Elena
14 May, 2007
New York City
The three major averages pulled back off their highs for the session as buying interest diminished ahead of the release of some key economic data, including a closely watched report on consumer price inflation. Profit-taking helped offset news that DaimlerChrysler AG agreed to sell 80% of Chrysler for $7.45 billion news. The tech-heavy Nasdaq was even dragged lower by weakness among disk drive, networking, and internet stocks. Dell dropped 2.1%, Yahoo lost 1.7%, and Cisco fell 1%.
Elena
14 May, 2007
New York City
Merger activity continued Monday to play a major role in determining market direction. Mylan Laboratories fell 13% after it agreed to pay $6.7 billion for the generic drug-making arm of Merck KGaA. Cardinal Health said it would pay $1.5 billion for Viasys Healthcare in a deal representing a 35% premium to Friday''s close. Viasys surged 36%.
Elena
14 May, 2007
New York City
Wall Street opened in the positive amid strength in the automotive sector, generated by news that DaimlerChrysler AG said it will sell 80.1% of struggling Chrysler to Cerberus Capital Management LP for $7.4 billion. Among blue chips, General Motors Corp. jumped 5.7%, while Ford Motor Co. gained 4.5% on reports that the Ford family is planning to sell part of its controlling stake in the company.
Ivaylo
14 May, 2007
New York City
London plunged as investors took profit on the miners with a string of broker comments adding to pressure on the sector. Rio Tinto led the mining sector lower and a downgrade also sent miner Lonmin falling. Media stocks were stronger with Pearson leading the sector higher, while strong first-half results helped energy group Centrica surge. The FTSE 100 was down 18.9 points to 6,546.8.
Elena
14 May, 2007
New York City
U.S. stock market futures were indicating a flat opening on Monday, with DaimlerChrysler being in the spotlight after a private-equity fund agreed to buy 80.1% of its Chrysler Group for $7.4 billion. The Big Three automakers will also be in focus, with General Motors rising 1.9% in pre-market trading and Ford Motor gaining 3.6%.
Ivaylo
14 May, 2007
New York City
Asian markets finished mostly higher Monday, leaving behind the effects of losses on Friday on strong gains in Japanese exporters, while relaxing mainland banking restrictions sent Hong Kong stocks surging. In Shanghai, property developers and cement makers rallied on expectations of further gains in real-estate prices, supporting Chinese stock market recovered a sharp decline in the morning.
Elena
14 May, 2007
New York City
DaimlerChrysler agreed to sell 80.1% of its Chrysler Group to private equity firm Cerberus Capital Management LP in a deal worth $7.4 billion, undoing a 1998 merger aimed at creating a global auto giant. The automaker said that an affiliate of Cerberus will hold the majority stake in a new Chrysler Holding LLC while DaimlerChrysler will keep a 19.9% stake.
Ivaylo
14 May, 2001
New York City
Strong quarterly results from the State Bank of India, prospects of political stability in Uttar Pradesh and robust world markets saw the benchmark index surge on Monday. The Sensex opened with a huge positive bias and traded firm throughout the day in a narrow range. SBI led the gainers, while Dr Reddy
Ivaylo
14 May, 2007
New York City
European markets got a boost from deal news on Monday morning, with shares in car company DaimlerChrysler and pharmaceutical Merck standing out as investors eyed some potentially transformational transactions. DaimlerChrysler advacned after the carmaker chose private-equity firm Cerberus as the finalist in the bidding for its Chrysler unit. The German DAX Xetra 30 index added 0.5%, the French CAC-40 index rose less than 0.1% and the U.K. FTSE 100 index increased 0.2%.
Ivaylo
14 May, 2007
New York City
A surge in prices of corn, soybeans and wheat stole the spotlight in commodities futures trading on Friday. Precious metals futures climbed on the NYME with help from short covering, bargain-hunting buying and the weakness of the dollar. Copper futures also advanced on bargain-hunting and on spillover support from strong gains in precious metals. Crude oil futures reached a one-week closing high, buoyed by strength in gasoline futures on refinery glitches.
123jump.com Staff
11 May, 2007
New York City
U.S. stocks rebounded with flat core producer prices and a decline in April retail sales on speculation that next move for rates will be lower. Europe advacned, led by mining and utility shares and on buyout speculation on Societe Generale. Asian stocks declined the most in more than two weeks after metals prices fell. Chicago Merc gained 7% after it raised its offer for Chicago Board of Trade. Chinese April trade surplus doubles to $17 billion.
123jump.com Staff
11 May, 2007
New York City
U.S. stocks advanced as investors interpreted a government report of milder inflation as a signal that the Federal Reserve might consider cutting interest rates later this year. American International Group first-quarter profit rose 29%. CBOT rose 3%. Alcatel-Lucent SA posted a loss.
Elena
11 May, 2007
New York City
European stock markets posted gains on Friday, boosted by deal-related gains managed to offset negative sentiment, generated by weak earnings. Societe Generale rose 4.7% on speculations that the bank is a target for eight different groups. Utility shares alsi gained. RWE rose 6% on reports that France''''s EdF plans to buy it. The German DAX 30 closed up 0.9%, the French CAC-40 added 0.6%, and the U.K.''s FTSE 100 rose 0.6%.
Elena
11 May, 2007
New York City
The U.S. market indexes rebounded on Friday on the back of upbeat key economic data. Tame core inflation and an unexpected drop in retail sales generated optimism about the outlook for interest rates. The networking sector moved notably higher, helped by 3.8% rise for Alcatel-Lucent which reported a Q1 loss but released a positive forecast about the second half of the year. Resource stocks also gained amid an increase in commodities prices.
Elena
11 May, 2007
New York City
American International Group rose 0.5% after the insurer reported 29% profit rise in Q1. The company also disclosed that it would take a pretax charge from its subprime loan exposure. Chip maker Nvidia climbed 7% after reporting better-than-expected Q1 results. Tech stocks Cisco Systems, Microsoft, Delln advanced 1% each.
