Elena
11 Jan, 2007
New York City
U.S. stock futures traded slightly lower Thursday after a surprising rate hike by the Bank of England. The technology sector was in the spotlight after Cisco Systems filed a lawsuit against Apple Computer Inc. to resolve a trademark dispute over its new iPhone device. Genentech reported 75% profit jump in Q4 on strong demand for its cancer-fighting drugs. The company reported it earned 55 cents per share, higher than 31 cents per share last year, boosted by 38% increase in revenue.
Elena
11 Jan, 2007
New York City
Cisco accuses Apple of violating a trademark which it has owned since 2000, as a result of buying InfoGear. Since December, Cisco''s wireless division, Linksys, has been shipping a family of cordless and wireless phones under the iPhone brand. However, Apple defends its rights, saying that it is entitled to use the name iPhone because the products are materially different.
Ivaylo
11 Jan, 2007
New York City
Japanese index ended lower on Thursday as advances in Tokyo Electron and other technology stocks were unable to counter broader weakness in large-caps in view of the growing worries that the Bank of Japan will raise interest rates no later than next week. Resource shares traded mostly higher on other Asian markets, with investors retuning to the mining sector following a surge in metals prices. Australia gained, but HK and Taiwan declined.
Ivaylo
11 Jan, 2007
New York City
European markets opened on a positive note on Thursday, supported by advances in the mining sector and as shares in German retailer Metro rose aided by a sales update from the group. Technology shares were also doing well in Europe, with mobile phone maker Nokia and chipmaker Infineon Technologies both gaining. U.K. supermarket chain J. Sainsbury was down, however. The U.K. FTSE 100 advanced 0.5%, the German DAX Xetra 30 index gained 0.6% and the French CAC-40 index rose 0.6%.
Ivaylo
11 Jan, 2007
New York City
Investors were of the opinion that the contract move above the $2.59 level triggered new buying in copper after heavy losses since the start of the new year. Gold and silver futures were pressured by a strong U.S. dollar and weak crude oil, yet managed to pare their losses. April platinum went as high as $1,163.90 in electronic activity, its strongest level since Dec. 5. Light, sweet crude for February delivery hit a low of $53.63, the lowest level for a front month contract since June 2005.
123jump.com Staff
04 Jan, 2008
New York City
U.S. stocks fell sharply after weaker than expected employment report for the month of December. Economy created only 18,000 new jobs in the month and for the year generated 1.3 million new jobs, far less than the 2 million target set by the current U.S. administration. Intel lost nearly 10% after UBS cut its rating on the company. Crude oil and gold retreated after the jobs report. Retailers, technology, and consumer sensitive stocks fell sharply. Apple, RIM, Master Card, and Google declined.
123jump.com Staff
10 Jan, 2007
New York City
A familiar weakness in oil dragged crude price another 3% today totaling a loss of 9% for the year. Weekly crude oil inventory data reported a fall in crude oil inventory by 5 million barrels. November month trade deficit declined 1% on lower oil price in the month. Las Vegas Sands rose 11% or $10.40 on the permission for expansion near Macau. Apple, Marvell Tech and New Oriental Education closed up 5%. New York Stock Exchange led group to invest 5% in National Stock Exchange in India.
Elena
10 Jan, 2007
New York City
European stocks ended Wednesday trading session considerably lower, pressured by weakness in the tech and telecom sectors, as well as losses for leading auto companies. Nokia shares dropped 2.2% after Apple introduced its iPhone. Automaker Porsche slipped 0.5%, while Volkswagen shares declined 1.6%. The German DAX 30 slipped 0.7%, the French CAC 40 fell 0.6%, and London FTSE 100 dropped 0.6%.
Elena
10 Jan, 2007
New York City
U.S. stock market averages traded down, pressured by further weakness in the oil and gas sector after a petroleum report showed larger-than-expected increases in U.S. gasoline and distillate inventories. ConocoPhillips dropped 2.5% and Chevron Corp. slipped 1.7%. However, tech stocks rose for a second day in a row, boosted by the introduction of Apple Inc.''s new media-playing cell phone. Apple shares rose 4.6%.
Elena
10 Jan, 2007
New York City
A sell-off in large-caps like ONGC, HDFC, ICICI Bank and Reliance Communications weighed on the benchmark index Wednesday in a broad decline. Weakness in Asian markets and caution ahead of tomorrow
Elena
10 Jan, 2007
New York City
Wall Street started trading in the negative territory on Wednesday, reflecting weak oil prices and a profit warning from a major oil company. Chevron fell 1.6% after it warned that its Q4 profit would be hurt by falling commodity prices. Alcoa helped boost the Dow, rising 4% after it posted better-than-expected earnings. The aluminum producer posted 60% profit jump in the fourth quarter.
Ivaylo
10 Jan, 2007
New York City
Financial stocks plunged following a strong showing in the previous session on comment from Lehman Brothers, stating that it expects the sector to underperform its European peers. Energy stocks were also lower, with Scottish & Southern Energy leading the decliners in the sector. Supermarket William Morrison is the best performer on the market as it reported upbeat same-store sales. By mid-afternoon, the FTSE 100 was down 32.8 points, or 0.45%, at 6.168.
Elena
10 Jan, 2007
New York City
U.S. stock futures pointed to a lower market opening Wednesday due to a drop in Latin American shares and steep declines in oil prices. According to a Commerce Department report, the U.S. trade deficit fell unexpectedly by 1.0% in November to $58.2 billion, marking the third straight decline in the deficit and its lowest level since July 2005. Alcoa rose 4.5% in pre-open after reporting stronger-than-expected Q4 results.
Elena
10 Jan, 2007
New York City
The improved bid followed a rejection of the first bid valued at $8.4 billion. It amounts to $5 billion in cash and 89.5 million shares of US Airways stock, higher than the original offer including 78.5 million shares of US Airways stock and $4 billion in cash.
123jump.com Staff
09 Jan, 2007
New York City
News of job cuts at Sprint Nextel and earnings revision from other companies kept market averages under check. Oil dropped to an eight months low failed to excite traders. Apple released new mobile phone with features of iPod. Venezuela plans to nationalize largest TV network and electric utility. The news dragged the local market index down 19%. Asian markets rebounded after a two-day drop.
