Elena
18 May, 2007
New York City
General Electric advanced 1.8% amid reports that it is close to a deal to sell its plastics division for nearly $11 billion to Saudi Basic Industries Corp. Trump Entertainment rose 19% after the casino and hotel operator said it received indications that would-be suitors show interest in buying the company.
Elena
18 May, 2007
New York City
Wall Street gained ground on Friday, boosted by takeover activity including a Microsoft Corp. acquisition of online advertising firm Aquantive and a potential divestiture by General Electric Co. Shares of Aquantive surged 77% in early trading, while Microsoft lost 1.2%. GE advanced 1% amid reports that it is close to a deal to sell its plastics division for nearly $11 billion to Saudi Basic Industries Corp. Again in the Dow, Intel jumped 2.3% after Merrill Lynch upgraded the stock.
Ivaylo
18 May, 2007
New York City
The UK market hit a near seven-year high on Friday as oil stocks surged and Cadbury Schweppes advanced on a report that private equity groups are putting together an 8 billion pounds offer for its US beverages arm. As Brent oil prices remained steady at $70 a barrel, oil large-caps continued to make gains. The FTSE 100 was up 40.2 points to trade at 6,619.5.
Elena
18 May, 2007
New York City
U.S. stock futures were pointing to a rebound after Thursday''s losses, with General Electric expected to announce the sale of a subsidiary and Dow member Verizon Communications moving 1.6% higher after Citigroup upgraded its stock to buy from sell. GE added 1% in pre-market trading on reports that it is close to a deal to sell its plastics division for nearly $11 billion to Saudi Basic Industries.
Ivaylo
18 May, 2007
New York City
Asian markets closed mostly lower Friday, as Tokyo retreated after a sharp decline in copper prices overnight and data showing a drop in Japanese steel exports for March. Sumitomo Metal Mining, the largest nickel miner in Japan, declined the most in almost seven weeks, while BHP Billiton., the world biggest mining company, also tumbled. All major markets in the region ended in negative territory.
Elena
18 May, 2007
New York City
Microsoft announced Friday an agreement to acquire Aquantive in an all-cash deal, valuing the company at approximately $6 billion. Microsoft offered to buy the shares of the digital marketing technology provider at $66.50 each, a healthy premium to Thursday''s close at $35.87. The transactions is expected to complete in the first half of fiscal 2008.
Ivaylo
18 May, 2007
New York City
The benchmark index was highly volatile Friday, opening with a negative bias on weak global markets. IT stocks helped the index regain lost territory at noon, but it was banking stocks which performed the best in late trading. HDFC Bank and ICICI Bank led the advancers, while Bajaj Auto led the decliners. Reliance Industries hit a record high. The wholesale inflation this week was lower than last week.
Ivaylo
18 May, 2007
New York City
European markets reached six-and-a-half-year highs on Friday as merger talk drove advances in the oil sector, while aerospace group EADS was boosted by rumours of the sale of a stake. Oil stocks were higher, both by crude prices surging back towards $70 a barrel, and by merger talk between Royal Dutch Shell and BP. By late morning, Frankfurt Xetra Dax added 0.8%, the CAC 40 in Paris added 0.8% and London FTSE 100 climbed 0.8%.
Ivaylo
18 May, 2007
New York City
A combination of bearish fundamental influences came together and weighed on copper futures Thursday. According to investors, the market is entering a period when demand tends to slow on a seasonal basis. Much of the building wire and other copper-related products used for the U.S. construction season is purchased in the spring. Some of the pressure on gold and silver spilled over from the second straight day of sharp drops in copper prices.
123jump.com Staff
17 May, 2007
New York City
U.S. market averages consolidated after gaining to a record level yesterday. Alliance Data agreed to be bought by Blackstone for $7.4 billion and 24,7 Right Media was purchased by WPP Group. J C Penney, Kohl and Nordstorm reported rising sales and earnings. Oil jumped more than 3% on worries that gasoline supplies may not meet the demand. Bernanke comments on mortgages and current boom in leveraged buyout restrained traders. Weak metals trimmed market averages in Latin America.
123jump.com Staff
17 May, 2001
New York City
Stocks dipped as rising crude oil prices and a positive report on business conditions in the mid-Atlantic region suggested the Federal Reserve may be less likely to cut interest rates. GE shed 0.8% and Sun Microsystems rose 4.5% on share buyback program. J C Penney income in the first quarter rose 13%. New York Times ad sales in April dropped 2.2%.
Elena
17 May, 2007
New York City
European stock markets gained ground on Thursday, boosted by gains for oil giants such as Royal Dutch Shell and advancers on the back of broker upgrades like British Airways and Old Mutual. However, weakness on Wall Street helped limit gains. Cairn Energy climbed 3.7% on takeover speculation and Shell rose 3%. British Airways shares rose 2.4% on positive comments from Goldman Sachs. The U.K. FTSE 100 rose 0.3%, the German DAX 30 added 0.2%, and the French CAC 40 improved 0.2%.
Elena
17 May, 2007
New York City
U.S. stocks continued to trade in the negative territory as investors locked in profit taking after the recent strong rally. Market also digested data that signaled slower economic conditions in the coming months. Micron Technology weighed on tech shares, losing 3.7% after filing to sell $1.1 billion in convertible notes. However, Sun Microsystems provided support, posting an advance of 4.3% after it announced its board authorized a buyback of up to $3 billion.
Elena
17 May, 2007
New York City
Alliance Data Systems surged 26% after the provider of transaction, credit and marketing services agreed to be acquired by Blackstone Group in a deal worth $7.8 billion. The private-equity firm is paying $81.75 a share, a 30% premium to Wednesday''s closing price of Alliance Data, including debt. In other deal news, Acxiom surged 16% after the company agreed to be acquired by Silver Lake and ValueAct Capital for $3 billion, or $27.10 per share in cash, including debt assumption.
Elena
17 May, 2007
New York City
U.S. stocks opened lower on Thursday, with investors taking profit after recent rally ahead of data on leading economic indicators. Wall Street also awaited a speech by the Fed Reserve Chairman Ben Bernanke that could provide clues to whether problems with subprime mortgage loans could affect the broader economy. An increase by the oil price also weighed on market sentiment, as light sweet crude rose 47 cents to $63.02 on the Nymex.
