Elena
10 Apr, 2007
New York City
European stock markets closed higher on Tuesday, boosted by merger-and-acquisition news and strength in the shares of DaimlerChrysler. The automaker rose 3.6% after investor Kirk Kerkorian offered $4.5 billion for its Chrysler unit last Thursday. Germany''s Puma AG surged 9.4% as French luxury-goods group PPR offered to buy the sportswear group for about $7.1 billion. German DAX 30 climbed 0.9%, the U.K.''s FTSE 100 added 0.3%, while the French CAC 40 gained 0.4%.
Elena
10 Apr, 2007
New York City
U.S. stocks were little changed on Tuesday morning, as investors remained reluctant to buy stocks ahead of Q1 earnings season. Alcoa, the first company to report, lost 0.6%. The gold sector advanced as the price of gold moved notably higher. Oil service stocks also gained, helped by a rebound by the price of oil. However, computer hardware stocks declined, with Seagate Technology falling 9%. D.R. Horton lost 1.8% after the home builder said orders for new homes fell 37% last quarter.
Elena
10 Apr, 2007
New York City
Cascade surged 10% after it said its Q4 net income rose 24% to 80 cents a share, up from 63 cents a share last year due to revenue increase of 9.7%. 99 Cents Only Stores rose 8% after it reported 2.9% increase in same-store sales in Q4, as total sales rose 9.4% to $277.9 million. Lawson Software gained 2.7% after posting Q3 profit of 6 cents a share, beating expectations.
Elena
10 Apr, 2007
New York City
Wall Street opened near the flat line Tuesday, with investors awaiting reports on how the companies performed during the first quarter. The earnings season kicks off with aluminum producer Alcoa, which is expected to report profit of 75 cents a share. Hard-disk maker Seagate Technology fell 8% after warning that Q3 revenue will come in below an early forecast of $2.9 billion to $3 billion. Dow Chemical fell 2.3% after it announced it is not interested in the leveraged buyout.
Ivaylo
10 Apr, 2007
New York City
London stocks traded higher in midday trade on Tuesday, fueled by strength in the mining sector, as traders took in the latest bid developments after the holiday weekend. Miners BHP Billiton and Rio Tinto canceled losses at J Sainsbury. The FTSE 100 made gains of 0.4%, taking it 25 points higher to 6,422.3, making it up for a neutral start after the four-day weekend.
Elena
10 Apr, 2007
New York City
U.S. stock futures pointed to a flat opening on Tuesday, reflecting cautiousness ahead of the Q1 earnings season and broker upgrades for tech companies Oracle, Applied Materials and Advanced Micro Devices. Aluminum producer Alcoa will be in focus before it reveals its Q1 results, due after the close. Dow Chemical, which surged Monday on speculations that it is the target of a $50 billion leveraged buyout, is likely to decline after it said it is not interested in such offer.
Ivaylo
10 Apr, 2007
New York City
Asian markets closed mixed with profit-taking hurting Japanese benchmark index, while Hong Kong ended higher as investors returned from a long holiday. In Japan, carmakers ended lower, while in HK, the large-caps HSBC Holdings and Sinopec led the market higher. In China, the market hit a record high close for a seventh straight session, while profit-taking in shipbuilders put an end to the advance of the stock market in South Korea.
Elena
10 Apr, 2007
New York City
The brokerage also raised the stock''s 12-month price target to $22 from $20 due to a much strengthened product set across database, applications, middleware. Advanced Micro Devices was upgraded to buy from neutral at UBS, citing a belief that the chipmaker is poised for a rebound in the second half of 2007, as AMD improves its mix and launches Barcelona for servers.
Ivaylo
10 Apr, 2007
New York City
The benchmark index opened with a positive bias but soon plunged into negative territory on selling pressure. Fresh buying interest in HDFC and capital goods sector helped the Sensex recoup earlier losses. Trade was highly volatile but the market-breadth remained positive. HDFC led the gainers, while Satyam led the decliners. Arcelor Mittal has reportedly made an offer for the stake of Mitsui Corp in Sesa Goa.
Ivaylo
10 Apr, 2007
New York City
European markets were higher on Tuesday, as merger activity and weaker oil prices pulled the markets out of their post-Easter subdued state. Deal news helped lift the shares of DaimlerChrylser and Puma while oil companies weighed on the wider market. By mid morning, Frankfurt Xetra Dax added 0.5%. In Paris, the CAC 40 was 0.1% higher and London FTSE 100 was 0.2% higher.
Ivaylo
10 Apr, 2007
New York City
Gold futures declined on profit-taking Monday, weighed down by a late-day slide in crude oil prices, as well as the strength of the dollar, as trading resumed after a three-day holiday weekend. Silver, though, advanced helped by a sharp rise in copper prices. Gold was slightly higher for much of the day, which was linked to light speculative buying in thin conditions. Gold then faltered during the last two hours of the session.
123jump.com Staff
09 Apr, 2007
New York City
U.S. stocks advanced on speculation that private equity buyout will continue to drive stocks higher. The Labor Department said 180,000 new jobs were created in March and the jobless rate fell to 4.4%. Railroad stocks rose on Berkshire stake news. Burlington Northern rose 7%, Union Pacific added 4.9%, Norfolk Southern gained 4%, and CSX moved 2% higher. Vonage Holdings declined 9.5%. American Home Mortgage Investment plunged 16%, while AMD rose 4.5%. Oil and gold fell.
123jump.com Staff
09 Apr, 2007
New York City
U.S. stocks were mixed as uneasiness about interest rates and first-quarter earnings curbed the market optimism about robust job growth and continued takeover activity. The Labor Department report showed non-farm payrolls rose by 180,000 in March, above forecasts of 135,000. The unemployment rate fell to 4.4%. Accredit Home Lenders Holding Co. fell 4.4%. H&E Equipment rose on upgrade, Mirant advanaced on possible company sale and NetLogic gained on revised revenue outlook.
Elena
09 Apr, 2007
New York City
U.S. stocks traded mixed on Monday morning, reflecting cautiousness ahead of Q1 earnings season and modest support provided by deal news and a delayed reaction to Friday''s robust jobs report. Tech stocks traded mixed. Advanced Micro Devices rose 4% although it lowered its Q1 revenue forecast. Semiconductor equipment makers Applied Materials and KLA Tencor Corp. declined 0.2% and 1.3%, respectively.
Elena
09 Apr, 2007
New York City
U.S. stock markets saw a positive start of Monday trading session, lifted by deal news, as well as easing economic growth concerns on the back of robust jobs report. Dow Chemical was sent 6.6% higher by a report, saying that the company is the target of $50 billion leveraged buyout. In other deal news, Dow component Citigroup lost 0.1% after it agreed to buy Taiwan''s Bank of Overseas Chinese for about $426 million in cash.
