123jump.com Staff
19 May, 2006
New York City
Market remained unsettled for the most part of trading session. Market averages charted volatile path with no clear direction. Market has been unsettled as of may 10th when Fed raised interest rates and gave no clear direction for the future rate hikes. Gap inc revenue declined 17% and guided that same-store sales will stop falling in the second half of the year. Benihana dropped 25% on lowered earnings guidance. Hibbett Sporting Goods fell 10% and Rackable Systems fell 9%.
Elena
19 May, 2006
Frankfurt
European markets closed mostly higher, helped by gains for BNP Paribas, British Airways and a lifted bid for steel maker Arcelor. BNP Paribas climbed 3.5% Arcelor climbed 9% after Mittal raised its bid 34% to nearly $33 billion. The German DAX 30 added 0.1%, the French CAC 40 rose 0.7%, while London
Elena
19 May, 2006
New York City
Mittal Steel raised its hostile bid for rival steelmaker Arcelor SA by 34% to $32.9 billion in cash and stock. Should the takeover take place, the two joined companies would have control of 10% of the world''s steel production. Arcelor rejected an earlier offer of $27 billion, but said it would consider the new bid.
Elena
19 May, 2006
Mumbai
The news that the Indian government will introduce guidelines to draw a distinction between investment and speculative trading is still rattling the market, despite state clarification that it will be done carefully not to affect international investors. The benchmark was off to a positive start but quickly got caught in volatility and closed 4% lower.
Elena
19 May, 2006
New York City
Stocks opened in the positive. The semiconductor sector was one of the best performers in the early going on Friday. News that Dell Inc. would begin using AMD chips in its top-selling computers gave both stocks a boost and supported the technology sector. Dell rose 3% and Advanced Micro Devices climbed 8.5%.
Elena
19 May, 2006
New York City
Bausch & Lomb Inc., maker of contact lens care products, permanently withdrew its contact lens solution MoistureLoc from the world markets on Monday. In April, federal regulators revealed they were investigating links between its new-formula contact lens cleaner and a rare fungal infection known to cause blindness.
Ivaylo
19 May, 2006
Frankfurt
US stocks ended down Thursday as a last minute sell-off canceled out profits made earlier in the trading. Otherwise, for analysts, the weaker-than expected growth in job rates might end fears that the increase will continue. The FTSE 100 in London advanced 0.2% in early trade, as did the Xetra Dax up also 0.2% and the CAC-40 in Paris rising 0.4% higher.
Ivaylo
19 May, 2006
Metals
Investors normally turn to safe-haven gold when the U.S. economy seems to be on the decline. Precious metals prices have the potential to go higher, but that volatility damages the market. It appears that for the time being the metal will continue being affected by the U.S. dollar rates and that the consolidation phase is not over yet.
Elena
19 May, 2006
New York City
Stock futures advanced Friday with Dell and AMD boosting technology stocks. Dell rose 3.6% before the opening bell after the computer maker posted earnings in line with expectations. Advanced Micro Devices climbed 12.3% in pre-market trading after the chip maker said Dell would offer its processors in Dell servers by year''s end. AMD rival Intel Corp. fell 4.8%.
123jump.com Staff
18 May, 2006
New York City
Market averages made a feeble attempt to rise in the mid-morning session. In the final trading hour averages came under selling pressure triggered by sell programs and rising skepticism in the trading community. Dow and S&P 500 are down 5% and Nasdaq is down 8% in the last eight trading days. Natural gas closed below $6 mBTU, a six month low. Several retailing companies released earnings. Sears rose 15%. Foot Locker, Children''''s Place, New York & Co and Limited reported earnings.
123jump.com Staff
18 May, 2006
New York City
Sears Holdings Corp reported a net income of $180 million for Q1. This year-period
123jump.com Staff
18 May, 2006
New York City
Market is on a mild rebound after three straight sessions of losses. Weekly unemployment claims rose to 367,000 from 325,000 a week ago. Mittal Steel in Europe launched an official offer to takeover Arcelor for $27 billion. Burger King priced its IPO of 25 million shares at $17 per share. The shares are trading 6% higher at mid-day trading.
Elena
18 May, 2006
New York City
Stocks turned to lackluster trading in late morning as investors remained worried about inflation and interest-rate hikes. The negative sentiment was limited by gains for Hewlett-Packard and Shares Corp. Hewlett-Packard rose 2.3% after Morgan Stanley upgraded the stock. Shares of Sears rose 12.4% after the company reported a much bigger-than-expected quarterly profit. Among other gainers, Trend Micro rose 6.5%, while Ctrip climbed nearly 9% on strong full-year results.
Elena
18 May, 2006
Mumbai
Today
Elena
18 May, 2006
New York City
U.S. stocks advanced at opening, recuperating from steep losses the previous session, as investors turned to bargain hunting. Sears Holdings Corp. led gainers, rising 12% after reporting a much bigger-than-expected quarterly profit. The department store operator reported Q1 earnings of $1.14 a share, up from a loss of 7 cents a share a year-ago.
