Ivaylo
23 Oct, 2006
New York City
The mood in London is reflecting the lack of any major news so far today, with FTSE 100 now drifting after a decent start. Standard Chartered has climbed to the top of the benchmark index on a report that an investment arm in Dubai may raise its stake in the Asia-focused bank. Crude oil for December delivery fell sending Shell, BP and BG Group into early losses. The FTSE 100 declined 10.6 points, or 0.1%, after initially traded higher in opening exchanges.
Elena
23 Oct, 2006
New York City
U.S stock futures pointed to a mixed start on Monday as Ford reported disappointing results, while Xerox posted Q3 profit rise of 54 cents a share, from 5 cents a share last year. Dow component AT&T reported Q3 earnings rise of 56 cents a share, up from 38 cents a share a year ago. Excluding non-recurring items, earnings would have been 63 cents a share, exceeding estimates of 58 cents a share. Investors also looked ahead to a FOMC meeting Tuesday.
Elena
23 Oct, 2006
New York City
Ford reported net loss of $3.08 per share, larger than last year''s Q3 loss of $284 million, or 15 cents per share, and the largest since the fourth quarter of 1992. Ford Motor also said it will restate its earnings for 2001 due to accounting errors related to derivative deals. The restatement is expected to effect financial results from 2001 until the third quarter of 2006.
Ivaylo
23 Oct, 2006
New York City
Japanese shares hit a five-month high buoyed by expectations of upward earnings-guidance revisions by exporters amid a softening yen against the dollar. In Hong Kong, the Hang Seng Index ended flat, with traders awaiting earnings reports and economic data to be released later this week. Good earnings results, strong construction sector and firm global market could not outweigh N.Korea concerns in Seoul and the market finished flat too.
Ivaylo
23 Oct, 2006
New York City
Crude oil prices shed more than 1% on commodities exchanges, despite comments that Saudi Arabia was ready to join other OPEC members in production cuts. This news weakened the energy sector but was good news however, for European airlines and other heavy users of petroleum products. The FTSE 100 in London shed 0.1%, while Frankfurt Xetra Dax remained marginally higher at 6,207.22 and the CAC 40 in Paris fell 0.1%.
Ivaylo
23 Oct, 2006
New York City
The market did not hold at $600 on Friday and that reinforced the overdone view. It advanced on not much, and declined on not much, and that, combined with weak oil prices, left gold at the lower end of a recent rang. Once the $590 level was broken then it would head right to $580. It was a sell-the-rally environment. The market looks like it has headed downward, now that strong demand in September and part of October out of India and the Middle East has sagged.
123jump.com Staff
20 Oct, 2006
New York City
Industrial stocks traded lower after Caterpillar released earnings of 95 cents. The stock dropped 13%. SanDisk dropped 20% after it warned that fourth quarter earnings will drop between 15% and 20% on flash memory price slow down. Coca Cola rose 4% on earnings and broker recommendation. 3M reported earnings of $1.18 vs. $1.08 a year ago. Google jumped 7% on higher than expected earnings.
Elena
20 Oct, 2006
New York City
European stock markets closed mostly higher, with retreating oil prices helping to erase some of the earlier gains. The oil-sensitive London FTSE 100 ended down 0.01% at 6,155.20. Across the region, the German DAX 30 closed up 0.41% at 6,202.82. In Paris, the CAC 40 gained 0.29% at 5,375.35.
Elena
20 Oct, 2006
New York City
SanDisk tumbled 20% amid concerns about pricing pressure and oversupply for the company''s flash memory storage technology used in consumer electronic gadgets. Company''s stock was downgraded at Citigroup and Oppenheimer to hold from buy. On Thursday, SanDisk reported Q3 profit drop of 4% to 51 cents a share, despite 27% revenue growth.
Elena
20 Oct, 2006
New York City
In after-the-close release, Reliance Industries posted yesterday better-than-anticipated results. In trading today, though, the Sensex finished lower in a highly volatile session due to a last-minute selling pressure which broke the otherwise solid trend in earlier hours. Reliance led the advancers, Bharti Airtel and Tata Steel followed suit. Satyam led the decline, together with Bajaj Auto. Corus, the Anglo-Dutch accepted the proposed bid by Tata Steel. Wholesale Price Index remains unchanged.
Elena
20 Oct, 2006
New York City
Stocks traded in a lackluster fashion at opening, with the Dow erasing gains on disappointing Caterpillar results a day after breaking through 12,000 for the second day in a row. The Dow component dropped 10.6% after warning that costs, a slowing housing market and lower sales would negatively affect its earnings by the end of 2006 and 2007. However, the decline was limited by 2% gain for 3M and 1.3% for Merck after they reported better-than-expected Q3 earnings.
Ivaylo
20 Oct, 2006
New York City
Heavy truck maker Caterpillar failed to mpost results in line with expectations and led U.S. futures lower. The London benchmark index also followed suit. Corus, which has agreed to a deal from Indian Tata Steel, also declined. Next and media company SMG sank as well. Wolfson Microelectronics plummeted after the company said full-year revenues would fall below expectations. Hanson advanced despite profit warnings from Martin Marietta and ITV rose too. The FTSE 100 declined 1.4 points, or 0.02%.
Elena
20 Oct, 2006
New York City
U.S. stock futures moved to the downside, hurt by disappointing earnings and guidance from blue chip equipment maker Caterpillar. Rebounding crude oil prices also weighed. Caterpillar slipped 8% in preopen trading on disappointing Q3 earnings of $1.14 a share, up from 94 cents a year ago, but missing expectations of $1.35. In contrast, Google Inc. climbed 7.5% after the Internet search giant reported a 92% profit jump.
Elena
20 Oct, 2006
New York City
Under the terms of agreement Corus stockholders will receive 455 pence in cash for each of their shares. The offer is at a 26.2% premium to the 12-month average closing price for Corus shares, but it came in below their market price. Corus shares fell 1.6% in London. Tata Steel rose 1.4% in Bombay.
Ivaylo
20 Oct, 2006
New York City
Japan and Australia led Asian stocks higher on Friday, as investors were upbeat, tracking a record-high close for the U.S. market while recovering oil prices after newly-announced production cuts by OPEC nations gave a boost to Inpex Holdings Inc., PetroChina and other energy companies. South Korea ended higher with diplomatic efforts still continuing to defuse the North Korean nuclear crisis.
