Elena
22 Feb, 2007
New York City
U.S. stock futures pointed to modestly higher opening on Thursday. In pre-market highlights, Whole Foods jumped 7.5% after it agreed to buy smaller rival Wild Oats Markets for about $565 million. Shares of Wild Oats surged 17%. In the tech sector, Cisco Systems and Apple were in the spotlight as the two tech giants managed to settle the issue over Cisco''s iPhone trademark, agreeing to share the name. Apple shares rose 1.5% in pre-market trading, while Cisco gained 0.6%.
Ivaylo
22 Feb, 2007
New York City
The Nikkei in Japan on Thursday crossed the 18,000-point level for the first time in almost seven years on Sony and other exporters rising due to the weaker yen. The Japanese currency dipped after the Bank of Japan raised interest rates but stated future increases would come gradually. South Korea and Australia closed at records, while indexes in Singapore and Malaysia touched intraday highs before giving up gains ahead of the market close.
Ivaylo
22 Feb, 2007
New York City
The market opened with a positive bias but soon dipped into negative territory. It was in the final hour of trading though, that the benchmark index plunged as selling pressure mounted on cement, banking, auto and pharma stocks. Grasim, ACC, Gujarat Ambuja, Hero Honda and Ranbaxy tumbled. Reliance Comm led the gainers, debutant Firstsource soared. Morgan Stanley will spend $425 million to set up its own service platform in India.
Elena
22 Feb, 2007
New York City
Luxury home builder Toll Brothers posted Q1 net income drop of 67% to $54.3 million, or 33 cents a share, down from $163.9 million, or 98 cents last year. The quarterly earnings fell on 19% revenue decline and missed analyst estimate of 29 cents. Revenue fell to $1.09 billion from $1.34 billion.
Ivaylo
22 Feb, 2001
New York City
Insurers supported European equities on Thursday, as markets rebounded from losses in the previous session when concerns over inflation and interest rates made them retreat from recent six-year highs. BAFS was leading the advancers on strong Q4 reslts, Axa and Allianz also contributed to the rally. In early trade, Frankfurt Xetra Dax added 0.7%, the CAC 40 in Paris gained 0.7% and London FTSE 100 climbed 0.6%.
Ivaylo
22 Feb, 2007
New York City
Gold futures rallied to a seven-month high on Wednesday, after data showed consumer inflation rising at a faster-than-expected pace in January, boosting the appeal of gold as an inflation hedge. The outright refusal of Tehran to halt uranium enrichment and the pursuit of nuclear power also added fuel to the increase in gold. Other metals, like silver, platinum, palladium and copper also advanced. Corn spurted to ten-year high on speculative buying.
123jump.com Staff
21 Feb, 2007
New York City
U.S. stocks closed down Wednesday, as a steeper-than-forecast rise in consumer prices reduced speculation the Fed Reserve will cut interest rates. The Dow Jones Industrial Average was dragged down by losses for Hewlett-Packard, General Motors, Intel and Merck. Computer-related companies in the S&P 500 lost 0.3%. Motorola Inc. declined 1.4%. The downside trend for tech stocks was limited by Apple which rose 3.7%. European stocks closed in the negative on weaker commodities.
123jump.com Staff
21 Feb, 2007
New York City
U.S. stocks traded lower on stronger-than-expected consumer-price data that sparked inflation concerns, and a disappointing earnings outlook from Hewlett-Packard. The tech sector was split. Sun Microsystems declined 1.3%, while Yahoo lost 2.1%. Microsoft jumped 1.1%. Apple leapt 3.7%.Epiq Systems gained 7.7%.
Elena
21 Feb, 2007
New York City
European stocks were led to a negative close Wednesday by weakness in the commodity sector, inflation worries on Wall Street and concerns that DaimlerChrysler may not find a partner for Chrysler hit markets. Resources shares declined as mining company Anglo American dropped 2.5%. Shares of German steelmaker ThyssenKrupp fell 1.1%. Meanwhile, Arcelor-Mittal closed 1.1% higher. The German DAX 30 lost 0.6%, the French CAC 40 lost 0.3%, and London''''s FTSE 100 lost 0.3%.
Elena
21 Feb, 2007
New York City
U.S. market averages posted losses, reflecting disappointing earnings outlook from Hewlett-Packard and inflation concerns amid news of higher-than-expected gains in consumer prices last month. Dow component HP weighed heavily on blue-chips, falling 4.2%. Other decliners included General Motors, down 1.4% and Intel Corp., falling 1.9%. Motorola fell 1.3% on stock downgrade at Lehman Brothers.
Elena
21 Feb, 2007
New York City
Wall Street opened Wednesday session in the negative after higher-than-expected increase in consumer prices in January raised worries that inflation pressures will prevent the Federal Reserve from cutting interest rates later this year. Among early highlights, Motorola lost 1.2% after Lehman Brothers downgraded the stocks. On a positive note, JetBlue Airways rose 3.3%. The carrier warned operating margins might decrease due to to recent winter storms.
Elena
21 Feb, 2007
New York City
U.S. stock futures moved lower on Wednesday, hurt by inflation concerns after the Labor Department said that its consumer price index gained 0.3% in January, led by large increases in food, medical care and tobacco prices. Core inflation increased 0.3%, reaching its highest level since June. Among companies in focus, Hewlett-Packard slipped 1.1% in the pre-open after it reported a 26% rise in Q1 profit to $1.55 billion, or 55 cents a share.
Elena
21 Feb, 2007
New York City
Full-year pro-forma profit earned by the company dropped to $7.97 billion from $8.26 billion. Arcelor-Mittal contributed the net income decrease to a higher tax levy of $1.7 billion paid in 2006. The group''s EBITDA earnings rose 2.1% to $15.27 billion in 2006, falling below the company''s own target range of $15.2 billion to $15.4 billion and missing analyst expectations for EBITDA of $15.32 billion.
123jump.com Staff
20 Feb, 2007
New York City
Market recovered in the afternoon on the comments from the Fed governor Susan Bies. She commented that housing market demand is stable but early delinquencies in sub-prime loans is a concern. Florida Rock rose 41% on buy out offer from Vulacn Materials. HP reported Q1 earnings of 65 cents on revenue of $25 billion. The company offered healthier outlook for the year 2007. Wal-Mart reported earnings of 95 cents per share compared to 86 cents a year ago sparking a rally in retail stocks.
123jump.com Staff
20 Feb, 2001
New York City
Wall Street trembled through an uncertain session as investors shrugged off disappointment over Home Depot Inc.''s declining sales and found little inspiration from an assessment of the Federal Reserve governor on housing market. The governor Bise said that the sub prime loans are souring earlier than expected. Retail stocks are rallying on Wall-Mart earnings report. Oil prices are heading lower warm weather prediction. Gold is trading lower near the close of the market.
