Elena
16 May, 2007
New York City
Compuware surged 14.5% after it reported 20% earnings increase in Q4. Jack in The Box was another earnings-related gainer, rising 3.6% after posting better-than-expected profit rise of 25% as revenue grew 6.8% to $660.7 million. Deere & Co. declined 1.8% on the back of 16% drop in Q2 earnings. Arcelor Mittal fell 1.2% after it reported 40% increase in Q1 profit on 17% higher sales. The company also projected higher Q2 earnings, driven by higher prices.
Elena
16 May, 2007
New York City
U.S. stocks advanced at opening on Wednesday, reflecting mixed housing data, speculation about Citigroup and a cautious outlook at chip-equipment maker Applied Materials. Dow component Citigroup jumped 3% after hedge-fund manager disclosed he bought more than 15 million shares in the bank. Tech stocks were pressured by Applied Materials which fell 4.6% after forecasting flat Q3 sales and up to a 15% drop in orders. Rival chip equipment makers KLA-Tencor fell 2.1% and Lam Research slipped 2.7%.
Elena
16 May, 2007
New York City
U.S. stock futures moved slightly higher on Wednesday. Pre-market sentiment was supported by Citigroup which rose 1.7% after a hedge-fund manager bought the stock, but a cautious outlook at chip-equipment maker Applied Materials weighed, sending the stock down 4.2%. The Commerce Department posted mixed housing data, as U.S. home builders pulled back on filing for permits to build homes in April, but housing starts advanced.
Ivaylo
16 May, 2007
New York City
Asian markets finished higher on Wednesday with Japanese shares advancing despite drops from its building sector, while gains in large-cap stocks pushed Hong Kong slightly higher. Financial companies and makers of alcoholic beverages aidded Chinese recovery from losses yesterday. Australia, South Korea and Singapore also finished in positive territory.
Elena
16 May, 2007
New York City
The eye-care company announced on Wednesday that it agreed to be acquired by affiliates of private equity firm Warburg Pincus in a deal worth $4.5 billion. The acquisition deal includes about $830 million in debt. Under the terms of agreement, affiliates of Warburg Pincus will acquire all of the outstanding shares of Bausch & Lomb common stock for $65 a share in cash. The stock jumped 9.5% in pre-market trading.
Ivaylo
16 May, 2007
New York City
A weak real estate sector and poorly received update from fashion retailer Next has offset gains from miners and strong figures from Compass on Wednesday, sending the benchmark index a slightly lower. The FTSE recovered from earlier losses by mid-day after the the Bank of England indicated that inflation would decline later in the year. The FTSE 100 fell 5 points, 0.1%, to 6,564.4.
Ivaylo
16 May, 2007
New York City
The benchmark index traded firm throughout the day on strong performances from banking, telecom, media and property stocks. Trading intensified toward the end of the session when a rally in Reliance Industries boosted the market. SBI, Bajaj Auto, Tata Motors all advanced sharply. Hero Honda, Infosys and TCS led the decliners. Indian billionaire Vijay Mallya has bought the Scottish whisky distiller Whyte & Mackay.
Ivaylo
16 May, 2007
New York City
Losses for banking stocks sent European stock markets lower on Wednesday, paring gains for oil stocks and carmakers. Banks dipped, led by Credit Agricole after the French lender reported first-quarter net profit that failed to meet market forecasts. In mid morning trade, Frankfurt Xetra Dax lost 0.2%, the CAC 40 in Paris shed 0.2% and London FTSE 100 was flat.
Ivaylo
16 May, 2007
New York City
World raw sugar futures sank to 2-year lows on the New York Board of Trade Tuesday on funds selling positions amid raising estimates for world surplus this year, with big crops anticipated in Brazil, India and other nations. Precious metals settled up, with only palladium bucking the trend. In energy stocks, all ended on a positive note, except for natural gas which slumped.
123jump.com Staff
15 May, 2007
New York City
U.S. stocks showed a rally in oil, railroads and banks but tech stocks declined on inflation and housing report. The rally that started in the morning failed as mid and small cap stocks fell. Crude oil and gold rose as dollar continued to weaken. The Brazil currency rose to a six year record and currencies in Asia rose as well. Wal-Mart, Home Depot and Limited earnings kept investors away. Reuters and Thomson agreed to merge and Daimler sold Chrysler divison. Europe and Mexico closed lower.
123jump.com Staff
15 May, 2007
New York City
U.S. stocks rose on stable inflation report. Home Depot shares fell 0.9% as well as Wal-Mart shares dropped 0.7% after releasing earnings. General Motors gained 4% on analyst upgrade at Lehman Bros. Altana topped the list of Biggest Percentage Price Gainers on the New York Stock Exchange. Limited stock was halted ahead of the news from the company. Dow Jones Industrial Average is up 8.5% in the last 30 trading days. Brazil currency real rose to a six-year high.
Elena
15 May, 2007
New York City
European stock markets gained ground on Tuesday, boosted by in-line-with-expectations U.S. core inflation data. The upward move was also contributed by deal-related and earninga gains. Reuters rose 3.4% after it agreed to back a $17.2 billion takeover from Thomson Corp. Building-materials supplier Hanson rose 4.7% as Germany''s HeidelbergCement agreed to pay 8 billion for it. The U.K.''s FTSE 100 added 0.2%, the German DAX Xetra 30 rose 0.6%, and the French CAC-40 advanced 0.4%.
Elena
15 May, 2007
New York City
U.S. stock averages moved higher, sending the Dow industrials to an all-time high, as tame inflation data offset disappointing earnings from Home Depot and Wal-Mart Stores. In corporate news, Tyco International agreed Tuesday to pay about $3 billion to settle shareholder claims that arose after former CEO Dennis Kozlowski and other top officers were charged with multiple counts of grand larceny, conspiracy, securities fraud and falsifying business records. Tyco shares gained 1.4%.
Elena
15 May, 2007
New York City
Biotech company Amgen dropped 5%, dragging both the Nasdaq and the S&P 500 index down after Medicare proposed limiting payments for its anemia drugs in response to safety concerns. On the positive side, Boeing shares rose 1.5%, while shares of General Electric climbed 1.1%. Both industrial conglomerates advanced on optimism thart the Fed Reserve will cut interest rates in the near future to boost slowing economy.
Elena
15 May, 2007
New York City
U.S. stocks opened mixed Tuesday. Hopes that the Fed Reserve will cut interest rates amid weaker-than-expected consumer price inflation in April generated positive sentiment, but disappointing results from Home Depot and Wal-Mart Stores weighed. Home Depot lost 1.7% after posting a 30% profit decline in Q1, missing expectations. The retailer also said annual earnings would be at the low end of its outlook.
