Elena
23 Jan, 2007
New York City
The market opened with a positive sentiment but soon took a plunge due to heavy selling in large-caps. Cement stocks led the decliners hurt by the decision of the government to abolish customs duty on cement import. Bharti Airtel was a stand-out among large-caps on its strong Q3 results, while Dr Reddy
Elena
23 Jan, 2007
New York City
U.S. stocks opened little changed on Tuesday, with investors eyeing a new batch of corporate earnings reports. A disappointing outlook from Lucent-Alcatel was countered by strong financial results at Bank of America and Johnson & Johnson. Home builder D.R. Horton posted Q1 net income drop of 65% to 35 cents a share, down from 98 cents last year, but above analyst estimates of 33 cents a share. The stock rose 3.2% in early trading.
Ivaylo
23 Jan, 2001
New York City
Tate & Lyle weighed heavily on FTSE 100 in UK on Tuesday, as the company tumbled after it warned of slower-than-expected sales. The news impacted market sentiment negatively and hurt other food processors, raising the prospect of slower demand across the sector. On the other hand, retailers advanced as traders interpreted a report into the the UK grocery market as relatively benign. By mid-day, the FTSE 100 was 19.2 points lower to 6,199.2.
Elena
23 Jan, 2007
New York City
U.S. stock futures pointed to a flat market opening Tuesday, with a downbeat outlook from Alcatel-Lucent further weighing on the tech sector. Shares in the company dropped 11% in pre-open after it warned that on an adjusted basis, it wouldn''t make any operating profit at all in Q4. On a positive note, chip maker TI rose 3.4% on stronger-than-expected profit and an upgrade at Merrill Lynch. S&P 500 futures fell 1.40 points, Nasdaq 100 futures slid 3.75, and Dow dropped 9 points.
Elena
23 Jan, 2007
New York City
The chip maker earned $668 million, or 45 cents per share, compared with $655 million, or 40 cents per share last year. Revenue rose by 4% to $3.46 billion from $3.32 billion in the same period a year earlier. The quarterly results exceeded analyst estimates for earnings of 38 cents a share on revenue of $3.43 billion. TI released lower-than-expected Q1 earnings forecast. The company also said it would eliminate 500 jobs over the coming year by closing the Dallas chip plant.
Ivaylo
23 Jan, 2001
New York City
Asian stocks finished mixed as Japan declined slightly on overnight drops on U.S. markets. Hong Kong ended flat while Shanghai extended its recent gains. In Japan, sentiment was impacted negatively as growing concerns in U.S. over technology companies led investors to pull money out of the market. In Hong Kong, developers pushed the index lower. South Korea fell as LG Electronics dipped. Shanghai closed higher on expectations that Industrial Bank will post big gains.
Ivaylo
23 Jan, 2007
New York City
European markets edged higher on Tuesday as modest gains for heavily-weighted banking and oil stocks, as well as miners and retailers helped offset falling techs following an earnings warning from Alcatel-Lucent, which declined more than 8%. Cap Gemini and Ericsson were worst hit, while miners Rio Tinto and BHP Billiton gained. In early trade, the FTSE 100 in London added 0.2%, Frankfurt Xetra Dax was flat, and the CAC 40 in Paris was fractionally higher.
Ivaylo
23 Jan, 2007
New York City
Gold futures faced late-day profit-taking and settled lower Monday after following the energy markets. Gold was steady, but then gave back once oil backed off. Traders are sidelined ahead of the President''s State of the Union Address on Tuesday. Silver advanced as well as palladium, while platinum dropped. The last day of trade for the February crude oil contract saw oil prices slumped.
123jump.com Staff
22 Jan, 2007
New York City
Gap Inc reported that its board has agreed to replace its current CEO and President Paul Pressler. Gap has struggled during the last four years of his tenure to reignite its several brands and kick-start sales growth. Investors and customers have not been impressed with results. The competitive casual apparel market has shifted its focus from streamlined unisex looks to more tailored and multi color outlooks.
123jump.com Staff
22 Jan, 2007
New York City
Investors showed a familiar worries on tech stock earnings and dragged tech heavy Nasdaq down 0.8%. Motorola profit warnings and lower than estimated profit at IBM and Intel kept investors selling tech stocks during the day. Boeing downgrade did not help either. Eaton fell on worries that lower truck production will hurt orders. Pfizer reported that it will lay-off 10,000 people to save $1 billion a year. Natural gas futures rose 6%.
Elena
22 Jan, 2007
New York City
European stocks reversed from early gains to close in the negative on Monday, pressured by weakness in the technology sector caused by earnings concerns in U.S. markets. Nokia fell 1% in Helsinki, while chipmaker STMicroelectronics dropped 2.1% in Paris. Shares of Royal Philips Electronics slipped 1.7%. The U.K.''s FTSE 100 fell 0.3%, the French CAC-40 index dropped 0.6%, and the German DAX Xetra 30 index dropped 0.9%.
Elena
22 Jan, 2007
New York City
Stocks fell steeply lower as negative sentiment for the tech sector, a notable rebound in oil prices, and a downgrade of Boeing led investors to pull money out of the market. The Nasdaq dropped 1%, with Cisco Systems falling 1.5% after JMP Securities downgraded its stock. The biggest drag on the Dow was Boeing, with shares down 3.1% after a brokerage downgrade. Among blue-chip tech stocks, Sun Micro fell 1.4% while Intel rival Advanced Micro Devices dropped 1.8%.
Elena
22 Jan, 2007
New York City
In a session of mixed trend, the market closed marginally higher. Ranbaxy Labs, Dabur India, and Siemens declined but Jet Airways and Maruti Udyog surged on earnings. Satyam led the decliner. Higher inflation expectations moderated market mood on the worries of another interest rate hike. Socialist parties controlled states rejected Central Government pension reform.
123jump.com Staff
22 Jan, 2007
New York City
U.S. stocks opened mixed on Monday, reflecting merger activity and hopes of a rebound in the tech sector after last-week losses. Shares of Sun Microsystems rose 1.1% on news that it was near an agreement to use Intel chips. As a result, AMD shares slipped 1%. Intel shares added 0.5%. Boeing weighed on the Dow after it was downgraded to market perform from outperform by Wachovia on concerns that the commercial aircraft order cycle has peaked. The stock fell 2.6%.
Ivaylo
22 Jan, 2007
New York City
The FTSE advanced on Monday as bid speculation continued to boost InterContinental Hotels Group. The mining sector was still showing gains on bargain hunting after recent declines and firmer metal prices. But Pearson fell despite saying it was on track to post record profits for the last year. British Airways was another decliner, together with materials company Wolseley. By mid-day, the FTSE 100 gained 25.6 points, or 0.2%, to 6,262,8.
