123jump.com Staff
02 Apr, 2007
New York City
U.S. market after more than four hours trading lacked a firm direction despite steady flow of deals. Weaker than anticiptated report on manufacturing took toll in the morning trading. Books-A-Million reported a 35% rise in profit. Simclar rose on five-fold jump in earnings. Allot Communications fell on lowered revenue guidance and First City Financial fell on news that it will delay its annual report filing.
123jump.com Staff
02 Apr, 2007
New York City
Market averages in Europe rose at close on steady news of deals. Telecom Italia received a joint bid from AT&T and American Movil for an indirect control. The bid lifted telecom stocks across the region. Iberia and Teleofinica rose on possible deals. Telecfonica is likely fetch significantly less than what they paid for Endelmol Entertainment. Retail stocks in the UK rose on possible higher bids for Alliance Boots and Sainsbury.
123jump.com Staff
02 Apr, 2007
New York City
A combined bid to buy a stake in a hodling company owning 12% of Telecom Italia from AT&T and American Movil lifted the stock. Telecom Italia and Pirellie shares in Milan trading rose 11% at close. Italian government may not view this offer favorably according to comments from the Communications Minister. The Minister has asked local banks and other companies to make a counter bid.
123jump.com Staff
02 Apr, 2007
New York City
After seven months of looking for a buyer First Data has agreed to sell the company for $29 billion. The company had recently spun off its money transfer division Western Union. In the last three eyars revenue declined 30% and earnings fell 16%.KKR will assume its long term debt of $2.7 billion.
123jump.com Staff
02 Apr, 2007
New York City
Market averages in the early morning trading lost its upward bias after one hour of trading. Major averages turned negative after 45 minutes of trading on the release of weaker than expected manufacturing index. the ISM index in March fell to 50.9, lower than anticipated read of 52. Chicago based Tribune has agreed to be acquired for $8.2 billion by Sam Zell and employee stock option plan. The company was looking for bids as high as $50 that failed to materialize.
Ivaylo
02 Apr, 2007
New York City
Asian markets ended mixed Monday, as Japanese stocks were hurt by a survey showing weaker confidence in large manufacturers, while Chinese large-caps led the Shanghai benchmark index to a new record high. In Hong Kong, the benchmark index finished almost flat and in South Korea, the market was lifted by the free-trade deal announced by Seoul and Washington.
123jump.com Staff
02 Apr, 2001
New York City
Market averages are likely to open higher indicated by index trading. Tribune has agreed to be acquired by Sam Zell for $34 per share. KKR is reported in talks and close to acquiring First Data for more tha $28 billion or $34 per share. Xerox has agreed to buy Global Imaging Systems for $1.5 billion. In overnight trading Asian stocks closed lower, India lost 5%.
Ivaylo
02 Apr, 2007
New York City
The benchmark index opened with a negative bias of more than 260 points and drifted lower throughout the session on heavy selling across all sectors. Banking, auto, construction, steel, and real estate stocks were the worst hit. All the index stocks finished in the negative territory. Maruti and Tata Motors led the decliners. Sugar shares, though, managed to advance. Reserve Bank of India raised its short-term lending rate, the repo rate, by 25 basis points to 7.75%.
Ivaylo
02 Apr, 2007
New York City
European markets advanced on Monday as merger-related gains countered losses for heavily-weighted financial stocks and telecoms. Stocks advanced, rebounding from the decline last week, after Telecom Italia SpA received offers and DaimlerChrysler AG weighed bids for its U.S. unit. By mid morning, Frankfurt Xetra Dax was 0.2% higher, the CAC 40 in Paris added 0.1% and London FTSE 100 gained 0.3%.
123jump.com Staff
30 Mar, 2007
New York City
World markets registered healthy gains in the first forty five days of the quarter and then encountered significant headwinds. Most country indexes lost all the gains of the quarter during the last thirty days. Commodities and mining driven countries dominated world markets. Shanghai led the world markets with nearly 43% plus gains followed by Chile, Mexico, Australia and Singapore. Sweden and Norway led European bourses. Venezuela and India ranked at the bottom with losses.
123jump.com Staff
30 Mar, 2007
New York City
U.S. stocks fell dragging the Dow Jones Industrial Average to its first quarterly loss since June 2005, on concern new duties on Chinese imports may provoke a trade war. Commerce Department said February personal income and consumption increased at a seasonally adjusted rate of 0.6%compared to January. Take-Two shares declined 3%. PMC-Sierra rose 13% after the company said it would cut 175 jobs. Vodafone Group declined 4%.
123jump.com Staff
30 Mar, 2007
New York City
Market averages turned negative after trading higher in the morning. Stocks fell as the Commerce Department said it was slapping duties on imports of coated paper from China, raising concerns that Beijing may retaliate and the dispute could hurt U.S. exporters. Of the large cap stocks, Boeing lost 0.9%. International Paper gained 1.4% and Bowater added 1.8%, while Smurfit-Stone rose 0.7%. European markers delivered worst performance in first quarter in four years.
123jump.com Staff
30 Mar, 2007
New York City
European markets opened higher but only eight of the eighteen markets closed higher. Germany and Spain led the gainers in the region. Merger related news also dominated trading but Iraq and Iran related worries led to a caution. Alliance Boots received a revised offer and Iberian airline received an offer from TPG at 3.6 euros. Citigroup expressed a desire to purchase a bank in Germany and vodafone dropped 4.5% on margin pressures. European markets gained little at the end of the first quarter.
123jump.com Staff
30 Mar, 2007
New York City
Market averages closed lower after three hours of trading in New York. Much awaited report on corn planting revealted larger than expected rise in corn planting this season depressing corn and soybean prices. The government expects record corn planting since 1944 driven by etahnol based demand. Construction spending rose 0.3% in February driven government projects. Global Payment fell 11% on lowered earnings. European markets closed mixed with a negative bias but Asian mrkets closed higher.
123jump.com Staff
30 Mar, 2007
New York City
Ethanol demand is driving farmers to corn in record numbers across the country. According to the government report farmers are likely to increase by 15% corn planting acres, largest since 1944. Soybean production will suffer and is likely to put more pressure on food prices in the coming months. Corn prices fell 5% and soybean dropped 2% on the release of the report.
