123jump.com Staff
25 May, 2007
New York City
Sensex index in India rose nearly 0.9% bucking the trend of falllig markets in the region. Wholesale inflation was reported at near elevated level and consumer inflation kept rising at the end of last week. Suzlon is close to finalizing its deal to acquire German REpower, wind turbine maker. Tata Tea has agreed to sell its stake in Energy Brands to Coca Cola for nearly $1.2 billion.
123jump.com Staff
25 May, 2007
New York City
Market averages are expected to open higher in New York on deals and earnings news. Coca Cola has agreed to pay $4.1 billion for vitaminwater maker Energy Brands to boost its sales in North America. Nasdaq agreed to purchase European stock exchange operator OMX for $3.7 billion. Market is awaiting existing home sales report in less than an hour. Asian markets closed mostly lower in the overnight trading.
123jump.com Staff
24 May, 2007
New York City
U.S. averages struggled as rising bond yields affected trading sentiment. April home sales rose 16% and durable goods orders in the month rose 0.6%, lower than expected but still healthy. Prospect of any rate cut in the near term faded with both reports, dragging market averages lower around the world. Lowered profit estimate at Network Appliance caused the stock to lose 16% and dragged tech stocks with it. Brazil fell 2.5%. In Europe, Italy dropped 1.4% and in Asia, markets struggled.
Elena
24 May, 2007
New York City
European stock markets closed in the negative territory on Thursday, dragged down by weakness in the mining sector and declines from automakers. Gains posted by Air France-KLM and telecommunications players such failed to lift sentiment. Miners were notable losers, with shares of Lonmin and Vedanta Resources each falling 3%. The U.K.''s FTSE 100 lost 0.8%, the French CAC-40 slipped 1.2%, and the German DAX Xetra 30 fell 0.5%.
Elena
24 May, 2007
New York City
U.S. stocks retreated after the initial enthusiasm over a report which showed that new homes sales in April soared to a 14-year high, dampening hopes that the Fed Reserve will cut interest rates to stimulate the economy. The Commerce Department said sales of single-family homes jumped 16.2% last month. Buying interest was boosted by news that Advanced Medical Optics considers offering Bausch & Lomb a higher price than the $3.67 billion offered by a private equity group. Bausch & Lomb gained 4%.
Elena
24 May, 2007
New York City
Apparel retailers Gymboree and Abercrombie & Fitch rose 11% and 3%, respectively on quarterly results. Abercrombie & Fitch Co. reported 7% earnings growth in Q1 to 65 cents per share, compared with profits of 62 cents a share a year ago. Sales rose 13% to $742.4 million. Abercrombie reaffirmed its outlook for the first half of the year.
Elena
24 May, 2007
New York City
Wall Street opened mixed Thursday, reflecting better-than-expected economic data and cautiousness ahead of new home sales report. Toll Brothers'' unwillingness to provide an earnings outlook also weighed. Signs of strength in business investment offset higher-than-expected jobless claims data, with durable goods orders rising 0.6% in April, boosted by strong demand for metals and capital equipment.
Elena
24 May, 2007
New York City
U.S. stock futures lost ground on Thursday, pressured by concerns over the housing market. The housing market was in the spotlight, with investors awaiting data on new-home sales and digesting unwillingness from home builder Toll Brothers to provide an earnings outlook. Durable-goods orders report is also due out today.
Elena
24 May, 2007
New York City
The retailer said it earned $52.9 million, or 13 cents per share, compared with profits of $99.4 million, or 25 cents a share a year ago. Sales totaled $2.3 billion compared with $2.1 billion a year ago. Limited Brands attributed the quarterly decline to lower-than-expected sales and margins across all its brands, particularly Victoria''s Secret.
Elena
23 May, 2007
New York City
[[European stock markets gained ground on Wednesday, reaching new multi-year highs with the help of strong telecom and automotive shares. Deal speculation in the Dutch mobile market boosted telecoms, with KPN rising 2.8%, Vodafone, climbing 3.7%, Deutsche Telekom, adding 2.9%, and France Telecom rising 2.1%. Telecom equipment maker Alcatel-Lucent shares advanced 2.8%. The German DAX Xetra 30 advanced 1%, the French CAC-40 climbed 0.5%, and the U.K.''s FTSE 100 added 0.2%.
Elena
23 May, 2007
New York City
Another flurry of deal news fueled U.S. market rally, sending the Dow Jones to a new record high. The blue-chip average was boosted by gains for Caterpillar, up 2.1%, Home Depot, Hewlett-Packard and Disney, each rising above 1%. The metals sector was in the spotlight amid deal speculations after Alcan rejected Alcoa''s $27 billion hostile bid. Alcoa rose 4.5%, while Alcan shares added 4.2%.
Elena
23 May, 2007
New York City
Forest Laboratories was a notable gainer on the S&P, rising 5%. The drug maker said that early results from a clinical trial showed the experimental fibromyalgia drug developed with Cypress Biosciences was better than a placebo. Cypress stock skyrocketed 98%. Analog Devices dropped 8.6% after reporting a 14% profit decline and projecting current quarter earnings below expectations.
Elena
23 May, 2007
New York City
Wall Street opened higher amid deal speculations in the metals and media sectors. Retailers posted gains on strong earnings. Target advanced 3.3% after the retailer posted better-than-expected Q1 earnings of 75 cents a share and revenue of $14.04 billion which came in below analyst estimates. Medtronic rose 5.2% after it said Q4 earnings and revenue beat expectations. The Medical device maker said quarterly profit rose 10% despite sluggish sales of implantable heart devices.
Ivaylo
23 May, 2007
New York City
Shanghai stocks surged Wednesday on gains in the banking and property-developer sectors, as regional indices mostly advanced. Japanese shares finished higher, led by exporters such as Toyota Motor that rose on a weaker yen, and banks such as Sumitomo Mitsui Financial Group. Hong Kong ended lower, while South Korea and Singapore finished in positive territory.
Elena
23 May, 2007
New York City
U.S. stock market futures moved higher on Wednesday after, boosted by speculations that Canada''s Alcan may involve rival aluminum producer Alcoa into a bidding war. Alcan is reportedly in talks with global mining concern BHP Billiton after rejecting an unsolicited takeover bid from Alcoa on Tuesday and said it is in discussions with third parties. Alcoa gained 2.7% before the bell, while U.S.-listed shares of Alcan were up 3.7%.
