Elena
29 Jun, 2007
New York City
While Research In Motion rallied 20% on quarterly earnings, shares of Palm declined 5% after the maker of the Treo smart phone reported a 43% drop in quarterly profit. Quarterly revenue also fell slightly to $401.3 million compared with $403.1 million last year. Analysts had been expecting earnings of 15 cents a share on revenue of $406.6 million for the period. Earnings were hurt by growing expenses related to the development of new products.
Elena
29 Jun, 2007
New York City
U.S. stocks rallied at opening on Friday, reflecting end-of-quarter purchases, tame inflation data, as well as strength in the tech sector as Research in Motion posted robust quarterly earnings and Apple launched the iPhone. RIM jumped 17% after the Blackberry maker announced a 76% gain in revenue and a 73% rise in profit in Q1. Apple added 1.2% in early trading. Shares of Palm declined 4.3% after the maker of the Treo smart phone reported a 43% drop in quarterly profit.
Ivaylo
29 Jun, 2007
New York City
The UK benchmark index declined on Friday despite BT Group advance after its chief executive made a strong comment on the company
Elena
29 Jun, 2007
New York City
U.S. stock futures indicated a postive market opening on Friday following a report which showed the lowest inflation reading since March 2004. The Commerce Department said that core consumer prices rose 0.1% in May, coming in line with expectations. Among pre-market highlights, Research In Motion surged 20% after posting 73% earnings jump on strong BlackBerry sales.
Ivaylo
29 Jun, 2007
New York City
Asian markets finished mixed Friday with China and Hong Kong settling down while exporters led Japan higher. In HK, profit booking in large-caps pulled the market lower, while Chinese stocks fell as the market is still apprehensive of government
Elena
29 Jun, 2007
New York City
First-quarter earnings per share came in at $1.17, much higher than 67 cents the previous year. Quarterly results beat analyst expectations of $1.06 per share for the recent period. Revenue for Q1 rose nearly 77%, coming in at $1.082 billion compared with $613.1 million last year. The company contributed the robust quarterly earnings to strong BlackBerry sales.
Ivaylo
29 Jun, 2007
New York City
The market surged on a rally in large-cap stocks, a smooth rollover of June derivatives and softer weekly inflation. Banking and cement stocks soared, while metal stocks tumbled. The market-breadth was strong as there were three gainers for every two decliners. Reliance Energy and HDFC bank rallied, while Hindalco plunged. Wholesale inflation rate declined to a 13-month low and the rupee rose for a second day in a row.
Ivaylo
29 Jun, 2007
New York City
European stocks advanced slightly on the final day of the second quarter, with investors giving initial response to a statement from the U.S. Federal Reserve that cautiously acknowledged progress on economic growth and inflation. Traders are wary, though, as there is a host of economic data ahead, including a final reading of first-quarter U.K. GDP, euro-zone inflation, and U.S. core inflation. The German DAX 30 gained 0.2%, the French CAC 40 rose 0.2% and the U.K. FTSE 100 slipped 0.1%.
Ivaylo
29 Jun, 2007
New York City
Gold futures advanced modestly Thursday as the U.S. dollar softened and oil prices gained on worries about gasoline and heating oil supplies. In other commodities markets, agriculture products ended mixed while industrial metals largely climbed as stockpiles of copper, zinc and lead held by the London Metal Exchange dipped.
123jump.com Staff
28 Jun, 2007
New York City
U.S. left short term rates unchaged at 5.25%, nearly for a year, citing moderating core inflation and steady economic growth. First quarter GDP growth was revised to 0.7% from 0.6% by the Commerce Department. Weekly unemployment claims fell by 13,000 at the end of last week. Bed Bath & Beyond fell 4% on lower than expected earnings. European markets closed higher across the region. Shanghai fell 4%. Oil inched towards $70 per barrel.
Elena
28 Jun, 2007
New York City
European stock markets gained ground on Thursday, boosted by solid gains among oil and gas shares, ahead of the Federal Reserve
Elena
28 Jun, 2007
New York City
U.S. market averages traded mixed, as investors showed reluctance to making big moves ahead of the Fed Reserve''s decision on interest rates. Strength in the energy sector provided some support. Crude oil prices topped $70 a barrel, sending energy stocks up. Despite the higher oil prices, airlines advanced after JP Morgan upgraded six airline stocks. Alaska Air jumped 5%, American Airlines and UAL Corp. rose 3.5% each, while Continental Airlines added 2.8%.
Elena
28 Jun, 2007
New York City
General Motors announced that it agreed to sell its Allison Transmission business for $5.6 billion to the private equity firm Carlyle Group and Onex Corp. The sale includes seven manufacturing plants in Indianapolis and its global distribution network and sales offices. The deal, which is subject to union and regulatory approval, is expected to complete in Q3. General Motors shares rose 2%.
Elena
28 Jun, 2007
New York City
Wall Street opened mixed on Thursday ahead of the Fed Reserve''s decision on interest rates. Investors were also digesting a key reading on inflation. Gross domestic product in Q1 was revised to 0.7% from 0.6% previously, while core consumer prices rose at a 2.4% annualized pace in the quarter, revised up from the 2.2% rate previously projected.
Ivaylo
28 Jun, 2007
New York City
Property stocks led the FTSE 100 in London higher with British Land, Liberty International and Land Securities the main gainers. The rebound is also significant as the property sector has been the worst performing one since the turn of 2007. Strong closes in the U.S. market overnight and Asian markets today also supported the index. Advances in the oil sector and in Vodafone also brightened sentiment. The FTSE 100 was 0.5% higher.
