Elena
25 Jul, 2007
New York City
After the initial gains on the back of strong earnings from Boeing and Amazon, U.S. stocks fell sharply lower following the release of a report which showed a bigger-than-expected drop in existing home sales in June. The National Association of Realtors said that sales of existing homes dropped 3.8% to the slowest rate in over 4 years. Another delay of the Chrysler deal sent financial stocks down.
Elena
25 Jul, 2007
New York City
Further on the earnings news front, Colgate-Palmolive Co. added 1.2% after posting a 47% increase in Q2 profit, meeting analyst estimates of 84 cents a share. Xerox Corp. posted 2.3% increase in Q2 earnings on strong revenue from financing and office equipment servicing and supplies. The company earned 28 cents a share, slightly better than the 27 cents expected by analysts. The stock dropped 5.3%.
Elena
25 Jul, 2007
New York City
Wall Street opened in the positive territory, boosted by robust earnings from Boeing Co. and Amazon.com. The Dow gained 81 points in the early going, reversing from the steep drop of over 200 points in the previous session. The blue-chip average was led higher by 3.5% advance in the shares of Boeing. It swung to a Q2 profit of $1.1 billion from a loss of $160 million, due to growth in its commercial airplane business. NY Times added 0.9% after posting better-than-expected earnings.
123jump.com Staff
25 Jul, 2007
New York City
Sensex in India fell from a record high in sympathy with international markets and higher rupee. IT stocks led the decliners and 23 of the 30 stocks in the Sensex fell. ONGC reported earnngs gain of 12% on lower revenue. Infosys received $250 million order from Philips Electronics for business services. Cement and infrastructure stocks declined sharply after rallying for two days. Government ordered an investigation in the business practices of top cement companies.
Elena
25 Jul, 2007
New York City
U.S. stock futures rebounded Wednesday from steep losses posted in the previous session. Stronger-than-expected results at Amazon.com and an improved earnings guidance at Boeing generated positive sentiment, helping to offset expectations of another decline in existing home sales. Amazon soared 23% in pre-open trading after the online retailer said its Q2 earnings tripled on 35% revenue growth. Boeing rose 3% after posting a $1.05 billion profit on strong jets sales.
123jump.com Staff
25 Jul, 2007
New York City
Stocks in Shanghai advanced to a new high on better than expected earnings from airlines and renewed buying in bank and financial services stocks. Hong Kong closed a fraction lower dragged by banks and oil companies. Aluminum companies soared to the daily limit of 10% on the speculation that metal prices will rise. HSBC continues to trade lower on sub-prime worries. New brokerage accounts in the first three weeks in July jump 30% from a year ago in China.
123jump.com Staff
25 Jul, 2007
New York City
Nikkei 225 Index declined 0.8% at close after recovering from a loss of 1.5% at mid-day. Nintendo earnings, sharply higher than expected lifted the average from its worst level in the day. Nintendo earings and revised annual earnings forecast lifted the market. Exporters declined in sympathy with losses in New York trading but shipping companies recovered at the close. Nomura reports earnings jump of more than three-fold.
123jump.com Staff
24 Jul, 2007
New York City
Nervous market lead to a sell-off in New York dragging with it other markets in Europe and South America. Three popular averages in New York fell nearly 2% prompting a similar declines in European exchanges. Brazil fell nearly 4%. Subprime worries got a new life after sharp declines in earnings reported by Countrywide Financial. Asian markets at the open will follow similar declines. Amazon.com, after the close reported earnings jump of 257% on revenue gain of 35%.
Elena
24 Jul, 2007
New York City
European stock markets posted steep losses Tuesday, with financials and energy firms leading decliners. Disappointing earnings from U.S. mortgage lender Countrywide Financial pressured financial shares like Axa and HSBC. London closed down 1.9%, as the worst floods in 60 years weighed on retailers. France and Germany followed suit, each falling 1.7%.
Elena
24 Jul, 2007
New York City
U.S. stocks moved steeply lower Tuesday, reflecting disappointing quarterly earnings from DuPont Co. and American Express, as well as renewed subprime concerns. Dow member DuPont fell 5.3% after the chemicals giant reported flat Q2 profit as higher sales offset the cost of energy and research. Company''s earnings missed the average analyst expectations. Another blue-chip, American Express dropped 4% as the company posted 12% profit growth in Q2, but also reported an 85% jump in loss provisions.
123jump.com Staff
24 Jul, 2007
New York City
Sensex in India closed up to a fifth record in a row. The index closed at 15,794, an increase of 0.5%. The earnings report from several companies dominated the trading sentiment. Earnings of Castrol India jumped 31%, Jindal Stainless soared 62%, and that of Indiabulls Financial soared 110%. NTPC and Asia Development Bank are in a joint venture to build a renewable energy plants company. ABG Shipping received order for 12 ships from Thailand based company.
Elena
24 Jul, 2007
New York City
U.S. stock futures were indicating a lower opening on Tuesday, dragged by continuous jitters in credit markets, as well as Q2 earnings drop and a soft outlook from chip maker Texas Instruments. Among other companies posting Q2 results, Lockheed Martin said its Q2 earnings rose 34% on higher sales across most of its businesses. AT&T reported 61% jump in Q2 net income, while PepsiCo posted Q2 profit rise to 94 cents a share, beating estimates.
Elena
24 Jul, 2007
New York City
The company said Q2 net income was $610 million, or 42 cents per share, down from $2.39 billion, or $1.50 per share. Quarterly revenue stood at $3.42 billion, down from $3.7 billion last year, due to a weaker demand for a broad range of products. The financial results met the average analyst expectations of earnings of 42 cents per share on $3.45 billion in revenue. Company''s shares fell 3.3% in pre-market trading.
123jump.com Staff
23 Jul, 2007
New York City
Global markets advanced led by a steady gain in New York and European markets. Takeover news worth $35 billion dominated the trading in two regions. Latin markets closed higher following the lead of New York. GlobalSanta Fe and Transocean have agreed to merge. Barclays agreed to sell 19% stake to Asian investors to raise funds for its bid for ABN Amro. United Rentals agreed to be acquired by private equity group for $4 billion. Yen fell to a record low. India and Korea close at a record high.
Elena
23 Jul, 2007
New York City
European stock markets closed higher on Monday, driven by merger deals in the financial sector with British banking giant Barclays and insurer Friends Provident in the spotlight. Barclays advanced 3% after it agreed to sell a 19% stake to China Development Bank and Singapore''s Temasek Holdings in order to fund an improved bid of 67.5 billion euros for Dutch bank ABN Amro. Germany advanced 0.9%, France also added 0.9%, and the U.K. gained 0.6%.
