Elena
03 May, 2007
New York City
European stock markets were volatile but finished in the positive territory on Thursday, helped by better-than-expected U.S. economic data and strong profits. A court ruling on takeover target ABN Amro also contributed to the gains. Royal Dutch Shell rose 1.9%. Unilever climbed 3.9% after it posted an unexpected Q1 profit. The CAC closed up 0.2% at 6,004.28, the German DAX 30 added 0.3% and the U.K. FTSE 100 rose 0.8%.
Elena
03 May, 2007
New York City
U.S. market averages traded higher, helped by upbeat economic data which managed to offset news that General Motors Q1 profit fell 90%. GM weighed on the Dow, falling 3.8% after its quarterly results missed forecasts. Optimism about the economy sent the S&P''s 500 past 1,500 for the first time since September 2000. Among the most notable movers, Hanson climbed 18%, while IPSCO rose 6% after the Swedish steel firm SSAB Svenskt Stal announced that it was buying the company for $7.7 billon.
Elena
03 May, 2007
New York City
CBS added 0.6% after it said quarterly profit fell 5.9%, hurt by a tax charge selling radio stations and lower TV syndication income. At the same time, its adjusted earnings per share were slightly above analyst expectations. Martha Stewart Living Omnimedia posted a wider Q1 loss, weighed down by a charge associated with production of its syndicated TV program. Company''s stock dropped 1.7%.
Elena
03 May, 2007
New York City
Wall Street started trading moderately higher on Thursday, as stronger-than-expected Q1 productivity growth and a modest increase in labor costs helped generate some optimism about the outlook for interest rates. However, the upside move was limited by 3% decline for General Motors amid 90% profit drop. In corporate news, Russia''s Norilsk Nickel, the world''s largest nickel producer, offered to buy Canada''s LionOre Mining International for $4.8 billion.
Ivaylo
03 May, 2007
New York City
London equities reached a six-year high on Thursday morning, buoyed by strong results from Unilever, Royal Dutch Shell. Oil company Royal Dutch Shell soared after first quarter earnings rose 17%, while consumer goods large-cap Unilever posted strong gains as first quarter pre-tax profit surged compared with the previous year on improved operating margins. By mid-day, the FTSE 100 index was up 30.6 points to 6,515.2.
Elena
03 May, 2007
New York City
U.S. stock futures advanced Thursday after data showing a bigger-than-expected rise in labor productivity in Q1, and lower-than-anticipated unit labor costs. The Labor Deapartment said that productivity of the U.S. non-farm business sector rose 1.7%, much higher than the expected 0.8% increase. Unit labor costs at an annual rate of 0.6%, well-below expectations of a 2.1% gain.
Ivaylo
03 May, 2007
New York City
Asian markets closed on record-setting note Thursday, as technology and banking sectors were in focus after the release of positive U.S. economic data. Benchmark indices in Australia, Singapore, Malaysia, Indonesia and New Zealand rallied, while financial markets in Japan and China were closed for public holidays. China Mobile led the advance in Hong Kong, while BHP Billiton was the top performer in Australia.
Elena
03 May, 2007
New York City
The auto maker said its Q1 earnings were $62 million, or 11 cents a share, down from a profit of $602 million, or $1.06 a share a year ago. The company blames the disappointing results to its financial services unit''s exposure to the non-prime sector of the residential mortgage business. The company''s stock fell 1.6% to $31.90 in premarket trade.
Ivaylo
03 May, 2007
New York City
After a two-day break, the benchmark index opened with a positive bias Thursday and remained in positive territory throughout the session on strong global markets and robust earnings results from large-caps. Reliance Industries and Bajaj Auto led the advancers, while Tata Motors and HDFC Bank were the worst performing stocks. HDFC on Thursday reported 29% jump in fourth-quarter net profit for the current fiscal year.
Ivaylo
03 May, 2007
New York City
European markets were mostly lower mid-morning on Thursday as weakness in automakers and technology companies countered some well-received earnings from oil company Royal Dutch Shell and food group Unilever. Also, UBS, the world biggest asset manager, and German carmaker BMW posted earnings that missed analysts estimates. The German DAX Xetra 30 index lost 0.2% and the French CAC-40 index slipped 0.1%. However, the U.K. FTSE 100 index rose 0.4%.
123jump.com Staff
02 May, 2007
New York City
U.S. market averages rose as steady drumbeat of earnings supported a rise. Master Card, CB Richard Ellis, Nortel, Jones Lang La Salle, Yum Brands, and others reported rising earings on gains in international sales. Dow Jones is likely to receive at least two bids from private equity groups, sources in the industry confirm. European markets advanced led by a rise in Norway and UK. Brazil reported April trade surplus of $4.2 billion. HSBC stock attracts Middle-Eastern investors.
123jump.com Staff
02 May, 2007
New York City
A familar theme of earnings this quarter was playout again today. Falling dollar and rising international sales contributed to the fortunes of some of the largest companies in America. Nortel, Yum Brands, Master Card and CB RIchard Ellis earnings report confirmed this trend today. Investors lifted these stocks in the hope that these earnings trend will continue. Master Card jumped nearly 10%, CB Richard rose 14%, Yum Brands advacned 6% on the news.
Elena
02 May, 2007
New York City
European stock markets closed higher on Wednesday, boosted by strength among media stocks. Shares in satellite broadcaster British Sky Broadcasting rose more than 5%, while Dutch publisher Wolters Kluwer gained 2.8%. The U.K. FTSE 100 climbed 1% to 6,484.50, the German DAX Xetra 30 rose 0.6% to 7,455.93 and the French CAC-40 gained 0.5% to 5,990.13.
Elena
02 May, 2007
New York City
The three major stock averages rallied on Wednesday, driven by strength in the deal sector amid deal speculation, Q1 financial results released by Time Warner, and stronger-than-expected factory data. Time Warner rose 2.5% after the media posted higher-than-expected quarterly earnings. Chipotle Mexican Grill jumped 16% after the restaurant chain reported a profit rise above foreacsts.
Elena
02 May, 2007
New York City
Cablevision Systems Corp. jumped 8% after the cable TV provider said it struck a $10.3 billion deal to be taken private by its controlling shareholders, the Dolan family. In other deal news, Citigroup agreed to buy financial services outsourcing company Bisys Group for $1.45 billion in cash.
