Elena
26 Jul, 2006
New York City
Stocks opened lower on profit taking after recent rally. Boeing Co. fell 4.6% after it reported a Q2 $160 million loss on more than $1 billion in charges. Black & Decker reported Q2 net profit increased 0.9% from a year ago to $1.98 a share, while sales declined 0.1% to $1.697 billion. Amazon fell 17% after it released a disappointing quarterly report, putting pressure on the Internet sector. Getty Images dropped 15% on 35% profit drop for the second quarter.
Elena
26 Jul, 2006
New York City
U.S. stock futures pointed to a mixed opening on earnings reports from Amazon and GM. Amazon dropped 13% as the company lowered its profit outlook, while General Motors rose 4% in pre-market trading. The automaker posted Q2 profit loss of $5.62 per share vs. a loss of $1.75 last year on heavy restructuring charges, but operating profit well above estimates and 12% sales growth.
Elena
26 Jul, 2006
New York City
On Monday a group of private equity firms, including Bain Capital, Kohlberg Kravis Roberts & Co. and Merrill Lynch & Co offered $21.3 billion for HCA. Terms of the agreement give Bain, KKR and Merrill the right to top any counteroffer. Blackstone hasn''t yet invited other private-equity firms to join any potential offer.
123jump.com Staff
25 Jul, 2006
New York City
Amazon.com reported earnings of 5 cents vs. 12 cents a year ago on revenue rise of 22%. The company also guided third quarter revenue rise of between 17% and 25% and earnings to drop between 24% and 87%. The stock lost more than $3 in the after hours trading.
123jump.com Staff
25 Jul, 2006
New York City
Consumer sentiment rose despite higher oil and commodity prices and housing market report showed another sign of slow but steady decline in the market. Inventory of unsold homes rose. McDonlad''s, Altria, Texas Instruments and SanDisk reported solid advance. UPS plunged 10% on the third quarter earnings guidance. European and Latin Markets closed higher. Oil declined but gold rose a fraction.
Elena
25 Jul, 2006
Frankfurt
European markets closed largely in the positive. Upbeat market sentiment was generated by strength in the mining sector and several earnings reports. Commodities stocks like Rio Tinto and Anglo-American advanced over 0.8%, boosted by an increase in commodities prices. The French CAC 40 rose 0.4%, London FTSE 100 gained 0.3%, while DAX 30 declined 0.2%.
Elena
25 Jul, 2006
Mumbai
Market took the interest rate hike in stride and gained 1.9% on solid earnings, rally in other Asian markets and comfort with strong consumer spending. Daily turnover in the market is still at its worst level of the year with the persistent worries that international investors may withdraw funds from the Indian stock market. Tata Motors reported 40% rise in profit after the close of trading hours.
Elena
25 Jul, 2006
New York City
Stocks traded in a lackluster fashion, reflexing mixed earnings news and an unexpected jump in consumer confidence. The Conference Board said consumer confidence index for July rose 1.1 points to 106.5, vs. predictions of a 1.4-point drop. According to another report, existing home sales fell 1.3% to a seasonally adjusted annual rate of 6.62 million units in June from an upwardly revised rate of 6.71 million units in May.
Elena
25 Jul, 2006
New York City
U.S. stocks opened flat due to a mixed batch of earnings reports and rising oil. United Parcel Service, delivery company, said that its Q2 net income jumped to 97 cents a share from 88 cents a share a year ago on 15% sales growth, but lowered its Q3 outlook. McDonald''s Corp. said Q2 net income advanced 57% to 67 cents a share from 42 cents a share a year earlier.
Elena
25 Jul, 2006
New York City
U.S. stock futures pointed to a flat opening, taking a break from yesterday
Elena
25 Jul, 2006
New York City
Japan banned U.S. beef earlier this year amid concerns about mad cow disease, but agreed to resume imports last month on condition that Japanese inspectors found no problems at U.S. plants. Japanese officials have not decided what to do if any problems are found at the U.S. plants.
123jump.com Staff
24 Jul, 2006
New York City
Market averages rallied on $21 billion deal to acquire HCA, American Express reported 78 cents per share earnings beating the estimates of 74 cents and $10.2 billion deal in Europe for semiconductor business of Philips Electronics. Large and small cap stocks rallied. Tech stocks got a boost from an upgrade on Dell by Citigroup. Merck reported 73 cents and Schering-Plough reported operating income of 25 cents.
Elena
24 Jul, 2006
New York City
Astec Industries posted Q2 net income of 56 cents a share compared with 49 cents a year ago on 12% sales growth. The company''s June 30 backlog amounted to $121.7 million, climbing 38.2% from 2005. Titanium Metals reported a 62% growth in Q2 net income to 31 cents a share vs. 20 cents a share a year earlier, citing higher revenue. Gateway Financial Holdings said that its Q2 net income increased 68% as net interest income advanced 69% from a year ago.
Elena
24 Jul, 2006
New York City
Stocks moved notably higher at opening, boosted by multibillion-dollar mergers, strong earnings from drugmakers, and retreating oil prices. Three equity firms offered to buy hospital operator HCA for $21.3 billion and assume $11.7 billion of debt. In another deal, AMD agreed to acquire graphics chipmaker ATI Technologies Inc. for $5.4 billion in cash and stock.
Elena
24 Jul, 2006
New York City
Stock futures indicated a positive start of trading session, supported by a couple of takeover deals and stronger-than-expected earnings reports. Drug maker Schering-Plough reported a Q2 profit above forecasts on sharply higher sales of its cholesterol drugs. Company
