Elena
19 Jun, 2006
New York City
Stocks opened higher Monday as news of a joint venture between Nokia Corp. and Siemens AG gave the market momentum to extend last-week gains. Nokia jumped 71 cents to $20.68 and Siemens surged $6.02 to $85.82.
Circuit City Stores Inc. swung to a profit from a year-ago loss, helped by store improvements and strong sales of flat-panel televisions. The company said net sales advanced 17.5%, while same-store sales advanced 14.6%.
Elena
19 Jun, 2006
New York City
Circuit City Stores reversed to a Q1 net profit of 4 cents a share, up from a year-ago loss of 7 cents a share. The company''s sales advanced 17.5%, while same-store sales advanced 14.6%. CarMax reported Q1 earnings advanced to 53 cents a share, up from 35 cents a share a year-ago on 19% revenue growth, above analyst expectations.
Elena
19 Jun, 2006
New York City
The 50-50 joint venture will be comprised of Nokia''s network business group and Siemens'' carrier-related operations, creating estimated synergies of 1.5 billion euros ($1.9 billion) by 2010. This move will help the two major companies to compete with market leader Ericsson AB. The joint venture will be called Nokia Siemens Networks.
Ivaylo
19 Jun, 2006
New York City
On Friday, China''s central bank announced it was lifted the deposit reserve requirement for commercial banks by a half-point to 8% in an attempt to cool down soaring loan growth on the mainland.That fact reverberated across the region. Japanese stocks declined slightly following a three-day gain. China''s central bank move helped push shares in Hong Kong lower. In South Korean, shares closed lower due to worries about a possible missile test by North Korea hurting sentiment.
Ivaylo
19 Jun, 2006
Frankfurt
European stocks were given a huge lift by Nokia and Siemens merger. Nokia Siemens Networks, which combines Nokia
Ivaylo
19 Jun, 2006
Metals
Due to worries of rising inflation and interest rates, gold has withdrawn sharply from its 26-year high above $730 an ounce hit in May. On Thursday, the metal ended higher for the first time in eight sessions, joining in a broader market recovery. The markets are still absorbing the idea that the Fed will hike rates. With the Fed fighting inflation, the perception is that this move is detrimental toward gold.
Yordanka
18 Jun, 2006
New York City
This week
123jump.com Staff
16 Jun, 2006
New York City
Market averages settled near unchaged level with no clear direction in trading. Gold and oil rose at close. Carnival, Media General, Winnebago and Benihana rose on earnings news. Benihana rose 6.5% and Carnival advanced 5.3%. Markets in Europe closed lower but in Asia and Latin America closed higher. South Africa jumped 5% and Brazil gained nearly 4%. In Paris, Aeroport de Paris IPO rose 8%.
123jump.com Staff
16 Jun, 2006
New York City
Market appears to rest near unchanged level after rising for two days. European and emerging markets around the world closed higher on the last trading day of the week. Precious metals and oil are on the decline. Current account deficit in the first quarter fell to 6.4% of GDP from 7% in fourth quarter in 2005. Carnival reported 46 cents of earnings and Media General reproted that the current fiscal Q2 earnings will exceed 80 cents earnings a year ago.
Elena
16 Jun, 2006
Frankfurt
European markets failed to sustain solid gains posted yesterday and Friday closed in the negative territory. In a day when a lot of options and futures contracts expired, market sentiment was hurt by renewed interest rate concerns and weaker start on Wall Street. The German DAX 30 tumbled 0.9%, the French CAC 40 dropped 0.6%, and London FTSE 100 fell 0.4%.
Elena
16 Jun, 2006
New York City
U.S. stocks traded down as Microsoft fell on news that Chairman Bill Gates will give up his day-to-day role in the company in 2008. Shares of major oil and materials companies traded lower, following news that China''''s central bank will raise bank reserve requirements by half a percentage point effective July 5. Shares of integrated oil firm Exxon Mobil Corp. were down 0.8% to $58.68, while aluminum maker Alcoa Inc. lost 0.8% to $30.02.
Elena
16 Jun, 2006
Mumbai
World-wide emerging markets rallied for the second day. Sensex in India advanced for the second day in a row. Advancers beat the decliners by a margin of five to one. U.S. led recovery in the global markets may not sustain for a long. U.S. economy continues to suffer from structural trade and budget deficit and rising cost of Iraq occupation. Sensex in India will rise and fall with the monsoon rains in the coming weeks.
Elena
16 Jun, 2006
New York City
Stocks opened lower on worries that China''s move to curb credit could slow corporate earnings growth. A decline in Microsoft''s shares also weighed. In economic news, the Commerce Department reported that the U.S. current account trade deficit fell to $208.7 billion in Q1 quarter, down 6.5% from the all-time high deficit of $223.1 billion set in Q4 last year.
Elena
16 Jun, 2006
New York City
Stock futures pointed to a lackluster opening of Friday trading session, reflecting news of mixed nature from two major software companies, as Oracle released a positive report on the tech side, but Microsofts shares came under pressure after Bill Gate''s announcement that he will give up his day-to-day role in the company in 2008.
Ivaylo
16 Jun, 2006
New York City
Major U.S. indexes took their biggest single-day gains in more than a year. The rally, in the wake of the absence of hawkish comments in a speech by U.S. Fed chief Ben Bernanke overnight, lifted the Nikkei 225 Stock Average to a third straight day of gains, ending a volatile week with a slight advance. The market is rallying as pessimism about the outlook for the U.S. economy, Japan''s biggest export market, has begun to fade.
