Elena
17 Jan, 2007
New York City
U.S. stock market averages traded lower, pressured by stronger-than-expected wholesale inflation and disappointing Intel results which outweighed strong industrial production report. Shares of Intel were the heaviest drag on the market sentiment, falling 5% on 40% profit drop in Q4. The chip maker also said that gross margins would not improve in 2007. Lennar swung to a Q4 loss from a profit last year. The homebuilder rose 3.9% after its CEO said the company would perform better in 2007.
Elena
17 Jan, 2007
New York City
The Indian benchmark witnessed a session in which banks and capital goods shone, while large-cap technology stocks, like Infosys, Tata Consultancy lost. Despite reporting very strong Q3 results, Wipro also declined. Second-tier IT stocks soared. Power and select auto stocks surged. ICICI Bank led the gainers, together with Reliance Communications and L&T. HDFC Bank and ONGC led the decliners. The government will give more rights to Forward Market Commission in the futures trading.
Ivaylo
17 Jan, 2007
New York City
U.K. stocks declined, led by DSG International Plc after the electronics retailer said profit margins declined. SABMiller Plc limited benchmarks'' losses. The brewer said it sold 10 percent more beer in its third quarter after expanding in emerging markets. While DSG came under pressure, Home Retail Group gained as it said stronger margins had offset weaker sales. The benchmark FTSE 100 Index fell 0.1% to 6210.00, by mid-day in London.
Elena
17 Jan, 2007
New York City
Wall Street opened below the flat line Wednesday, as a higher-than-expected PPI sparked interest rate worries in the market. The Labor Department said that wholesale prices rose by 0.9% in December, raising concerns that the Fed Reserve might raise interest rates to curb inflation. Homebuilder Lennar said that the company swung to a Q4 loss from a profit last year, missing estimates. Lennar posted a quarterly loss of $1.24 a share, compared with profit of $3.54 a share a year earlier.
Elena
17 Jan, 2007
New York City
U.S. stock futures pointed to a flat market opening on Wednesday, with investors
123jump.com Staff
03 Jan, 2008
New York City
U.S. stocks traded sideways for the most of the session. Investors worried that rising commodities prices will fuel inflation. Weekly crude oil inventories declined again at the end of the last week. Jobless claims fell lower than estimated at the end of last week. Gold and oil traded near the record level. Monsanto reported sharply higher earnings. State Street surged after it replaced its chief of fixed income investments and booked $618 million reserves.
Elena
17 Jan, 2007
New York City
Despite the lower quarterly profit reported by the chipmaker, the earnings per shares topped analyst estimates. Intel said it earned 26 cents a share, slightly above forecasts of 25 cents. Fourth-quarter sales, boosted by 40 new products, easily beat forecasts. Sales fell 5% to $9.7 billion vs. views of $9.4 billion. Shares of the company dropped 3.9% in pre-market trading.
Ivaylo
17 Jan, 2001
New York City
Asian shares closed mixed Wednesday as real-estate developers posted strong gains Hong Kong, but plummeted in China, weighing on the overall market. Oil companies lost ground region-wide on falling oil prices. Stocks in Japan rose on steelmakers, real-estate developers and construction companies, while banks declined. In South Korea, technology stocks lost ground on the poor performance of qurterly results of Intel. Resource stocks and banks weighed on Australia.
Ivaylo
17 Jan, 2007
New York City
European shares edged higher on Wednesday morning as investors welcomed updates from brewer SABMiller, chip equipment maker ASML Holding and mobile phone maker Sony Ericsson. Rio Tinto Group led a slide by commodity producers after the mining company said iron ore production fell from a record. The U.K. FTSE 100 index rose 0.1%, the German DAX Xetra 30 index increased 0.2% and the French CAC-40 index advanced 0.1%.
Ivaylo
17 Jan, 2007
New York City
Gold futures ended lower on Tuesday, giving back earlier strength as the U.S. dollar posted slight gains and oil prices suffered from a steep decline. Gold witnessed a choppy session with initial gains being capped and swiftly reversed by dropping oil prices. Oil futures fell more than 3%, losing ground amid conflicting signals from OPEC. Other metals closed mostly lower in Nymex action on Tuesday.
123jump.com Staff
16 Jan, 2001
New York City
Lackluster trading in New York reflected mixed emotions running on wall Street. Drope in oil price and corporate earnings warning drove investors to erratic trading. Internet and Chinese ADR rose but semiconductor and other leading tech stocks failed to rise in the morning trading. Energy stocks rose and transportation stocks fell as oil closed to 19-month low price. Baker Committee said that BP management and CEO Browne failed to implement required maintenance at Texas refinery.
Elena
16 Jan, 2007
New York City
European stocks finished lower on Tuesday, as weakness in mining stocks offset strength in technology companies and a positive start on Wall Street. Some key economic data were also in focus. Shares in platinum producer Lonmin dropped 3.1%. Other miners including Xstrata also declined. In contrast, chip company STMicroelectronics rose 1.7%, while mobile-phone maker Nokia rose 1.5%. The German DAX 30 lost 0.2%, the French CAC 40 fell 0.7%, and London FTSE 100 dropped 0.8%.
Elena
16 Jan, 2007
New York City
U.S. stocks turned lower in morning trading, with investors focused on the first wave of Q4 earnings, weak forecasts from Symantec Corp., and further falling crude oil prices. Intel weighed the most on blue-chip stocks, falling 1% ahead of earnings report after market close. Exxon Mobil also pressured the Dow, losing 1.3% on weak oil prices. Tech shares came under pressure as Symantec slipped 8.5% on disappointing earnings forecast. Cisco Systems also weighed, falling 2.7% on downgrade.
Elena
16 Jan, 2007
New York City
The market witnessed a subdued session, as the stocks in the Sensex showed different trends. Expectations of strong third quarter earnings season stocks in cement, auto and capital goods sector rose. Trading in Infosys and Reliance Industries was lack-luster during the day. BHEL led the advancers, together with ACC and Wipro, while HDFC led the decliners. India will lift the overseas commercial borrowing limit for an individual company to $22 billion from $18 billion.
Elena
16 Jan, 2007
New York City
U.S. stocks opened slightly higher Tuesday, paying little attention to a weaker-than-expected manufacturing report for the New York region and a profit warning from software maker Symantec Corp. The Internet security software maker fell 7.6% after it warned that 2007 profit will come below analyst expectations. In addition, home builder Centex Corp. also warned its Q3 results would miss expectations. Chip maker Intel Corp. is expected to release its results after the closing bell.
