Elena
04 May, 2007
New York City
U.S. stock futures advanced Friday, lifted by moderately slowing jobs growth and deal speculation that Microsoft Corp. is planning to launch a $50 billion bid for Yahoo. The Labor Department said that U.S. job growth slowed to 88,000 in April, vs. the average economist estimate of 100,000. The unemployment rate gained 4.5% from 4.4%, in line with expectations.
Ivaylo
04 May, 2007
New York City
Asian markets finished mostly higher, buoyed by the record close on U.S. market overnight. Gains in property stocks saw Hong Kong benchmark index rise for the third-straight session, while in Australia, the market surged to record highs on solid gains from the large-cap miners and on an improved inflation outlook. South Korea edhed higher.
Ivaylo
04 May, 2007
New York City
The market opened with a positive bias Friday on firm global markets but soon plunged into negative territory as Reliance Industries slumped on an unfavorable court decision. The benchmark index ended the week with a marginal gain. HDFC led the decliners today, together with Reliance Industries, while Cipla and Hindalco were the best performing stocks. Inflation for the week ended April 21 decreased. The government recast the tax on Employee Stock Options.
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.
