
In subdued trading in Mmumbai averages fell a fraction reflecting quiet trading across in Asia. Sensex fell 0.4% to 14,901 in a weak trading. Rupee edged lower against dollar. Of the 30 stocks in Sensex, 19 increased. Daily turnover on NSE and BSE has declined from its peak between 10% and 15%. Hindalco led the gaiers and ICICI Bank led the decliners among Sensex stocks. Communist parties and ruling coalition controlled by Congress Party look for commong platform for nuclear deal with India.
Elena
28 Aug, 2007
New York City
U.S. stocks extended losses in late morning trading Tuesday, with the three major averages falling over 1%. A broker downgrade of giant investment banks renewed credit worries and concerns about economic growth. In addition, housing data showed that U.S. home prices in Q2 hit a 20-year low, sending housing stocks down. Hovnanian Enterprises slipped 3.6%, luxury homebuilder Toll Brothers dropped 3%, and D.R. Horton Inc. declined 3.6%.
Elena
28 Aug, 2007
New York City
The Conference Board released its report on consumer confidence in the month of August, showing that its consumer confidence index fell roughly in line with economist estimates. The report showed that the consumer confidence index fell to 105.0 in August from a downwardly revised 111.9 in July. Economists had expected the index to drop to 104.5 compared to the 112.6 originally reported for the previous month.
123jump.com Staff
28 Aug, 2007
New York City
In volatile and thin trading Nikkei 225 index in Tokyo declined. The weak housing market report kept investors nervous. The Ministry of Finance completed $7 billion worth of 20-year bond sales at 2.1%. The auction drew lower response from securities companies. Yen advacned against euro and dollar. Tokyo Stock Exchange launched its first gold ETF. In Asian trading Singapore and Hong Kong led the decliners.
Elena
28 Aug, 2007
New York City
Wall Street declined at opening for a second day Tuesday, with investors nervous before a likely drop in consumer confidence and commentary from the Fed Reserve. Market sentiment was additionaly hurt by losses in the shares of three giant investment banks. Citigroup, Lehman Bros and Bear Stearns declined after Merrill Lynch cut its rating on the stocks to neutral from buy, citing the impact of debt market exposure.
Elena
28 Aug, 2007
New York City
U.S. stock futures looked inclined to lower opening Tuesday, reflecting nervousness ahead of consumer-confidence data and fears that financial markets turmoil will spill over into the broad economy. The Conference Board''s gauge is expected to have dropped sharply. A broker downgrade of three giant investment banks further weighed sentiment down. Citigroup lost 1.2%, Lehman Bros dropped 2.6%, and Bear Stearns slipped 2.9% after Merrill Lynch cut its rating on the stocks to neutral from buy.
Elena
28 Aug, 2007
New York City
The purchase price represents a 17% premium to PolyMedica''s closing stock price Monday. The combined company, Medco-PolyMedica, will serve 3.8 million diabetes patients under treatment. The transaction, which is expected to complete late this year, was unanimously approved by the boards of both companies.
