Elena
31 Jan, 2007
New York City
U.S. stocks opened mixed on Wednesday, with blue-chip stocks led higher by Boeing Co. The aerospace giant rose 4.5% after it said Q4 profit doubled on 26% revenue increase and boosted its outlook. SanDisk weighed on the Nasdaq with a decline of 9%, as it swung to a Q4 loss from a year ago, hurt by acquisition-related charges. The company reported a net loss of 17 cents a share, compared with net income of 68 cents last year. It said sales surged 55%, but released a soft sales forecast.
Ivaylo
31 Jan, 2001
New York City
The market in UK declined on Wednesday in spite of the takeover battle for Corus which ended on a positive note for the shareholders in the Anglo-Dutch steelmaker. However weakness in financial stocks dragged the benchmark index lower as F&C Asset Management gave a warning that it would reconsider its dividend on a sharp decline in assets. The FTSE 100 was trading lower 23.3 points at 6,218.7 by mid-day on Wednesday.
Elena
31 Jan, 2007
New York City
U.S. stock futures moved to the downside, but data showing faster-than-expected drowth of U.S. economy in Q4 helped to limit losses. The Department of Commerce said that GDP grew at an annual rate of 3.5% in Q4 compared to the 2% rate of growth that was seen in Q3, faster than the 3% growth, anticipated by economists. Investors were also awaiting the Fed''s decision on interest rates and the statement on the interest rate outlook. Economists expect rates to stay at 5.25%.
Ivaylo
31 Jan, 2001
New York City
The market started on a positive note Wednesday, supported by S&P decision to upgrade India sovereign rating to investment but then dived ahead of RBI review of its credit policy. Despite winning the bid for Corus, Tata Steel pulled the market lower in afternoon trade as investors considered it has overvalued Corus in its offer. Tata led the decliners, while Gujarat Ambuja led the gainers. The Reserve Bank of India hiked its short-term lending rate in an effort to curb inflation.
Elena
31 Jan, 2007
New York City
The media giant earned $1.75 billion, or 44 cents a share, up from $1.3 billion, or 28 cents, earned in the same period a year ago. Quarterly revenue rose to $12.47 billion from $11.52 billion last year, reflecting gains in its cable-television and networks divisions. Time Warner
Ivaylo
31 Jan, 2007
New York City
Asian markets finished lower on Wednesday dragged lower by Chinese benchmark index, which declined 4.9. Pprofit-taking pushed markets lower across the region. In Japan, investors were worried about the prospects for a sustainable turnaround in the earnings of Sony. Shares closed lower in South Korea, pulled down by Korea Electric Power and Hynix, while profit-taking in China Mobile led HK lower. Profit-booking was also the reason of the decline in Australian market.
Ivaylo
31 Jan, 2007
New York City
Tata Steel won the battle for Corus and that news buoyed the metal sector, but European markets remained flat on Wednesday as Commerzbank sank and weighed on the stocks. Banco diPopolare di Verona e Novara advanced on upgrade. Novo Nodisk, the Danish pharmaceutical company, bucked the downward trend in pharma stocks and advanced. By mid morning, the FTSE 100 in London lost 0.1%, Frankfurt Xetra Dax shed 0.3% to and the CAC 40 in Paris slid 0.4%.
Ivaylo
31 Jan, 2007
New York City
Gold edged higher on Tuesday, trading within a narrow range as investors remained on the sidelines as the Federal Reserve met to discuss interest rates. The FOMC is widely expected to hold the fed funds rate steady at 5.25%, as it has at each of its past four meetings since August. February gold rose as high as $646, but failed to hold that level as many traders held back ahead of the Fed decision. Copper prices advanced after gaining support from a decrease in copper stockpiles.
123jump.com Staff
30 Jan, 2007
New York City
Uneven trading only reflcted cross currents of information in the market today. 3M earnings disappointed market and stock fell 5%. Motorola jumped 7% on the news that Carl Ichan is seeking to join the company board. Crude oil jumped 5% and natural gas rose 11% on harsher winter conditions in the Northern U.S.European markets closed higher led by Germany.
Elena
30 Jan, 2007
New York City
European stocks closed higher, led by airline stocks. Moves were limited as European investors awaited the Fed Reserve''sa interest-rate decision. Airline companies attracted the most attention, with Alitalia rising 3.8% after the Italian government said it received 11 bid offers. Air France-KLM shares gained 6.7%, as the company didn
Elena
30 Jan, 2007
New York City
U.S. stocks turned modestly higher, with investors cautious before the Fed Reserve''s decision on interest rates. The Dow reversed from earlier weakness, although 3M fell 4.4%, Procter & Gamble fell 1.1%, and Merck lost 1% on quarterly results. Photography and imaging company Getty Images was a notable gainer, rising 8%, despite 29% profit drop in Q4 on restructuring and other costs. The company earned 50 cents per share, down from 64 cents last year. Excluding items, profit beat estimates.
Elena
30 Jan, 2007
New York City
Wall Street saw a mixed performance at opening on Tuesday, with the Dow pressured by 6% decline for 3M Co. on a disappointing profit outlook. Merck also weighed on the blue-chip average, falling even after its earnings, excluding special items, matched forecasts. Similarly Procter & Gamble fell 1.4%, despite raising its earnings outlook. Investors weighed its organic sales growth, which came in at the lower end of its guidance.
Ivaylo
30 Jan, 2007
New York City
The FTSE was lower by mid-day on Tuesday as weakness in the mining sector remains the dominant feature with copper prices volatile and an uninspiring production statement from Kazakhmys unsettling its rivals as well. Other miners were also week including Vedanta, Antofagasta, Xstrata and Lonmin. Corus is one of the advancers as the auction between Tata and CSN draws to a conclusion later today. In the wider market, the FTSE 100 shed 18.6 points to 6,221.5.
Ivaylo
30 Jan, 2007
New York City
Tata Steel, resource company, has reported a Q3 consolidated net profit increase of 27.3%. Net revenues advanced 18.86%, while revenue from steel business advanced more than 20%. Total income grew considerably. Tata is reportedly considering a sweetened bid for Corus ahead of the auction. Tata competes with CSN of Brasil. The shares of Tata finished Rs10 higher yesterday on BSE.
Elena
30 Jan, 2007
New York City
U.S. stock futures pointed to a higher opening on Tuesday, lifted by upbeat earnings results. Blue chip company Procter & Gamble reported 12% profit increase in Q2 and lifted its annual profit guidance. Colgate-Palmolive posted better-than-expected results, while Dow component 3M Co. posted 58% profit rise, which matched expectations excluding items.
