Elena
01 Jun, 2006
New York City
The Department of Commerce reported that construction spending in April unexpectedly fell by 0.1%, following an unrevised 0.9% increase in March. Economists had been expecting construction spending to increase by 0.2%.
Elena
01 Jun, 2006
New York City
Major retail companies reported generally higher same-store sales for May. Gymboree posted 19% rise in same-store sales, while Abercombie & Fitch reported that May same-store sales rose 3% and total sales climbed 17% to $185.7 million. Nordstrom and Limited Brands posted same store sales growth of 7.8% and 7% respectively, exceeding analyst estimates.
Elena
01 Jun, 2006
New York City
The Labor Department said that productivity growth was revised up to 3.7% from the 3.2% growth originally reported for the quarter, slightly below the expected 3.8% upward revise. Another report showed that initial jobless claims in the week ended May 27 rose to 336,000 from the previous week''s unrevised figure of 329,000, compared to expectations of jobless claims to fall to 320,000.
Elena
01 Jun, 2006
New York City
A bankruptcy judge approved the $280-million-a-year concessions deal Wednesday, hours after 61% of the airline''s rank-and-file pilots voted for the pact. The deal includes an initial 14% pay cut for pilots and assurances the pilots union won''t fight any company effort to terminate the pilots'' pension. The agreement, running through 2009, takes effect Thursday.
Ivaylo
01 Jun, 2006
New York City
Hong Kong
Ivaylo
01 Jun, 2006
New York City
Dropping commodity prices also hurt mining stocks. The London-listed miners headed the list of dropping stocks, as copper prices declined in early trade. Oil companies however, provided some respite as crude prices remained steady ahead of a meeting of Opec oil ministers in Caracas later in the session. London
Ivaylo
01 Jun, 2006
Metals
Gold didn
123jump.com Staff
31 May, 2006
New York City
Market averages rebounded after declining for most of the last week and yesterday. Decline in oil and precious metals prices helped investors to step-in. Stocks in Europe staged a mild rebound, rising 1% across the region at close. Latin American averages closed higher on the release of Brazil Q1 GDP growth of 3.4% beating the estimates of 2.7%. FOMC meeting minutes showed policymakers grappling with the rate hike decision.
Elena
31 May, 2006
Frankfurt
European stocks finished sharply higher, boosted by telecom and other defense stocks. Deutsche Telekom gained 2.6%, Telecom France rose 4.2%, and U.K. Vodafone Group closed up 2.7%. Utilities stocks were also strong, benefiting in part from U.S. utility NRG Energy, which rejected an $8 billion bid from rival Mirant Corp. The German DAX 30 climbed 1.3%, the French CAC 40 gained 0.7%, and London FTSE 100 rose 1.3%.
Elena
31 May, 2006
New York City
Stock markets traded higher, supported by retreating oil prices. In merger-and-acquisition news, ADC Telecommunications dropped 19% after it agreed to acquire fellow equipment maker Andrew Corp. in a $2 billion stock swap worth $12.76 per share. ADC also posted a 32% drop in quarterly earnings.
Elena
31 May, 2006
Mumbai
Following a global decline the Sensex opened lower only to experience a morning session of high volatility and a sharp decline of 7% of 675 points. In the afternoon, the benchmark regained lost ground to finish only 3.60% lower. Among the factors involved are global markets weakness, lower base metal prices and falling auto, banking and cement shares.
Elena
31 May, 2006
New York City
Stocks moved higher at opening, helped by bargain hunting. Trading was subdued as investors awaited the release of the FOMC meeting minutes, expected to give a clue about further interest-rate hikes. In earnings news, Tiffany & Co, jewelry retailer, reported that Q1 earnings advanced to 30 cents a share, from 27 cents a share a year ago, beating estimates of 28 cents. Revenue advanced 6%.
Elena
31 May, 2006
New York City
Stock futures were poised to a strong opening Wednesday ahead of the Fed Reserve FOMC minutes release. Costco, warehouse retailer, reported Q3 earnings of $235.6 million or 49 cents per share compared to $209.8 million or 43 cents per share last year. Analysts had been expecting the company to earn 50 cents per share.
Elena
31 May, 2006
New York City
Comcast and Time Warner were accused of price-fixing and bid-rigging in their submission of a joint bid instead of competing against each other to acquire Adelphia''s assets. The America Channel claimed in its lawsuit that the deal violated federal antitrust laws and would reduce competition in the cable TV industry.
Ivaylo
31 May, 2006
New York City
The steep fall of U.S. stocks overnight, together with the rise in oil prices, pulled Japan
