123jump.com Staff
06 Feb, 2007
New York City
Market averages were dragged lower on weakness in tech stocks. Cisco reported second quarter profit of 31 cents vs. 22 cents a year ago in the second quarter. Cisco stock has risen 60% in the last six months on rising expectations of improved business climate and higher spending by telecom companies. Telecos have been increasing their spending to build wireless and broadband networks to handle high speed Internet traffic to download video and rich media content.
123jump.com Staff
06 Feb, 2007
New York City
President Bush, a day after sending Congress a $2.9 trillion budget, urged lawmakers to resist raising taxes and to address the unsustainable growth in entitlement programs by restraining spending. But, the President failed to explain what is he dong to lower defense spending and government borrowing. Asia finished higher on tech stocks, Europe gained boosted by solid gains in the health-care sector. Crude oil rose as freezing cold covered the eastern half of the U.S. Gold inched higher.
123jump.com Staff
06 Feb, 2007
New York City
Blackstone said that it raised its offer for Equity Office Property to $55.50 per share. The cash portion of the offer is raised to counter the competing bid from Vornado Realty Trust. The board of EOP favors the offer from Blackstone and agreed to raise its merger termination fee to $750 million from $500 million. Blackstone offer will close within two days of shareholder vote but Vornado offer may take as long as thirty to forty five days.
Elena
06 Feb, 2007
New York City
European stocks hit multi-year highs on Tuesday, boosted by solid gains in the health-care sector. Fresenius Medical Care climbed 3.9% offsetting a 1.2% loss for oil giant BP. The U.K.''s FTSE 100 closed up 0.5 % after touching a new six-year high. The German DAX 30 closed flat at 6,875.70. The French CAC-40 slipped 0.1%, reversing from a 51/2-year high. The Dutch AEX index touched its highest level in just under five-years at 509.35.
Elena
06 Feb, 2007
New York City
U.S. stocks turned to the downside, reflecting rallying oil prices and weakness in the tech sector ahead of earnings release from Cisco Systems. The Dow was dragged down by Hewlett-Packard which lost 1% on news that Eastman Kodak is introducing higher-priced printers with lower-priced cartridges. Apple declined 0.6% on news Wal-Mart is launching a download service. National Semiconductor dropped 4.4% after the company projected a 14% to 15% drop in Q3 revenue, due to lower shipments.
Elena
06 Feb, 2007
New York City
Wall Street opened slightly higher, with investors awaiting speeches by top Fed Reserve officials. An increase by the oil price provided some boost to energy stocks like Exxon Mobil Chevron Corp. Anadarko Petroleum also advanced on news that its Q4 profit more than doubled. Elsewhere, Bankrate rose 11% after posting 50% profit jump in Q4 on robust advertising on its Web sites. International Securities Exchange rose 9% on news of 51% profit rise in Q4.
Ivaylo
06 Feb, 2001
New York City
Strong bid speculation supported the London benchmark index to a new high on Tuesday, as UK retailer J Sainsbury is again in focus on a possible approach by two companies. Other gainers included Cable & Wireless, also on merger talk as reports suggests Deutsche Telekom is considering a bid proposal. Lloyds was up on broker comment, while the only decliner was BP, as the oil company cut its guidance. By mid-day, the FTSE 100 was trading 25.4 points, or 0.56%, higher at 6,343.3.
Elena
06 Feb, 2007
New York City
U.S. stock futures pointed to a moderately higher opening on strong results from Tyco and corporate news from Wal-Mart. Investors also awaited comments from top Federal Reserve officials for clues about the outlook for U.S. interest rates. Tyco added 1.3% in pre-open after it reported Q1 earnings rise of 43% on increased sales. Wal-Mart said it was launching a test version of a video download service, which will compete with Apple'' download service.
Ivaylo
06 Feb, 2007
New York City
The market witnessed a highly volatile trading session moving in and out of positive territories on a wave of sell orders in large-cap stocks. The turnover on BSE surged on three block deals in TCS. Reliance Comm led the decliners today after 5 days of rally. Reliance Energy, Ranbaxy and ICICI Bank led the gainers. Education Minister said that 100% foreign direct investment in higher education will soon be allowed. India, Iran and Pakistan inch closer to agree on natural gas pipeline project.
Elena
06 Feb, 2007
New York City
Toyota Motor posted group net profit of 426.8 billion yen ($3.6 billion), compared with 397.6 billion yen last year. The auto maker reported solid sales growth of 15.2% to 6.15 trillion yen ($51.2 billion) from 5.33 trillion yen a year ago, boosted by strong demand for remodeled RAV 4 sport utility vehicle and Camry mid-sized sedan in North America, and the Yaris compact in Europe.
Ivaylo
06 Feb, 2007
New York City
Asian markets closed broadly higher on Tuesday on strength in the tech sector in Japan, as Nikon Corp. and Olympus Corp. reported higher net incomes, while Toyota led autos higher. China Shipping Container Lines boosted HK benchmark index as it surged on broker update. Australian markets rallied on reports that the Reserve Bank of Austraia will not hike the interest rates. Chinese indexes also rose, breaking the losing streak from previous session, supported by firmer bank stocks.
Ivaylo
06 Feb, 2007
New York City
Weaker Q4 results from British oil company BP could not influence negatively the market sentiment on Tuesday. Upbeat mining and metals sector and banking stocks sent shares higher with Capitalia leading the advancers. Renewable Energy Corp rebounded to erase some of the recent heavy losses. By mid morning, the FTSE 100 in London climbed 0.4%, Frankfurt Xetra Dax added 0.3% and the CAC 40 in Paris edged 0.2% higher.
Ivaylo
06 Feb, 2007
New York City
Gold futures advanced on Monday at the New York Mercantile Exchange, while copper continued its march downward. Gold was supported by the tough stance of US Secretary of State Condoleezza Rice on Iran and the strength of oil on the market. Crude oil dipped after the recent rally while natural gas gained. Arabica coffee prices and raw sugar futures also declined.
123jump.com Staff
05 Feb, 2007
New York City
Survey on service industry reported higher than expected level of economic activity in the month of January. A similar survey in Europe reflected growing sector across the continent. Lower energy prices, higher wages and consumer willingness to dip in savings kept American retailing and construction sectors growing in the month of January. Las Vegas Sands reported 3.2% rise in earnings on 27% rise in sales. SEC approved Nasdaq to sell more services and raise listing fees.
Elena
05 Feb, 2007
New York City
European stocks finished little changed on Monday, as losses for ad conglomerate Havas and utilities Endesa and E.On offset the positive sentiment generated by gains in the oil sector and some airline stocks. British Airways fell 1.8%, while budget airlines Ryanair and easyJet gained 3% each. The U.K. FTSE 100 index added 0.1%, the German DAX 30 declined 0.1%, and the French CAC-40 edged 0.1% higher.
