Elena
12 Oct, 2005
New York City
The tech sector is a notable decliner in early going on Apple's disappointing outlook and Intel's downgrade. Various Fed officials are to speak during the day and market is nervous. Alan Greenspan said that the economy was weathering the climb in energy prices.The Fed Reserve Chairman did not comment specifically on interest rates increses, but his comments suggested that the strong U.S. economy could handle them.
Elena
12 Oct, 2005
New York City
The tech sector is a notable decliner in early going on Apple's disappointing outlook and Intel's downgrade. Various Fed officials are to speak during the day and market is nervous. Alan Greenspan said that the economy was weathering the climb in energy prices.
Elena
12 Oct, 2005
New York City
Asian-Pacific markets closed broadly down with the Nikkei down 0.7% on consumer confidence drop and unchanged monetary policy. The markets in Hong Kong and South Korea fell 2.2%. European stocks lost ground at mid-day, led by the DAX 30, down 0.6%. Harley-Davidson reported Q3 income rise of 96 cents a share vs. 77 cents a year ago, beating expectations of 90 cents a share.
123jump.com Staff
11 Oct, 2005
New York City
FOMC minutes revelaed little that surprised the market. The minutes noted that the aggregate demand is strengthening and rising energy prices are contributing to inflation pressures. Infosys quarterly earnings rose 36% on the strength in European outsourcing contracts. Gannett earnings dropped 4% on weakness in broadcasting advertising revenue.
Elena
11 Oct, 2005
New York City
Gannett, media company, posted Q3 earnings decline of $1.13 a share vs. $1.16 a year ago, meeting analysts
Elena
11 Oct, 2005
New York City
U.S. market averages opened in the positive on the back of strong Q3 earnings reports.Alcoa reported Q3 better-than-expected earnings of 33 cents a share, beating estimates of 29 cents. Genentech, biotechnological company, announced Q3 net earnings of 33 cents a share, up from 21 cents a share last year on operating revenue growth, topping analyst estimate of 30 cents.
Elena
11 Oct, 2005
New York City
Asian markets closed mostly higher with the Nikkei rising 2.5% after the long weekend on strong machinery and bank stocks. European stocks were also higher at mid-day , led by the German DAX 30, up 0.7%. Alcoa reported Q3 better-than-expected earnings of 33 cents a share, beating estimates of 29 cents. Genentech, biotechnological company, announced Q3 net earnings of 33 cents a share, up from 21 cents a share last year on operating revenue growth, topping analyst estimate of 30 cents.
123jump.com Staff
10 Oct, 2005
New York City
After the bell, Alcoa released third quarter earnings of 33 cents compared to 34 cents a year ago and beating lowered estimates of 29 cents. Market during the day rose and then fell as inflation concerns took over market sentiments. Delphi bankruptcy, lowered earnings outlook from Northrop and revenue outlook from chip maker Xilinx hurt the trading sentiment.
Elena
10 Oct, 2005
New York City
Insurance provider Lincoln National Corp. agreed to buy Jefferson-Pilot Corp. for $7.5 billion in cash and stock in a deal that will create one of the nation's biggest public life-insurance companies. General Motors fell 4.2% after auto parts maker Delphi was pressed to file under Chapter 11 of federal bankruptcy on Saturday.
Elena
10 Oct, 2005
New York City
Insurance provider Lincoln National Corp. agreed to buy Jefferson-Pilot Corp. for $7.5 billion in cash and stock in a deal that will create one of the nation's biggest public life-insurance companies. General Motors fell 4.2% after auto parts maker Delphi was pressed to file under Chapter 11 of federal bankruptcy law on Saturday.
Elena
10 Oct, 2005
New York City
Asian-Pacific markets finished mixed with the Nikkei closed for a national holiday, while South Korea's Kospi climbed 2%. European stocks advanced on telecom equipment shares, led by the German DAX 30, up 0.9%. The earnings season is expected to begin with the world's biggest aluminum maker Alcoa, reporting after the bell. The company has lowered its Q3 earnings forecast to the range of 27 to 31 cents a share, blaming hurricanes and energy costs.
123jump.com Staff
09 Oct, 2005
New York City
It seems that Fed is active these days in convincing market that it is ready to fight inflation. It will be more comvincing if Fed shows a similar dispay of conviction and resolve telling the U.S. Congress to observe fiscal discipline. Fed's bark in the recent weeks may be directed at the wrong tree. Under the watchful eyes of Fed when the interst rates have touched 41-year low of 1%, federal budget surplus of the nineties has turned to a growing deficit.
123jump.com Staff
07 Oct, 2005
New York City
Friday's job report left market in a state of wanting more data on employment situation. Retailers, miners, energy and utilities stocks charged ahead for the day. Research in Motion stock faces turbulence on losing Court of Appeals motion. For the week the Dow down 2.6%, the S&P down 2.7% and the Nasdaq down 2.9%. Alcoa, Genentech an Infosys to report on Monday.
Elena
07 Oct, 2005
New York City
Alcoa Inc., the world's biggest aluminum maker, will start the new earnings season on Monday after closing the bell. The company lowered its Q3 earnings forecast to the range of 27 to 31 cents a share, blaming hurricanes and energy costs. The stock fell 23% Thursday. Nonfarm payroll data release showed that 35,000 jobs were lost in September following an upwardly revised increase of 211,000 in August.
Elena
07 Oct, 2005
New York City
Nonfarm payroll data release showed that 35,000 jobs were lost in September following an upwardly revised increase of 211,000 in August. Wholesale inventories in August were $354.5 billion, up 0.5% from July and up 7.7% from a year ago. Sales were $302.5 billion, up 1.3% from July and up 7.6% from August 2004.
