123jump.com Staff
25 Aug, 2006
New York City
Market averages are in the negative zone as oil and natural gas mount a comeback. Crude oil for October delivery is 1.2% and natural gas is up 1.5%. Energy explorers, refiners and markets are leading the sector gain. Natural gas is at a two week high and crude oil is at a one week high. Ford Motor is in talks to sell luxury division. H&R Block is down 9% on loan loss reserve of $100 million.
123jump.com Staff
25 Aug, 2006
New York City
Sensex average in India has gained 6% in the last three weeks of trading. Market sentiment has been supported by a steady buying from mutual funds, international investors and normal monsoon rain. During the trading today, Sensex gained almost 1%, with a steady upward movement of large-caps such as Reliance Industries and SBI, which led the advancers today. Hindalco, Tata Steel and Bajaj Auto led the rally.
123jump.com Staff
25 Aug, 2006
New York City
Market averages are hugging the unchanged level with a negative bias. S&P 500 and Dow are down a fraction but Nasdaq is up. Ford Motor is up 4% on the restructuring news. Ford is reported to be in talks to sell its Jaguar and Land Rover division. H&R Block is down 9% on the news that the company has sent aside $100 million to cover potential losses from mortgage loans.
123jump.com Staff
25 Aug, 2006
New York City
Futures market is pointing higher opening but the view is not unanimous. S&P 500 futures are indicating lower opening. Oil in Europe is up 1.5%. Ford Motor is in talks to sell its luxury auto division consisting Jaguar and Land Rover to a group headed by Jacque Nasser, former CEO of the company. Rober Rubin resigned from the Ford board citing potential conflict of interest. Home Depot has placed a buy back plan for $3.5 billion.
Ivaylo
25 Aug, 2006
New York City
Although Toyota Motor and Sony pressed the Nikkei Average down, Asian markets closed broadly higher, as blue-chips Samsung Electronics lifted the Kospi in Seoul, while in Hong Kong gains in some major companies countered a fall in Hutchison. In Taiwan, shares finished lower for the third straight session, led by cement and tourism companies.
Ivaylo
25 Aug, 2006
Frankfurt
As U.S. markets provided little momentum on Thursday, it was the banking sector that enlivened markets in Europe on Friday as a deal between telecommunications companies Vodafone Group and Belgacom offered some direction and after further gains in the Italian banking sector. The FTSE 100 index in U.K. climbed 0.3% the French CAC 40 index added 0.3% and the German DAX 30 index rose 0.2%.
Ivaylo
25 Aug, 2006
Metals
The conditions for gold seem to project sloppy to sideways and perhaps even lower pricing ahead. However, the December gold contract appears to have pretty solid support above the $625 level. Soft U.S. housing and durable-goods data sent high-grade copper futures lower as well. Silver also declined.
123jump.com Staff
24 Aug, 2006
New York City
Rite Aid confirmed the purchase of Eckerd and Brooks drug store chains from Jean Coutu Group for $2.55 billion and assume debt of $850 million. the combned company will be the third largest drug store chain only to trail CVS and walgreen. The fast consolidating drug store industry has come to be dominated by two battling leaders CVS and Walgreen and discount stores such as Wal-Mart and Costco.
123jump.com Staff
24 Aug, 2006
New York City
Three economic reports, earnings disappointment in retail stocks and light trading on both exchanges did not help market averages. Jobless claims fell by 1,000 at the end of the last week, July durable goods orders fell 2.4% and new home sales declined. It was the new home sales report that hurt the market sentiment the most. Home sales declined 4.3% from June and 21.6% from a year ago. Chicos reported 10% higher earnings but same-store sales at core group of stores fell. Stock fell 25%.
123jump.com Staff
24 Aug, 2006
Frankfurt
European markets closed higher led by a rise in Germany, France, Spain and Switzerland. Banking merger talks between two large banks in Italy, Banca Intensa and Saopaolo IMI, led banking stocks in Milan higher. German GDP report showed healthly gain on domestic investment. Cement maker Holcim reported 38% jump in sales and 30% rise in earnings on acquisition and price hike. swiss watch maker Swatch reported better earnings.
123jump.com Staff
24 Aug, 2006
New York City
Retail stocks traded lower after three hours of trading. Chicos suffered 25% decline on the earnings news. The company reported 30 cents vs 27 cents a year ago on revenue rise of 18%. The same-store sales at Chicos flagship store rose only 3%, lower than the double-digit growth that the chain is used to generate for the last nine years in a row. Chicos is down 25% today and down 60% from its peak of $49 in February.
123jump.com Staff
24 Aug, 2006
New York City
Market averages remained subdued after the release of three economic reports. Durable orders declined 2.4%, new home sales declined 21.6% from a year ago and jobless claims fell by 1,000 in the last week to 313,000. Averages tried several comeback but failed to make a mark. Retail stocks are on the decline afte the earnings revision from Toro and Chicos.
123jump.com Staff
24 Aug, 2006
Mumbai
The Sensex on BSE staged a solid intra-day rebound after spending most of the day in negative territory on weak Asian markets. Supported by a rise in the bond prices to a two-month high, as well as buoyed by hopes that domestic fuel prices may not increase in the near term. Reliance Industries led the advancers in afternoon trading. Metal, cement, auto, banking, IT and construction shares advanced.
123jump.com Staff
24 Aug, 2006
New York City
Market averages gained on the report of durable goods orders and jobless claims. Three popular averages rose on the hope that the Fed may not raise interest rates at the next meeting. Rite Aid is in a deal to buy Eckerd drug store chain for $2.55 billion. Chicos dropped 21% on earnings. Toro dropped 4% on earnings. Benihana traded up 5%. European exchanges are up between 0.6% and 1.2% up.
123jump.com Staff
24 Aug, 2006
New York City
Futures market indicate higher opening on the back of durable goods order and jobless claims report. July durable goods orders fell 2.4% but the orders excluding transportation gaied 0.5%. Jobless claims for the last week fell 1,000 to 313,000. Rite Aid is in a deal to acquire Eckerd drug store chain for for $1.45 billion in cash and 250 million shares totaling $2.55 billion purchase price.
