123jump.com Staff
24 Jul, 2006
New York City
Market averages rallied on $21 billion deal to acquire HCA, American Express reported 78 cents per share earnings beating the estimates of 74 cents and $10.2 billion deal in Europe for semiconductor business of Philips Electronics. Large and small cap stocks rallied. Tech stocks got a boost from an upgrade on Dell by Citigroup. Merck reported 73 cents and Schering-Plough reported operating income of 25 cents.
Elena
24 Jul, 2006
New York City
Astec Industries posted Q2 net income of 56 cents a share compared with 49 cents a year ago on 12% sales growth. The company''s June 30 backlog amounted to $121.7 million, climbing 38.2% from 2005. Titanium Metals reported a 62% growth in Q2 net income to 31 cents a share vs. 20 cents a share a year earlier, citing higher revenue. Gateway Financial Holdings said that its Q2 net income increased 68% as net interest income advanced 69% from a year ago.
Elena
24 Jul, 2006
New York City
Stocks moved notably higher at opening, boosted by multibillion-dollar mergers, strong earnings from drugmakers, and retreating oil prices. Three equity firms offered to buy hospital operator HCA for $21.3 billion and assume $11.7 billion of debt. In another deal, AMD agreed to acquire graphics chipmaker ATI Technologies Inc. for $5.4 billion in cash and stock.
Elena
24 Jul, 2006
New York City
Stock futures indicated a positive start of trading session, supported by a couple of takeover deals and stronger-than-expected earnings reports. Drug maker Schering-Plough reported a Q2 profit above forecasts on sharply higher sales of its cholesterol drugs. Company
Elena
24 Jul, 2006
New York City
Under terms of agreement AMD will pay $4.2 billion in cash and 57 million AMD shares to acquire all of ATI''s outstanding stock, according to a news release. The new offerings would broaden AMD''s package of products as it takes on Intel. ATI makes chipsets and graphics chips for PCs, as well as a host of semiconductors for consumer products.
Elena
24 Jul, 2006
New York City
Asian markets closed slightly lower as gains for automakers helped limit losses brought by the tech sector. The Nikkei lost 0.18% as signs of strengthening domestic economy and strong June production figures for automakers offset declines among technology stocks. Across the region, Hong Kong
123jump.com Staff
21 Jul, 2006
New York City
Market swings from euphoria to calamity and today it was the day of economic slow down worries. Industrial and tech comapanies, in spite of reporting better earnings, traded lower. Caterpillar reported the best quarter in the company history,but stock fell 1.1%. Slowing economy and rising uncertainity for the coroporate profits does not bode well for near term investors. Dell and semiconductor stocks declined on slowing markets for computer and chips. Dell closed near six-year low.
Elena
21 Jul, 2006
New York City
Stocks dropped on significant weakness for tech stocks, dragged by five-year low for Dell due to disappointing earnings. The semiconductor sector was also weak as Broadcom, communications semiconductors maker, reported Q2 revenue in line with estimates but issued a disappointing Q3 forecast. Swedish telecom equipment maker Ericsson fell 1.7% after reporting weaker-than-expected Q2 sales. Caterpillar said Q2 earnings surged 38%, the strongest financial performance in four decades.
Elena
21 Jul, 2006
New York City
Metals, energy and pharmaceuticals faced a wave of selling for the third time this week. Sensex in India closed down 267 points on the rate hike worries for the coming week. Tata Steel and Larsen & Toubro report rising earnings. For the week Sensex in India lost 5.5%.
Elena
21 Jul, 2006
New York City
U.S. market averages opened mixed, with the Dow and S&P 500 moving modestly higher, but the Nasdaq falling down on weakness in the tech sector. The losses followed a profit warning from Dell which offset better-than-expected quarterly results from Microsoft and Google. Advanced Micro Devices also came under pressure as the chipmaker said Q2 net income totaled $89 million, or 18 cents a share versus $11 million, or 3 cents a share last year.Sales were $1.22 billion, vs. $1.26 billion a year ago.
Elena
21 Jul, 2006
New York City
Stock futures reversed from earlier strength to indicate a flat opening as profit warning by Dell offset strong results from Caterpillar. Shares of Dell dropped 12.3% in pre-market trading after warning that Q2 earnings and revenue would come below forecasts, citing
Elena
21 Jul, 2006
New York City
Crude oil prices declined Friday morning, following comments by the U.S. Federal Reserve Chairman Bernanke that surging oil prices have negative effect both on economic growth and inflation. Oil prices have retreated from recent highs after data showed an increase in U.S. petroleum inventories last week, but there are still lingering concerns about the Middle East crisis.
Elena
21 Jul, 2006
New York City
Asian markets sharply reversed from yesterday
123jump.com Staff
20 Jul, 2006
New York City
Microsoft stock got a lift of 6% in the after-market trading on earnings revision and higher sales forecast. The copmany also reported $20 billion stock repurchase next month. Earnings declined 23.5% but the company forecasted higher sales in the current quarter. The Comany stock has lost 16% since the last earnings release on April 27,on the company plans to spend $2.6 billion for its web properties.
123jump.com Staff
20 Jul, 2006
New York City
A flood of earnings after the close reflect generally rising earnings. Google earnings and revenue rose reflceting a strong demand for online advertising.Excluding one time charges and stock compensation the company earned $2.49 beating the estimates of $2.22 per share. The company also generated net revenue of $1.67 billion after paying its partners, beating the estimates of $1.49 billion. Google earnings were in sharp contrast to Yahoo results.
