Elena
12 Apr, 2007
New York City
U.S. stocks reversed from early losses, as investors turned to bargain hunting, looking past warnings of lighter retail sales in April, losses for Research in Motion and rising oil prices. The major averages benefited from significant strength among biotechnology stocks, led by MedImmune which surged 12% on news that it is considering a sale of the company.
Elena
12 Apr, 2007
New York City
Genentech said Q1 profit surged 68% and sales climbed 43% although sales of two of its key cancer treatments came in lower on a sequential basis. The stock dropped 2.5%. Nautilus tumbled 16.3% after it cut its Q1 earnings forecast to the range of 8 cents to 9 cents a share, down from a previous forecast of 18 cents to 21 cents on revenue of $185 million to $195 million. MarineMax dipped 15% after it sharply cut its 2007 profit guidance. Men''''s Wearhouse fell 6% on disappointing outlook.
Elena
12 Apr, 2007
New York City
Wall Street opened in the negative despite strong retail sales in March. The negative sentiment was generated by warnings of lackluster sales in the month of April. Wal-Mart fell 0.7% following a stronger-than-expected results but a tepid outlook for April. Abercrombie & Fitch added 2.3% after posting 7% growth in March same-store sales, while Pacific Sunwear surged 7% as its same-store sales rose 14%. Pier 1 Imports lost 1% after reporting a decline in Q1 same-store sales and a quarterly loss.
Ivaylo
12 Apr, 2007
New York City
The UK market continued to decline in mid-day trade on Thursday, as expectations for further deal-making activity faded away, leading to losses for companies loosely linked with potential bids. Large-caps were well below their start point despite an upbeat trading statement from SABMiller as the brewer reported full year trading in line with management''''s expectations. The FTSE 100 fell 0.4 % to 6,387.4, a decline of 25 points.
Elena
12 Apr, 2007
New York City
U.S. stock futures turned lower on Thursday, as investors digested warnings of weak retail sales and data showing higher-than-expected rise in jobless claims. Wal-Mart said its March same-store sales rose 4%, exceeding expectations of 1.6% increase. J.C. Penney Co. reported 10.6%same-store sales rise, boosted by strength in apparel categories. In earnings news, Genentech said Q1 profit surged 68%. Research in Motion fell 7% after it missed forecasts and gave a disappointing profit outlook.
Ivaylo
12 Apr, 2007
New York City
Asian markets finished mostly in negative territory on Thursday, as export-related stocks declined on worries that slower economic growth in the U.S. could hurt demand for their products, but strong gains and earnings expectations buoyed indexes in China and South Korea to record highs. In Japan, stocks fell after minutes of the last U.S. Federal Open Market Committee meeting, indicating possible new rate hikes.
123jump.com Staff
09 Jan, 2008
New York City
Property stocks and gold miners helped the market recoup early losses in Hong Kong trading. Hang Seng index bucked the downtrend in the morning session rising to a six week high at 1.9% or 502.95 at 27,615.85. Gold stocks climbed after record gold price.
123jump.com Staff
09 Jan, 2008
New York City
Stocks in Mumbai edged lower after a rise in the last six days of trading. Sensex in Mumbai closed down 4 or 0.2% to 20,870. Of the stocks traded on BSE, 757 shares advanced, 2,137 declined, and 25 remained unchanged. Of the BSE shares, Reliance Industries declined 0.6% to 3,031.95 rupees. Bharat Heavy Electricals shed 2.02% to 2,443.80 rupees, Larsen & Toubro slid 0.07% to 4,329.8 rupees while Suzlon Energy 1.4% to 2,241.6 rupees.
123jump.com Staff
09 Jan, 2008
New York City
November retail sales in Australia rose 0.8% after a revised October sales increased 0.3%. The news lifted Australian dollar but failed to lift ASX 200 Index in Sydney trading. Investors worried that the U.S. economy may be heading for recession sooner than expected. Commonwealth Bank of Australia, the third bank, to increase intertest rates in the last one week.
123jump.com Staff
09 Jan, 2008
New York City
The Japanese indices lost in the morning trading affected by the overnight U.S. declines, but in the afternoon session investors resumed hunting for bargain buys. In late Tokyo trading, the dollar advanced to mid 109-yen levels. Nikkei 225 bucked a 0.2% decline by mid-day slump to close up 0.49% or 70.49 to 14,599.16, while the broader Topix Index soared 19.26 to 1,422.32.
Elena
12 Apr, 2007
New York City
The biggest food and drink company in the World Nestle announced Thursday that it agreed to buy Gerber Products from pharmaceutical maker Novartis in a deal valued at $5.5 billion. Gerber is the leading company in the U.S. baby-food market with a 79% share. The acquisition will help the company''s nutrition business generate annual sales of close to $8.2 billion. The deal is expected to be completed during the second half of 2007.
Ivaylo
12 Apr, 2007
New York City
The benchmark index opened with a negative bias and soon plunged to an intraday low, but steady buying in Bajaj Auto and Infosys helped to market to recoup losses in late noon deals. Then trading was subdued and the Sensex ended with a loss. Bajaj Auto and Infosys led the advancers, while ONGC and Tata Steel performed the worst. Industrial production advanced 11% in February 2007 from a year earlier, slightly lower than upwardly revised annual growth of 11.4% in January 2007.
Ivaylo
12 Apr, 2007
New York City
European markets declined on Thursday after an overnight drop on Wall Street in response to hints from the Federal Reserve at the possible need for further US interest rate hikes. US stocks dipped on Wednesday as minutes from the Fed
Ivaylo
12 Apr, 2007
New York City
Copper futures gained once again Wednesday, supported by ongoing demand from China. In precious metals trading, gold ended nearly unchanged, and silver ended slightly lower. Platinum and palladium finished higher with help from fund buying. In Nymex energy trading, crude oil futures gained, but contracts for deferred delivery settled lower after the Energy Information Administration posted a mixed inventory report.
123jump.com Staff
11 Apr, 2007
New York City
Stocks tumbled as minutes of the latest Federal Reserve policy meeting showed continued concern about inflation and U.S. realtors forecast a slump in home sales. The Fed officials worried that interest rates hikes may be needed to curb inflation. A strong profit report from blue-chip Alcoa, which kicked off the earnings season, failed to overcome the bearish sentiment. Citigroup fell 1.6%, Wal-Mart down 1.7%, Disney fell 1.7%, and Honeywell closed down 1.6%.
