123jump.com Staff
17 Oct, 2005
New York City
General Motors reported larger than expected loss but investors cheered as the company annouced agreement with UAW to cut 25,000 jobs and cut total of $5 billion in annual cost by 2006. Citigroup, Schwab and Wachovia reported better than forecasted earnings. Citigroup shares fell. After-the-close IBM reported earnings of 94 cents vs. $1.03 a year ago. Excluding one-time charges, the earnings were $1.26 vs. average estimate of $1.13 per share.
Elena
17 Oct, 2005
New York City
A number of major companies released quarterly results. Citigroup posted 35% Q3 earnings rise of $1.38 per share on higher revenue. Commerce Bancorp released Q3 13%earnings growth of 45 cents a share, meeting estimates. GM posted wider Q3 loss of $1.92 a share, missing estimates of a loss of 87 cents. Schwab reported 16 cents profit vs. loss of 3 cents a year ago and Wachovia reported Q3 profit of $1.06 vs. 96 cents a year ago.
Elena
17 Oct, 2005
New York City
A number of major companies released quarterly results. Citigroup posted 35% Q3 earnings rise of $1.38 per share on higher revenue. Commerce Bancorp released Q3 13%earnings growth of 45 cents a share, meeting estimates. GM posted wider Q3 loss of $1.92 a share, missing estimates of a loss of 87 cents.
Elena
17 Oct, 2005
New York City
Asian-Pacific markets finished down on banking shares decline, with the Nikkei down 0.2% and Seoul's Kospi down 1.2%. European stocks were steady at mid-day. Citigroup posted 35% Q3 earnings rise of $1.38 per share on higher revenue. Commerce Bancorp released Q3 13%earnings growth of 45 cents a share, meeting estimates. GM posted wider Q3 loss of $1.92 a share, missing estimates of a loss of 87 cents.
123jump.com Staff
16 Oct, 2005
New York City
Earnings news is likely to overshadow light economic calendar for the week of of Oct 17th. More than four hundred companies to report earnings this week. Citigroup, IBM, GM, Nokia, Intel, Google, eBay, Merrill Lynch and Peabody Corp to dominate earnings news of the week. General Motors earnings report to focus on North American operations and negotiations with labor union to cut healthcare costs.
Yordanka
15 Oct, 2005
New York City
IPOs priced in the last week got cold shoulder from investors. Four deals were priced at the low end of the filing range and closed either at or below the deal price. One of the recent IPOs, Refco, created worldwide headlines as the firm rapidly disintegrated in the face of CEO led scandal. Chicago Board of Trade awaits warm welcome on IPO calendar.
123jump.com Staff
14 Oct, 2005
New York City
Market braved the rally at the end led by financial stocks. Disappointing retail sales, falling consumer confidence and oil prices and sharpest rise in CPI in 25 years did not deter market's ascend. GE, United Health and Knight Ridder met or beat the eestimates but Boston Scientific disappointed the market. Gasoline futures dropped to a six-month low.
Elena
14 Oct, 2005
New York City
The Labor Dept. said that consumer prices rose 1.2% in September on higher energy prices, exceeding expectations of a 0.9% rise. Another report showed that retail sales in September increased by 0.2%.The Federal Reserve reported that industrial production fell by 1.3% in September, mostly due to hurricane-related issues.
Elena
14 Oct, 2005
New York City
The Labor Dept. said that consumer prices rose 1.2% in September on higher energy prices, exceeding expectations of a 0.9% rise. Another report showed that retail sales in September increased by 0.2%.The Federal Reserve reported that industrial production fell by 1.3% in September, mostly due to hurricane-related issues.
Elena
14 Oct, 2005
New York City
Asian benchmarks closed lower ahead of U.S. inflation data, led by Hong Kong's Hang Seng, down 1%. The Nikkei shed 0.2%. European stocks traded in the negative territory with the French CAC 40 leading the losers. General Electric posted strong Q3 earnings of 44 cents a share, meeting expectations. Hilton Hotels Corp. is buying Hilton Group's hotels for $6.3 billion. Consumer prices rose 1.2% in September on higher energy prices, exceeding expectations of a 0.9% rise.
123jump.com Staff
13 Oct, 2005
New York City
Another month, another trade deficit. This time it was $59 billion. Deficit with China accounted $18 billion and oil and energy related deficit was $22 billion. At the current pace of monthly deficit, the U.S. is set to record $710 billion deficit for the year 2005, highest ever. How long will it be before this catches up with the U.S. dollar? Shares of Apple Computer rose 10%.
Elena
13 Oct, 2005
New York City
A number of economic reports were released today. The Energy Department said that oil inventories rose by 1 million barrels in the week ending Oct 7, climbing to 306.4 million barrels. The Labor Department reported that September import prices index jumped 2.3%, the highest in 15 years. Export prices rose 0.1% after falling 0,1% in August. August trade deficit was recorded at $59 billion. Initial jobless for the previous week were reported at 389,000.
Elena
13 Oct, 2005
New York City
Oil inventories rose by 1 million barrels in the week ending Oct 7, climbing to 306.4 million barrels. September import prices index jumped 2.3%, the highest in 15 years. Export prices rose 0.1% after falling 0,1% in August. McDonald's Corp. released Q3 earnings outlook of 58 cents a share, exceeding expectations of 54 cents. The Web online engine Google and the cable company Comcast are to buy a stake in Warner Time's America Online for $5 billion.
Elena
13 Oct, 2005
New York City
Asian markets finished broadly in the red, led by South Korea's Kospi, down 1.9% on tech stocks. The Nikkei lost 0.1%. European stocks traded lower at mid-day on interest rate and inflation concerns.McDonald's Corp. released Q3 earnings outlook of 58 cents a share, exceeding expectations of 54 cents. The Web online engine Google and the cable company Comcast are to buy a stake in Warner Time's America Online for $5 billion. September import prices index jumped 2.3%, the highest in 15 years.
123jump.com Staff
12 Oct, 2005
New York City
For the third day in a row, falling tech stocks dragged broader averages down. Investors, who had bid up stocks of Apple and Advanced Micro before the earnings release, had to settle for a loss of 4.5% and 12%respectively. Apple released video iPod after the close and announced a deal with ABC Televison. Refco stocks drop another 22%.
