123jump.com Staff
22 Nov, 2001
New York City
Market rallied in the late afternoon driven by falling bond yields after the release of minutes of last FOMC meeting. The 10-year bond yield fell to 4.44% from 4.47% on the hopes that Fed may stop raising rates sooner than anticipated. Investors drove stocks of home builders, utilities, financials and other rate sensitive stocks higher. Oil climbed 2% taking with it stocks in the energy sector higher.
Elena
22 Nov, 2005
New York City
U.S. stock averages have been weak, keeping below the unchanged mark as market has started consolidating gains, following an average 2.6% advance for the major indices so far in the fourth quarter. 1.7% surge in oil prices and uncertainty surrounding the release of this afternoon''s FOMC minutes have also helped cautious trading.
123jump.com Staff
21 Nov, 2005
New York City
News from GM fails to impress market. Even the talk of job losses of 30,000 and 12 plant closures in North America fail to support the stock price. Stock drops another 2% in the session. SanDisk stock drops 16.7% on the news that a joint venture between Intel and Micron will produce flash memory for Apple. The $2.5 billion joint venture is likely to drive flash memory prices down in the next nine months hurting SanDisk''''s profit margin.
Elena
21 Nov, 2005
New York City
Stocks have little changed in morning trading and are expected to remain quiet in this holiday-shortened week. General Motors was in the focus after it announced a plan to cut 30,000 jobs and Boeing also attracted attention, revealing a deal worth $9.7 billion. In earnings news, Campbell Soup posted Q1 2006 profit rise, beatig expectations. Hastings Entertainment'''''''' Q3 income beat expectations, but the stock sharply fell on lowered 2005 revenue outlook.
Elena
21 Nov, 2001
New York City
In corporate news, General Motors announced a plan to eliminate 30,000 manufacturing positions from 2005 through 2008 in order to reduce its assembly capacity in North America by an additional 1 million units by the end of 2008, bringing its target down to 4.2 million units. Boeing revealed a deal worth $9.7 billion for an order from the Emirates for 42 Boeing 777 airplanes with purchase rights to another 20 planes.
Elena
22 Nov, 2005
New York City
Asian-Pacific benchmarks closed largely lower, led by the biggest decliner South Korean Kospi, down by 2%. The Nikkei edged up 0.2% on strong dollar and exporter issues. European stocks were steady at mid-day. In earnings news today, H.J.Heinz posted Q2 profit increase of 60 cents a share on sales growth, beating estimates. Tech Data reported Q3 income drop of 40 cents per share, missing expectations. Genesco beat estimates with a profit rise of 61 cents a share.
Elena
22 Nov, 2005
New York City
In earnings news today, H.J.Heinz posted Q2 profit increase of 60 cents a share on sales growth, beating estimates. Tech Data reported Q3 income drop of 40 cents per share, missing expectations. Genesco beat estimates with a profit rise of 61 cents a share. Albertso''s Inc. announced 30% quarterly drop blaming hurricanes, missed estimates.
Elena
21 Nov, 2005
New York City
In corporate news, General Motors announced a plan to eliminate 30,000 manufacturing positions from 2005 through 2008 in order to reduce its assembly capacity in North America by an additional 1 million units by the end of 2008, bringing its target down to 4.2 million units. Boeing revealed a deal worth $9.7 billion for an order from the Emirates for 42 Boeing 777 airplanes with purchase rights to another 20 planes.
Elena
21 Nov, 2005
New York City
Asian-Pacific markets closed mixed with the Nikkei up 0.4%, hitting a fresh five-year peak of over 14,800 points. European stocks largely gained at mid-day, led by the German DAX 30, up 0.3%. In corporate news, auto maker General Motors is expected to announce plant closures as part of its restructuring plan. J.P. Morgan downgraded NIKE from ''overweight'' to ''neutral''.
Elena
18 Nov, 2005
New York City
At mid-day stocks settled at the unchanged mark. Merger-and-acquisition news has been the major market driver in early going. Cisco Systems Inc announced plans to buy Scientific-Atlanta Inc for $6.9 billion. Another giant, General Electric said it will sell most of its Insurance Solutions reinsurance division to Swiss Re for $8.5 billion. The company made that decision after losing $700 million from the insurance business over the last five years.
Elena
18 Nov, 2005
New York City
Merger-and-acquisition news has been the major market driver in early going. Cisco Systems Inc announced plans to buy Scientific-Atlanta Inc, the top U.S. maker of cable television set-top boxes, for $6.9 billion. Another giant, General Electric said it will sell most of its Insurance Solutions reinsurance division to Swiss Re for $8.5 billion. The company made that decision after losing $700 million from the insurance business over the last five years.
Elena
18 Nov, 2005
New York City
Asian-Pacific benchmarks advanced on economic optimism, Wall street rally and falling oil with the Nikkei hitting a new five-year high of 1.5% to 14,623,12. European stocks also gained at mid-day on automotive and airline sectors with each average rising 1.1%. In corporarte news, Cisco Systems Inc announced plans to buy Scientific-Atlanta Inc, the top U.S. maker of cable television set-top boxes, for $6.9 billion.
Elena
17 Nov, 2005
New York City
Hewlett-Packard posted 62% profit drop in the fourth quarter on $1.1 billion restructuring charges. The company released earnings of 14 cents a share on revenue of $22.9 million, but excluding charges it earned 51 cents a share, beating estimates of 46 cents. Shares of Google broke above $400 for the first time, rising 1% to $401.90 in morning trades. In its IPO of Aug 2004, Google held pricing at $85.
Elena
17 Nov, 2005
New York City
Stock advanced on upbeat economic data. The Fed Reserve, informed that U.S. industrial production rose unexpectedly by 0.9% in October, fueled by manufacturing output. In another report, the Labor Department said that initial jobless claims dropped to 303,000, their lowest level since April, versus expected decline of 322,000. In less positive report, the Dept of Commerce said that new construction of U.S. homes fell 5.6% to seasonally adjusted annual rate of 2,014 million.
Elena
17 Nov, 2005
New York City
Stock advanced on upbeat economic data. The Fed Reserve, informed that U.S. industrial production rose unexpectedly by 0.9% in October, fueled by manufacturing output. In another report, the Labor Department said that initial jobless claims dropped to 303,000, their lowest level since April, versus expected decline of 322,000. In less positive report, the Dept of Commerce said that new construction of U.S. homes fell 5.6% to seasonally adjusted annual rate of 2,014 million.
