Elena
01 Aug, 2006
New York City
Stocks continued to trade lower on inflation worries, sparked by strong economic data. The ISM''s manufacturing index added to investor interest rate worries, as the index rose to 54.7 in July, far better than the 53 reading economists had expected. In another report, the Commerce Department said that construction spending rose 0.3%, exceeding expectations of 0.2% growth.
Elena
01 Aug, 2006
Mumbai
The benchmark Sensex experienced extreme volatility during the day but bounced back after news that international rating agency has upgraded India''s sovereign ratings to investment grade on an improvement in public finances. IT shares, banks and cement stocks finished higher in the latter part of trade. Auto and pharma stocks were down.
Elena
01 Aug, 2006
New York City
Stocks opened lower following a government report which helped renew concerns about the pace of inflation and interest rates. The Commerce Department released a report showing that consumer prices, excluding food and energy prices, rose at an annual rate of 2.4% compared to the 2.2% rate seen in the two previous months. Core personal consumption expenditures rose 0.2% in June.
Elena
01 Aug, 2006
New York City
Verizon reported Q2 earnings of $1.6 billion, or 55 cents a share, down from $2.1 billion, or 75 cents a share last year, citing charges and merger integration costs. Eastman Kodak said Q2 loss widened to $282 million, or 98 cents per share from $155 million, or 54 cents per share a year ago on restructuring charges and rising silver prices.
Elena
01 Aug, 2006
New York City
That move is likely to lead the bankrupt airline to unilaterally impose a new, cost-cutting contract on the union, but the airline''s 9,300 flight attendants warned that any attempt by the airline to enforce new work rules will lead to random mini-strikes aimed at hampering the carrier''s operations.
Ivaylo
01 Aug, 2006
New York City
The Nikkei 225 Average of Japan shed 0.04%, as traders sold blue chip electronics. Sony and Canon were among the main decliners. The Hang Seng Index of Hong Kong fell 0.35% on falls in China-related companies. The Korea Composite Stock Price Index, or Kospi, eased 0.8%, as profit taking in banks and shipbuilders erased gains in technology shares.
Ivaylo
01 Aug, 2006
Frankfurt
European stocks turned higher on Tuesday, as broadly satisfying results from the likes of Allied Irish Banks and KPN offset weakness caused earlier by Deutsche Bank and Ryanair. The U.K. FTSE 100 index notched 0.2% up and the French CAC-40 index gained 0.1%, with only the German DAX Xetra 30 index slipping 0.1%.
Ivaylo
01 Aug, 2006
Metals
Despite the nearly flat close on the day, gold is building a base to move higher amid concerns about North Korea, Iran, Venezuela and the fighting in the Middle East, which have built a premium into the market. Silver, platinum and palladium edged up, while searing heat in North America sent natural gas prices surging.
123jump.com Staff
31 Jul, 2006
New York City
Natural gas and crude oil futures jumped more than one dollar. The heat wave in the Midwest and uncertainty driven by Israel and U.N. Security Council resolution asking Iran to suspend nuclear enrichment by the end of August kept oil rebounding. Crude oil closed at $74.40 per barrel and natural gas at $8.21 per mBTU. Tyson reported wider than expected loss. Valero LP reported lower earnings and forecasted similar profit in the current quarter.
Elena
31 Jul, 2006
New York City
European markets closed lower, pulling back from last-week highs, despite well-received earnings reports from major companies. Advancers included media and publishing group Pearson, up 1%, Dutch delivery-services group TNT, up 3.5%, and ASM International, up 6.5%. The German DAX 30 fell 0.4%, the French CAC 40 lost 0.4%, while London FTSE 100 dropped 0.8%.
Elena
31 Jul, 2006
New York City
Stocks traded mixed to lower late Monday morning as investors locked in recent gains. Avon Products dropped over 8% after reporting 54% decline in earnings to 33 cents per share from 69 per share last year on restructuring charges. Among other movers, Blue Nile fell 5% on quarterly earnings, while shares of 51Job Inc. climbed 10% on brokerage upgrade.
Elena
31 Jul, 2006
New York City
Sensex in India gained for the fourth day in a row. The index gained 0.60%. IT, auto, bank and cement companies led the gainers. A parade of rising earnings improved investor sentiment. Jagran Prakashan rose 20% on 1:5 stock split and earnings gain of four-fold. Hindustan Lever declared Rs 3 dividend. Welspun Gujarat rose 11% on 66% rise in earnings. Fall in global oil price supported a rise in local auto stocks.
Elena
31 Jul, 2006
New York City
Humana Inc said Q2 net income advanced to 53 cents a share from 49 cents a share a year on 53% revenue growth, beating expectations. HSBC Holdings, banking services company, reported that first-half net profit advanced 15% to $8.73 billion as total operating income jumped 15% to $34.33 billion. Tyson dropped 8.4% on disappointing Q3 profit and lowered forecasts.
Elena
31 Jul, 2006
New York City
U.S. stock futures declined early Monday as investors were cautious due to the ongoing violent conflict in the Middle East. Shares of Apple Computer rose 2% on Inet after Banc of America Securities upgraded it to buy from neutral and raised its price target to $79 from $68, citing strong demand for MacBooks and iPod digital music players.
Elena
31 Jul, 2006
New York City
The Japan Automobile Manufacturers Association said that for the first time the Japanese automakers produced more vehicles overseas than they did at home. Japanese automakers have been boosting market share in the U.S. and other key global regions as soaring oil prices make their fuel-efficient models more attractive to consumers.
