123jump.com Staff
11 Apr, 2007
New York City
U.S. stocks stumbled after minutes from the Federal Reserve''s most recent meeting said more interest rate hikes might be necessary to curb inflation. Benihana climbed 5.9%. Manor Care gained 9% after the operator of nursing homes and rehabilitation centers announced it hired JPMorgan to explore strategic alternatives. Chicos rose 7% on 5% rise in same-store sales.
Elena
11 Apr, 2007
New York City
European stock markets finished in the red on Thursday, pressured by cautiousness on Wall Street ahead of a speech by Fed Reserve Chairman Bernanke. European metals stocks traded mixed, with mining giants Rio Tinto and BHP Billiton losing ground but Xstrata rising 0.8%. Oil companies helped to limit losses, as oil prices kept above $61 a barrel. BP added 0.9%, Total gained 0.7%, Repsol shares rose 1.1%. The U.K.''s FTSE 100 lost 0.1%, the German DAX 30 lost 0.2%, the French CAC 40 fell 0.3%.
Elena
11 Apr, 2007
New York City
U.S. stock market averages moved further to the downside after the U.S. government reported the ninth straight weekly drop in the nation''s gasoline inventories, raising concerns about supplies ahead of the peak driving season. The energy report sent the Dow Jones nearly 80 points lower. General Motors dropped 2.2%, IBM fell 1.3%, Caterpillar lost 1.1%, Citigroup declined 1.8%, and Dupont was down 1%. Housing, biotech and health insurance stocks showed weakness, while gold stocks advanced.
Elena
11 Apr, 2007
New York City
Among notable movers, Biolase Technology, dental and cosmetic laser maker, warned it will post a Q1 loss and lower-than-expected revenue. Company''s shares tumbled 24%. American Medical dropped 13.3% after the company said it will miss its Q1 revenue forecast due to supply chain problems.
Elena
11 Apr, 2007
New York City
U.S. stock markets opened in the negative, as cautiousness ahead of a speech by Fed Reserve Chairman Bernanke and the release of the FOMC minutes offset the positive sentiment, generated by upbeat earnings from Alcoa and job cuts at Citigroup. Alcoa shares rose 1.4% after it posted a 9% rise in Q1 profits and an upbeat outlook for the year. Citigroup lost 1% after it announced plans to reduce 17,000 jobs worldwide.
Ivaylo
11 Apr, 2007
New York City
London equities moved higher in mid-day trade on Wednesday, with Marks & Spencer the latest retailer to advance on bid speculation, involving a private equity. The developments occurred as investors continued to believe the CVC-led consortium bidding for J Sainsbury was unravelling. Miner Xstrata also surged. The FTSE 100 was 0.2 5 higher at 6,432.6, an advance of 15 points.
Ivaylo
11 Apr, 2007
New York City
Asian markets finished mostly higher, as bargain-hunting powered the advance in Japan, while strong earnings expectations buoyed South Korean benchmark index to a record high. Japanese stocks were led by selected electronics and pharmaceutical issues, as a weaker yen and firm U.S. shares overnight boosted sentiment. Hong Kong closed with a fifth straight session of gains lifted by large-cap rally.
Elena
11 Apr, 2007
New York City
Wall Street looked poised for higher opening on Wednesday before the release of last FOMC minutes. The pre-market sentiment was boosted by better-than-expected quarterly figures released by Alcoa and cost-reduction moves by Citigroup. Shares of aluminum producer Alcoa rose 2.2% in pre-open trading after the Dow component posted earnings of 79 cents a share on $7.9 revenue increase, topping expectations of earnings of 76 cents a share and revenue of $7.6 billion.
Elena
11 Apr, 2007
New York City
Citigroup, the U.S. biggest financial institution, announced it will reduce its work force by about 17,000 jobs as part of a restructuring plan aiming at lower costs and improved profit. The bank said in a statement that the overhaul will save the bank about $2.1 billion in 2007, $3.7 billion in 2008 and $4.6 billion in 2009.
Ivaylo
11 Apr, 2007
New York City
The benchmark index opened with a positive bias and surged in morning trade but later in the session, profit-taking at higher levels pushed the Sensex lower in a range-bound trading. The market-breadth was strong as intense selling occurred in small-cap and mid-cap stocks. Hindalco was the top advancer, while Ranbaxy led the decliners. The four lead players in the Doha Round are holding bilateral meetings ahead of a new attempt to save negotiations.
Ivaylo
11 Apr, 2007
New York City
European equity markets recaptured six-year highs on Wednesday, with oil companies picking up from recent weakness after Royal Dutch Shell settled claims from investors over its reserves restatement. Oil companies rallied following recent weakness related to a sharp fall in crude prices. Frankfurt was up 0.3%, while the CAC 40 in Paris gained 0.2% and London FTSE 100 was 0.2% higher.
Ivaylo
11 Apr, 2007
New York City
Gold and silver futures climbed Tuesday to their strongest levels in more than five weeks, supported by a lower U.S. dollar, worries about Iran and firmer base metals. During the day much of the gold and silver advances were attributed to the sharply weaker U.S. dollar, which in turn was largely due to a possible trade war brewing between the United States and China.
123jump.com Staff
10 Apr, 2007
New York City
U.S. stocks rose after an increase in oil prices improved the earnings outlook for energy companies and analysts said Applied Materials revenue may beat forecasts, stock advanced 4.1%. International Council of Shopping Centers-UBS Retail Chain Store Sales Index increased by 0.9%. On the year, chain-store sales were up 4.0% in the week to April 7. Alcoa reported profit rise of 9% or 75 cents per share on 15% rise in Aluminum prices.
123jump.com Staff
10 Apr, 2007
New York City
Mexcio based cement company Cemex agreed to purchase Australian building materials makers Rinker for $14.2 billion. Cemex revised its offer by 22% and agreed with the U.S. Justice Department to sell 39 facilities in Arizona and Florida to maintain price competition. The five-month takeover offer from Cemex was not rivaled by any other offer. Cemex recently purchased for $5.8 billion RMC Group in the U.K.
123jump.com Staff
10 Apr, 2007
New York City
Stocks were mostly higher as investors refrained from major moves ahead of first-quarter earnings reports that begin with Alcoa Inc.''s results. D.R. Horton Inc., the nation''s largest homebuilder by deliveries, said its second-quarter sales orders fell 37%. Citigroup Inc. rose 63 cents ahead of a major restructuring announcement in which some jobs of 26,000 or 5% of global workers will be reassigned or eliminated. DivX, United Rentals and Renovis advanced.
