Elena
02 Mar, 2007
New York City
Dell Inc. reported disappointing Q4 results, blaming weak sales of laptops and notebooks. The computer maker posted 33% net income drop to $673 million, or 30 cents per share, compared with $1.01 billion, or 43 cents a year earlier, as revenue fell 4% to $14.4 billion. The biggest revenue shortfall was in mobility products and desktop PCs, accounting for 58% of Dell''''s revenue.
Ivaylo
02 Mar, 2007
New York City
European stocks markets retreated from opening gains and turned lower, heading for weekly losses as turbulent trading resumed. Disappointing results from Adecco and Mediaset helped losses extend into a fourth day. Mediaset declined after downgrades, while Adecco reported revenue falling short of expectations. Frankfurt Xetra Dax was 0.5% lower, the CAC 40 in Paris fell 0.6% and London FTSE 100 slipped 0.2%.
Ivaylo
02 Mar, 2007
New York City
Late-day liquidation sent gold and silver futures lower Thursday, with the selling accelerating in silver when the market went through its previous lows and fell to its weakest level in a month. Gold continued to be buffeted by speculative liquidation. Both platinum and palladium declined, while energy stocks finished mixed as oil and gasoline gained while heating oil and natural gas lost.
123jump.com Staff
01 Mar, 2007
New York City
The global sell-off in stocks continued in the U.S. after the nation''s biggest mortgage lender warned of more delinquencies and the outlook for inflation and unemployment worsened. Gains in companies whose earnings are less reliant on economic swings helped keep the market from falling more. Utilities, led by Duke Energy Corp., gained the most. Oracle Corp. jumped on $3.3 billion stock buy-back. Dell reported earnings and sales that missed lowered estimates. Europe and Asia closed lower.
123jump.com Staff
01 Mar, 2007
New York City
Stock fell but recovering after deep declines that followed more losses in Asia and Europe, mixed economic data, comments from a Japanese official about yen carry trades and more concerns about the sub-prime lending industry. Motorola shares rose 2.3%.Oracle has agreed to buy Hyperion Solutions for $3.3 billion. Staples said fourth-quarter profit increased 22%.
Elena
01 Mar, 2007
New York City
European stocks closed in the negative for a third straight session, extending recent losses amid growing U.S. inflation concerns and the unwinding of the yen carry trade. Deutsche Telekom and U.K. insurer Aviva also generated negative sentiment. Germany''s Deutsche Telekom dropped 3.8% after it swung to a Q4 loss. Shares in France Telecom fell 1.8%, Telecom lost 2.4% and KPN tumbled 5.4%. The French CAC 40 slipped 1.1%, the German DAX 30 lost 1.1%, and the U.K.''s FTSE 100 dropped 0.9%.
Elena
01 Mar, 2007
New York City
Wall Street rebounded after a report indicated expanded manufacturing activity in February against expectations for further contraction in the sector. The ISM''s purchasing managers index rose to 52.3%, up from 49.3% in January and above the forecast reading of 50%. The Dow was helped by gains for several major blue-chip stocks, including Boeing, Coca Cola and Merck & Co. Biotechnology stocks continued to post losses, dragged by Amgen with a decline of 3.3% on SEC probe.
123jump.com Staff
01 Mar, 2007
New York City
U.S. stocks steeply dropped at opening, as losses in global markets and resumed inflation jitters led to another heavy sell-off. The Dow Jones industrials slipped 200 points in the opening minutes of trading, with 30 of its components in the negative. Economically sensitive stocks were leading losers in the blue-chip average. Alcoa fell 3%, General Motors fell 2.8%, and Caterpillar lost 2.3%. However, a stronger-than-expected ISM''''s manufacturing index helped trim losses.
Ivaylo
01 Mar, 2007
New York City
London stock exchange lost intraday gains on Thursday, as Dow futures predicted opening with a negative bias for Wall Street indices. Pressure from across the Altlantic undermined a morning recovery powered by bargain hunting and strong earnings news from Reuters and British American Tobacco. The mining sector, at the forefront of the two-day sell-off, declined as sentiment worsened again. The FTSE 100 fell 1.39% to 6,102
Ivaylo
01 Mar, 2007
New York City
Asian market closed mostly lower on Thursday, with China and Japan, leading the decline. The fall slowed down significantly, though, from the previous session sell-off and prompted that the drop from the recent market turmoil may be short-lived. Investors were wary Thursday amid worries about the state of the U.S. economy following remarks from former Fed Chairman Alan Greenspan earlier in the week. Shares in HK and Taiwan also fell.
Elena
01 Mar, 2007
New York City
U.S. stock markets looked poised for weaker opening Thursday, dragged down by extended sell-offs in European and Asian markets and a bigger-than-expected increase in core inflation. The U.S. Commerce Department said core CPI rose 0.3% in January, pushing inflation up 2.3%, above the 1% to 2% range favored by the Federal Reserve. The Labor Department said that initial jobless claims rose 7,000 in the latest week. Investors were also awaiting a key manufacturing report.
Ivaylo
01 Mar, 2007
New York City
The market staged a smart recovery Thursday after two days of declines on the back of large-cap rally and short-covering in the derivative segment. Software companies spurted after investors were reassured that new taxes, imposed by the government in the budget, would not impact earnings. Infosys and Satyam led the advancers, together with HDFC Bank and Reliance Comms. Bajaj Auto and ACC led the decliners. India exports increased 5.5% in January, while imports grew 23%.
Elena
01 Mar, 2007
New York City
Software provider Oracle Corp. reportedly agreed to acquire the producer of business-intelligence software Hyperion Solutions Corp. in a deal worth $3.3 billion, or $52 a share. The offer price represents 21% premium over Hyperion''s closing price Wednesday of $42.84. deal is expected to close in April 2007.
Ivaylo
01 Mar, 2007
New York City
European stock markets staged a slight recovery on Thursday after two days of sharp declines, led by a recovery in financial stocks, particularly those hardest hit during the market correction. European markets were also supported by the partial recovery on US market overnight. By mid-day, the main stock exchanges in Europe were higher. Frankfurt Xetra Dax was up 0.5%, the CAC 40 in Paris was 0.5% higher and London FTSE climbed 0.8%.
Ivaylo
01 Mar, 2007
New York City
Gold futures ended Wednesday with a loss of nearly $15 an ounce, with the market still in doldrums a day after a global stock-market sell-off. The corn market advanced as the uncertainties of acreage and weather, coupled with bullish underlying fundamental outlooks, rekindled buying. Silver took its cue from gold, while platinum ended higher. Most energy futures gained with only natural gas bucking the trend.
