Elena
14 Feb, 2007
New York City
U.S. stock averages traded higher Wednesday morning, with the Dow hitting a new record high. Caterpillar, Microsoft, Intel Corp. and Verizon led the blue chips higher. Financial stocks like American Express, JP Morgan Chase & Co. and Citigroup also gained. Farm equipment maker Deere & Co. jumped 9% after it posted a bigger-than-expected Q1 profit on strong international equipment sales to $1.04 per share from 99 cents a year ago. The company also boosted its earnings outlook for the year.
Elena
14 Feb, 2007
New York City
U.S. stock markets opened on a positive note on well-received comments from Federal Reserve Chairman Ben Bernanke on inflation, easing concerns that the Fed might raise interest rates later this year. Chip equipment maker Applied Materials boosted tech stocks as it rose 4.3% after reporting tripled quarterly profit. Again in earnings-related moves, restaurant chain operator P.F. Chang''s China Bistro gained 9% although it reported Q4 profit drop of 5%, weighed down by higher costs.
Ivaylo
14 Feb, 2007
New York City
The FTSE 100 breached the 6,400 barrier on Wednesday for the first time in more than six years. Wolseley surged following a report in a newspaper that Cinven was preparing a bid. While an apparent denial from Cinven pulled the stock back, the plumbing and heating products group was still trading higher. Mining stocks continued to benefit from higher metals prices as the price of tin touched an all-time high. By late morning, the FSTE 100 in London was trading broadly flat at 6,379.4.
Elena
14 Feb, 2007
New York City
U.S. stock futures traded higher ahead of Federal Reserve Chairman Ben Bernanke testimony in front of Congress. Among pre-market highlights, DaimlerChrysler rose 4.6% after it announced a recovery plan for its U.S. Chrysler group, including the reduction of its workforce by 13,000 employees. Beverage giant Coca-Cola added nearly 1% in the pre-open as Q4 earnings excluding charges beat analyst estimates.
Elena
14 Feb, 2007
New York City
Coca-Cola said revenue increased 7% to $5.93 billion. Excluding the charge, the company would have earned 52 cents a share, exceeding estimates for earnings of 50 cents a share on revenue of $5.78 billion. Coca-Cola is planning to buy back between $2.5 billion to $3 billion in stock in 2007.
Ivaylo
14 Feb, 2007
New York City
Asian markets ended mostly higher on Wednesday, with Australian benchmark index reaching an all-time high, after industrial-metals and crude-oil prices recovered and as takeover speculation in the metals sector continued. Japan also advanced on strength in large-caps like Sony and Bridgestone while Samsung Electronics led South Korean shares higher. HK rose on Telecom Nutchison and Taiwan also finished higher.
Ivaylo
14 Feb, 2001
New York City
The market opened with a negative bias and plunged further on RBI
Ivaylo
14 Feb, 2007
New York City
European stock markets traded higher by mid-morning on Wednesday supported by strength in the miners and software sectors and overnight gains on Wall Street and in Asia. In London, the FTSE 100 breached the 6,400 level for the first time since December 2000, helped by strength in the mining sector and bid talk surrounding Wolseley. German Xetra Dax added 25.8 points, or 0.4% and CAC 40 in France gained 19.8 points, or 0.4%.
Ivaylo
14 Feb, 2007
New York City
Gold futures reached a six-month high on Tuesday at the New York Mercantile Exchange after the U.S. trade deficit widened more than expected in December. Silver futures followed gold lead and also hit a two-month high. Triggered by a drawdown in inventories, copper futures broke out of a recent range and finished at a nearly two-week high. Oil and the other energy futures gained too.
123jump.com Staff
13 Feb, 2007
New York City
The Commerce Department reported that the trade deficit rose 6.5% in the year 2006 to $764 billion. Imports rose 12.8% and exports gained 10.4%. Market averages gained on buy out speculations for Alcoa. Materials and energy sectors rose as oil and metals prices climbed. Crude futures rose 2% to close above $59 after the International Energy Agency increased its forecast for global oil consumption this year. KB Homes reported a loss of $64 million compared to a gain of $344 million a year ago.
Elena
13 Feb, 2007
New York City
European stocks finished Tuesday session in the positive, boosted by gains from carmakers, airlines and miners. Speculation in the mining sector that BHP Billiton and Rio Tinto are considering a bid for U.S. aluminum producer Alcoa lifted the mining sector. Rio Tinto and BHP Billiton gained about 2.2% each. The French CAC-40 advanced 0.7%, the U.K.''''s FTSE 100 rose 0.5%, and the German DAX 30 added 0.5%.
Elena
13 Feb, 2007
New York City
Wall Street rallied, led by metals-mining stocks with Alcoa rising 8% amid reports that mining companies BHP Billiton and Rio Tinto are considering bids to buy the company for $40 billion. In earnings news, KB Home rose 1% after it swung to a loss in the Q4, citing an oversupply of new and resale homes in the second half of 2006. The auto sector was given a lift by a brokerage upgrade of GM, sending its shares up 3%. DaimlerChrysler gained 2.7%.
Elena
13 Feb, 2007
New York City
U.S. stock markets posted solid advance at opening on well-received news that Alcoa may be the focus of two separate takeover bids, an upgrade of General Motors and news of a large stock buyback by 3M Co. Alcoa surged 7% on reports that BHP Billiton and Rio Tinto are considering buyout bids for the aluminum producer. GM rose 3.3% after Merrill Lynch upgraded its stock, while Ford fell 2.4% on downgrade. 3M rose 2.6% after it announced plans to buy back up to $7 billion of its own shares.
Ivaylo
13 Feb, 2007
New York City
UK market traded higher on Tuesday in spite of weakness in the property sector. The market sentiment was boosted by the news of lower inflation ahead of the release tomorrow of the key inflation report by the Bank of England. Mining stocks were among the leading advancers as the price of copper firmed. British Energy plunged although the company invited partners to build new nuclear power plants. By mid-day, the FTSE 100 was 13.7 points higher at 6,367.1.
Elena
13 Feb, 2007
New York City
U.S. stock futures advanced on Tuesday, boosted by reports of a possible buyout bid for aluminum producer Alcoa, a buyback program announced by 3M and an upgrade of General Motors. Alcoa jumped 7% on news that BHP Billiton and Rio Tinto are considering separate bids. 3M gained 1.2% after the company said it plans to buy back up to $7 billion in shares over the next two years, its biggest buyback plan ever. GM gained 3.5% after Merrill Lynch upgraded the automaker to buy from sell.
