123jump.com Staff
12 Oct, 2007
New York City
Stocks in early trading in New York reached higher after reports on retail sales and inflation. Retail sales increased 0.6% September on strong auto sales on top of 0.3% rise in August. Producer Price Index in the month increased 1.1% and core PPI increased 0.2%. General Electric reported 14% increase in earnings on 12% rise in sales. Centex plans to take $1 billion in charges. European markets fell. India and Taiwan led the decliners in Asia.
123jump.com Staff
12 Oct, 2007
New York City
Oracle offered to purchase BEA Systems for $6.6 billion in cash or $17 per share, 25% premium from the close on Thursday price. BEA has attracted interest of Carl Ichan who is known for his agressive tactics with company management. He recently raised his stake int the company to 13% and pushed management to look for a buyer. Oracle cash offer lifted the stock in early trading to $18.
123jump.com Staff
12 Oct, 2007
New York City
September consumer confidence was flat in Japan. Households face stagnant wages, rising prices, and higher cost of food and energy, dampening sentiment for months. The malaise in pension records is also affecting the sentiment. The producer price index or wholesale inflation rose 1.7% in September after gaining 2% in August. Stocks in Tokyo trading fell on weak tech and financial sectors.
123jump.com Staff
11 Oct, 2007
New York City
Stocks in New York closed lower after tech stocks declined in the afternoon trading. Same stores sales for the September month were mixed. Target, J C Penney, Kohls, Limited, and Nordstrom fell after they lowered earnings guidance for the quarter. Wal-Mart raised the estimate for the third quarter. UK led the gainers in Europe. Asian markets closed higher. Australia, Hong Kong, India, Indonesia, and Korea closed at a record high.
123jump.com Staff
11 Oct, 2007
New York City
Sensex in India closed higher, the third record close in a row. The index added 155 or 0.8% to close at 18,814. Of the 30 stocks in the index 23 gained. DLF Limited plans to raise $1.5 billion in international offering. Infosys reported earnings and sales rise of 19% and offered estimate of earnings increase of 18% in the next quarter. Stock fell 7%.
123jump.com Staff
11 Oct, 2007
New York City
U.S. retailers reported largely lower sales in September and blamed warm weather for their performance. Target, J C Penney, Kohls, and Nordstrom were some of the few retailers who lowered their earnings for the third quarter. Wal-Mart raised its earnings estimate for the third quarter. Target reported same store sales grwoth of 1.5%, below its lowered forecast. J C Penney, Limited, and Chicos disappointed with a same store sales decline.
123jump.com Staff
11 Oct, 2001
New York City
Stocks in the early tradig in New York are up on Wal-Mart raising its earnings guidance, increase in oil, gold, and copper prices, and 2.5% shrinkage in trade deficit. Same store sales at retailers were weaker than expected. Saks and Nordstrom reported smaller than expected gains.
Asian markets close sharply higher led by record close in Hong Kong, Australia, India, and South Korea.
123jump.com Staff
11 Oct, 2007
New York City
Australian stocks closed at another record after adding 0.52% to close at 6,779.60 on ASX 200 index. The jobless rate in September fell to 4.2%. The Australian dollar crossed $0.90 to one dollar. Murchison Metals battle for Midwest heated up after it urged Midwest shareholders to note that a deal between Sinosteel and Midwest is still tentative. Murchison and Midwest are battling to buid a port on the Western Australian coast. India, Indonesia, and Hong Kong at record close.
123jump.com Staff
11 Oct, 2007
New York City
Nikkei 225 index in Tokyo trading jumped 1.6% or 281 to 17,458. The braod rise in the market was supported several news on the economy. The Bank of Japan left the rate unchanged at 0.5%. In the accompanying statement the Bank noted a mild rise in private consumption. Moodys raised rating by one notch on sovereign debt as the governemt remains focused on lowering budget gap. Current account surplus in August jumped 42% on rise in exports to Asia and Europe.
123jump.com Staff
10 Oct, 2007
New York City
U.S. stocks fell after early morning earnings warning from Valero, Chevron, and Monsanto. However, Costco jumped 10% on earnings news. Stocks fell in the early morning and recovered in the afternoon with a strength in financials, banks, and home builders. Alcoa fell after earnings and Boeing dropped on delays in 787 delivery. European markets closed fractionally higher. Asian markets closed sharply higher led by records in South Korea, Indonesia, India, Australia, and Hong Kong.
123jump.com Staff
10 Oct, 2007
New York City
Stocks in the UK edged higher led by a rise in financials, miners, and British Air. Northern Rock jumped 32% after two investors acquired a total of 5% in the company. Cadbury Schweppes plans to list its beverage unit in the U.S. as it failed to find a buyer. Analysts estimate that the unit may fetch less than 7 billion pounds. Mortgage lenders rose after the news that two hedge fund investors took a stake of 5% in Northen Rock.
123jump.com Staff
10 Oct, 2007
New York City
Australian stocks closed at a record high led by gold mining stocks and strength in retail and banking sectors. ASX 200 increased 0.9% or 60.50 to close at 6,738.30. BHP Billiton jumped 2.3% and Rio Tinto added 0.9%. Mitsubishi controlled Murchison Metals launched a surprise bid for Midwest controlled by Sinosteel. The offer with a 34% premium is desinged to get a control of proposed port to be built in the Western Australia.
123jump.com Staff
10 Oct, 2007
New York City
Market averages declined in the first hour of trading after mixed earnings news. Monsanto reported wider loss compared to a year ago and lowered its guidance for the next year. Chevron and Valero reported that earnings in the quarter will be substantially lower from a year ago on weak refining margins. Costco jumped 8% after reporting earnings rise on higher sales. Cadbury Schweppes said that it will spinoff its beverage business rather than look for a buyer.
123jump.com Staff
10 Oct, 2007
New York City
Tokyo stocks gained a fraction after an early morning rally was trimmed with losses in banks, financials, and insurance companies. Retailers, energy, and air transportations led the gainers in a narrow rally. Broader market declined in the first and second section. Metals and mining companies led the gainers. Yamazaki plans to raise food prices after seventeen years reflecting rising cost of food ingredients.
123jump.com Staff
09 Oct, 2007
New York City
U.S. stocks closed higher after the Fed minutes showed that the Fed believes inflation is under control and is prepared to act to support economic growth. The 50 basis points rate reduction is widely percieved as a gift to Wall Street. The preemptive action by the Fed was partly based on weak August employment report which was revised to 89,000 new job additons from a decline of 4,000 after the rate cut. European and Asian markets closed higher. Oil rebounded.
