123jump.com Staff
21 May, 2007
New York City
Merger news in New York and Europe lifted stocks. S&P 500 briefly crossed its earlier peak reached in March 2000. June futures of crude price jumped more than 2% or $1.33 on expected summar demand for gasoline. Energy and tech stocks drove market averages higher at the opening but failed to keep the momentum near the close. Brazil and Mexico advanced. Two separate mergers were reported in Italian banking sector. Chinese stocks continued to rally. Canadian dollar rose to a 20-year high.
123jump.com Staff
21 May, 2007
New York City
Crude oil futures passed $66 per barrel lifting stocks oil exploration and refining companies. Exxon Mobil, ConocoPhillips, Sunoco and Valero rose on the news. S&P 500 index crossed high reached six year ago on steady rise in company earnings, low interest rates and frantic deal making. Lowes reported lower than expected earnings.
Elena
21 May, 2007
New York City
European stock markets closed mostly in the negative territory Monday, dragged lower by a steep decline in the shares of GlaxoSmithKline and weakness in the bank sector. Shares of pharmaceutical giant GlaxoSmithKline dropped 5% after research showed that diabetes drug Avandia significantly increased cardiovascular risk. The German DAX Xetra 30 added 0.2%, the U.K. FTSE 100 slipped 0.1%, and the French CAC-40 lost 0.2%
Elena
21 May, 2007
New York City
U.S. stocks traded in a tight range on merger Monday, reflecting profit-taking. Tech stocks were some of the most notable gainers amid merger speculation in internet shares. Sirius Satellite rose 3%. In other corporate news, Blackstone confirmed an agreement under which the Chinese government will buy $3 billion of non-voting common units at a purchase price equal to 95.5% of the IPO price. The deal signals China''''s determination to earn higher returns on reserves.
Elena
21 May, 2007
New York City
Wall Street opened mixed Monday, as investors turned to profit-taking after the strong market performance last week. However, a flurry of merger deals generated some positive sentiment. Alltel rose 7.3% after agreeing to be acquired by TPG Capital and a Goldman Sachs unit for $27.5 billion, or $71.50 a share. Atlas Energy Resources jumped 14% as it agreed to buy 2,150 natural gas wells from DTE Energy for $1.23 billion.
Elena
21 May, 2007
New York City
U.S. stock market futures indicated a flat market opening on Monday after a week of solid gains, followed by a weekend of deal making. Among pre-market highlights, Alltel rose 7% as it agreed Sunday to be taken private by investment firms TPG Capital and GS Capital Partners for $27.5 billion, or $71.50 a share. In other corporate news, General Electric agreed to sell its plastic business to Saudi Basic Industries in a $11.6 billion deal.
Ivaylo
21 May, 2007
New York City
Most Asian markets finished in positive territory on Monday boosted by gains on U.S. markets on Friday, with shares in Japan lifted by exporters such as Sony Corp. and Canon, while companies tied to domestic consumption led a rebound on Chinese markets from early losses. All benchmark indices ended higher.
Elena
21 May, 2007
New York City
The offer values the company at $27.5 billion, or $71.50 per share in cash, a premium of 10% over Friday''s close. The deal is subject to Alltel''s shareholders
Ivaylo
21 May, 2007
New York City
The benchmark index was robust throughout the day on strong buying in large-caps especially in the banking, metal and oil & gas sectors, while auto and technology stocks witnessed profit taking. Reliance Energy and Tata Steel led the advancers, while Tata Motors and Bajaj Auto were the worst performing stocks. The rupee advanced to a fresh nine-year high on Monday.
Ivaylo
21 May, 2007
New York City
European markets were mixed in mid-morning trade on Monday as attention was draw to the developments in the Italian banking sector. Acciona of Spain enjoyed strong gains as investors warmed to its transformation story. In Germany the Xetra Dax added 15.6 points or 0.2% but in Paris, the French CAC 40 fell 16.5 points, or 0.3%, and the U.K. FTSE 100 index inched down 0.2%.
Ivaylo
21 May, 2007
New York City
Short covering sent gold and silver futures higher on Friday recovering some of the ground they lost earlier in the week. Crude oil settled higher, bucking the downtrend in the energy stocks. Arabica coffee and raw sugar also finished lower, while cocoa advanced. Wheat plunged as prices got caught in a seasonal slump heading into harvest.
123jump.com Staff
18 May, 2007
New York City
Deal activity pushed the U.S. stocks up. GE is close to an agreement to sell its plastics division for almost $11 billion to Saudi Basic Industries. Microsoft announced a $6 billion deal to buy aQuantive. China raised interest rates and widened trading band for Yuan. Coal miners and oil refiners continued their climb as oil hovered near $65 per barrel. Fording Canadian jumped 7% and Carnival rose 4%. Goldman Sachs market cap cross $100 billion for the first time.
123jump.com Staff
18 May, 2007
New York City
U.S. stocks rose on takeovers. Investors speculated that a sale of General Electric plastics unit may bring more than $11 billion. Intuit jumped 13% after the software maker said its third-quarter profit rose 23%. CalAmp fourth-quarter net earnings declined. Fording Canadian Coal Trust rose 7% on expectations of increases in shipment. Peabody and Sasol rose on steady rise in stocks in the coal and energy sector. Carnival Cruise gained 4%.
Elena
18 May, 2007
New York City
European stock markets closed notably higher on Friday, hitting new multi-year highs on the back of extended rally in the energy sector and U.S. gains, generated by merger activity. Oil giants Royal Dutch Shell, Total and BP all posted gains above 2%. Shares of Bayer AG rose 3.5% on reports that the GE plastics unit could be sold for nearly $11 billion. The German DAX 30 rose 1.4%, the French CAC 40 advaced 1.2%, and the U.K. FTSE 100 rose 0.9%.
123jump.com Staff
18 May, 2007
New York City
Takeover news and stronger-than-expected reading on consumer sentiment drove U.S. market averages higher. Trump Entertainment climbed 19% after the casino and hotel operator said it received indications that would-be suitors show interest in buying the company. In earnings news, Intuit rose 13% after the software maker reported 23% profit increase in Q3. The company posted better-than-expected full-year outlook.
