Elena
09 Feb, 2007
New York City
MasterCard said its Q4 net income exceeded expectations as strong consumer spending boosted transactions. The company posted quarterly profit of 30 cents per share, compared with a loss of 39 cents a year earlier. Revenue rose 17.2% to $839 million. MasterCard raised its quarterly cash dividend by 66.7%. The results drove shares of the compaany to an all-time high before tumbling 5%.
Elena
09 Feb, 2007
New York City
Upgrades for the Big Three automakers and a sector upgrade for the semiconductor industry boosted U.S. market opening. Ford Motor rose 3.6%and General Motors increased 5.1% after Deutsche Bank upgraded their stock on hopes for favorable healthcare negotiations. Citigroup upgraded Daimler Chrysler sending its stock 2.3% higher. Among chip stocks, Dow component Intel added 0.5%.
Ivaylo
09 Feb, 2007
New York City
The market opened strong Friday but soon slipped into negative territory as inflation figures were released. Trading was highly volatile and the decline was broad-based. Cement, telecom, capital goods, pharma and metal stocks were under heavy selling pressure. NTPC led the few advancers, while Satyam, ACC and Reliance Comm led the decline. Wholesale inflation was at two-year high. Bajaj Auto is to be divided into separate auto and financial entities.
Elena
09 Feb, 2007
New York City
U.S. stock futures traded near the flat line Friday, with investors digesting broker upgrades of the Big Three automakers and a jump by crude oil prices. Hedge fund operator Fortress Investment Group was also in focus, as the market awaited its first trading day after it priced its IPO late Thursday. General Motors rose 2.6% and Ford Motor climbed 4% after the car makers were upgraded by Deutsche Bank to buy from hold. DaimlerChrysler was upgraded to buy at Citigroup.
Elena
09 Feb, 2007
New York City
First Group said it will pay $35.25 a share for Laidlaw, the biggest school and intercity bus operator in the U.S. The deal represents an 11% premium to Thursday''s closing price. Shares in First Group gained 4.5% in London. Laidlaw shares jumped 8.8% in pre-market trading.
Ivaylo
09 Feb, 2007
New York City
European markets advanced Friday as stocks which were under pressure on Thursday shine today. Banks were at the forefront of the rally, now that the hiking of interest rates has been delayed until probably next month. ABN Amro led the advance in the banking sector. Other gainers included SEB and Alcatel-Lucent. Daimler Chrysler boosted the auto stocks. By mid morning, Frankfurt Xetra Dax added 0.7%, the CAC 40 in Paris gained 0.7% and London FTSE 100 climbed 0.8%.
Ivaylo
09 Feb, 2007
New York City
Gold futures surged on Thursday on Iran-related pressure, as the supreme leader of Iran, Ayatollah Ali Khamenei, threatened the US that Iran would retaliate should the country be attacked. Silver futures followed gold lead and also jumped, while platinum and palladium declined. All the energy-related stocks advanced with natural gas getting a boost on a storage report. Arabica coffee dipped to a two-week low, while raw sugar gained.
123jump.com Staff
08 Feb, 2007
New York City
Stocks slid despite relatively solid January retail-sales reports, as traders weighed a warning on sub-prime lending from HSBC Holdings and disappointing results from Toll Brothers that resonated in the housing sector. Financial components weighed down the blue-chip average, with Citigroup and J.P. Morgan Chase both losing about 1% on the HSBC news. The Bank of England and the European Bank left interest rates unchanged. Coldwater Creek fell 5% and Quiksilver fell 10% on earnings news.
Elena
08 Feb, 2007
New York City
European stocks closed in the negative on Thursday, with investors digesting earnings news from major companies in Europe and a warning on U.S. provisioning from banking giant HSBC Group. Shares of HSBC Holdings slipped 1.5% after the banking giant said loan-loss provisions would be 20% above analyst estimates. The German DAX 30 lost 0.6%, the French CAC-40 declined 0.7%, and the U.K.''s FTSE 100 fell 0.4%.
Elena
08 Feb, 2007
New York City
U.S. stocks traded steeply lower, pressured by weakness in financial and housing stocks, while January same-store sales failed to lift the sentiment. Bank shares were hurt by a warning from HSBC which said that bad-debt charges for the year will by 20% higher than expected, due to delinquencies in its portfolio of sub-prime mortgages. A warning from home builder Toll Brothers of 19% drop in its Q1 home building revenues weighed in housing stocks. Toll Bros shares fell 4%.
Elena
08 Feb, 2007
New York City
U.S. stock markets started trading lower on Thursday, dragged by mixed January same-store sales and a warning from HSBC Holdings on the U.S. sub-prime lending market. Financial stocks declined, with JP Morgan Chase & Co, Citigroup Inc. and American Express each falling about 1%. Wal-Mart also weighed on the Dow, losing 0.5%, despite stronger-than-expected January same-store sales.
Ivaylo
08 Feb, 2007
New York City
The FTSE advanced slightly on the news to trade mostly flat after the announcement was made.The benchmark index also recovered some losses at lunchtime after upbeat earnings results from medical device maker Smith & Nephew. HSBC surprised investors as it issued a warning on its debt and on the plus side, BT reported strong Q3 results. In late afternoon, the FTSE 100 was 0.37% lower at 6,346.
Elena
08 Feb, 2007
New York City
U.S. stock futures traded lower Thursday, as retailers released mixed quarterly sales offsetting strong earnings reports. In pre-market earnings highlights, PepsiCo said Q4 profit surged 61%, boosted by strong performance from its international division. Net income jumped to $1.06 per share, from 65 cents last year. Dow component Walt Disney & Co. rose 2.3% in pre-open trading after it more than doubled its Q1 earnings, helped by DVD sales.
Elena
08 Feb, 2007
New York City
The retailers reporting upbeat results included Limited Brands and Wet Seal, while Costco Wholesale and Bebe Stores posted disappointing sales results. Limited reported an 11% gain in same-store sales, beating the 7.8% forecast. Costco said that January same-store sales rose 2%, missing estimates of 3% increase. Gap Inc. announced flat January same-store, exceeding estimates of a decline of 7.7%. Abercrombie & Fitch reported same-store sales drop of 6%, missing expectations of a drop of 1.9%.
Ivaylo
08 Feb, 2007
New York City
In Japan, profit taking in domestic-related stocks pared gains in technology and exporters, including electronics makers. The largest power utility in Japan, Tokyo Electric Power plunged. Australia ended also flat as BHP Billiton poor performance weighed on resource stocks while HK bucked the trend and advanced. Markets in South Korea, Taiwan, and Singapore also edged lower.
