Elena
27 Sep, 2005
New York City
The Conference Board released a report, showing that consumer confidence in September dropped to 86.6 from 105.5 in August, although economists had expected a more modest decline of 98.0. The Department of Commerce released data, indicating that new home sales fell 9.9% to a seasonally adjusted annual rate of 1.237 million units in August from the revised July rate of 1.373 million units. Economists had expected sales to fall to a 1.363 million unit rate.
Elena
27 Sep, 2005
New York City
Pepsi Bottling Group posted 3Q 7% earnings rise of 82 cents a share vs. 73 cents a year ago on strong sales. Excluding special gains, the quarterly results met expectations of 78 cents a share on sales of $3.14 billion. Lennar, homebuilder, reported 3Q 50% income growth of $2.06 a share vs. $1.36 a year ago, beating estimates. The company raised its 2005 profit outlook to $8.10 a share. New home sales in August were 1,237,000, down 9.9% from July, but up 6.2% from August 2004.
Elena
27 Sep, 2005
New York City
Asian markets closed mixed with South Korea's Kospi and Australia's All Ordinaries at all-time highs. The Nikkei lost 0.6% after Monday's four-year peak. European stocks trade mixed, pressured by rising oil. The consumer spending report due out later in the day is expected to show that confidence index dropped to 95 from 105.6 in August on soaring gasoline prices.
123jump.com Staff
26 Sep, 2005
New York City
It seems like there is always bull market in the oil pit. Oil, gasoline, and heating oil advanced by 2%, 4%, and 5% for the day. Despite the receding fears of Hurricane Rita related damage to refineries in Texas, traders managed to stage a rally in the energy market. Bond yields on 10-year rose 4 basis points to $4.29% at close.
Elena
26 Sep, 2005
New York City
The National Association of Realtors released a report, which showed an unexpected increase of existing home sales by 2% to a seasonally adjusted annual rate of 7.29 million units in August from a revised 7.15 million unit rate in July. The increase surprised economists, who had expected sales to fall to a 7.11 million unit rate from the 7.16 million unit rate originally reported for July.
Elena
26 Sep, 2005
New York City
The German DAX 30 advanced 1.9% at mid-day. Analogic Corporation, health and security systems maker, posted 4Q earnings rise of 31 cents a share vs. 29 cents a year ago, despite a revenue decline. Walgreen, drugstore operator, posted 4Q earnings, missing estimates by 2 cents. The NAR released a report, showing that existing home sales rose 2% to a seasonally adjusted annual rate of 7.29 million units in August from a revised 7.15 million unit rate in July.
Elena
26 Sep, 2005
New York City
Asian-Pacific markets made solid gains on falling oil prices with the Nikkei up 1.8% and South Korea's Kospi climbing 2.6%. European stocks also gained at mid-day, led by the German DAX 30, rising 1.9%. Analogic Corporation, health and security systems maker, posted 4Q earnings rise of 31 cents a share vs. 29 cents a year ago, despite a revenue decline. Walgreen, drugstore operator, posted 4Q earnings,missing estimates by 2 cents.
123jump.com Staff
25 Sep, 2005
New York City
Refineries in Texas have been spared the feared heavy damage but it may take weeks or even a month to bring oil production, refining, and pipeline infrastructure back to normal. Eight ports in the region transporting more than 55% of farm exports may take couple weeks to restart. Lack of electric and man power may slow recovery.
Yordanka
24 Sep, 2005
New York City
The traditional summer IPO slowdown finally ends at the end of September. Ikanos managed a strong debut and traded 10% above offer price on Thursday. Global Cash Access jumps 7% and North Pointe Holdings closes flat.
123jump.com Staff
23 Sep, 2005
New York City
Refinery storm Rita, at the end of the week, has managed to shut down 99% of oil and 72% of gas production in the Gulf of Mexico region. Total loss of production for both the hurricanes is likely to exceed 8% of annual output for oil and natural gas. Regardless of the strength of Hurricane Rita, gasoline prices at pump are likely to rise in the next two weeks.
Elena
23 Sep, 2005
New York City
European stocks closed up led by the German DAX 30 and CAC 40 both up 0.7%. Oracles, software supplier, posted 1Q profit of 10 cents a share on 25% higher revenue, but released disappointing 2Q revenue forecast. Alcoa, aluminum maker, projected 3Q earnings 39% below estimates. JLG Industries, equipment maker, posted doubled 4Q earnings of 69 cents a share on record-high revenue, but projected 2006 profit below expectations. Mexico's central bank reduced its benchmark rate to 9.25% from 9.50%.
Elena
23 Sep, 2005
New York City
European stocks gained ground on oil prices drop, led by the German DAX 30 up 0.4%. Oracles, software supplier, posted 1Q profit of 10 cents a share on 25% higher revenue, but released disappointing 2Q revenue forecast. Alcoa, aluminum maker, projected 3Q earnings 39% below estimates. JLG Industries, equipment maker, posted doubled 4Q earnings of 69 cents a share on record-high revenue, but projected 2006 profit below expectations.
Elena
23 Sep, 2005
New York City
Asian-Pacific markets closed broadly lower on profit-taking with South Korea's Kospi down 2% and Japan's Nikkei closed for a national holiday. European stocks gained ground on oil prices drop, led by the German DAX 30 up 0.4%. Oracles, software supplier, posted 1Q profit of 10 cents a share on 25% higher revenue, but released disappointing 2Q revenue forecast. Alcoa, aluminum maker, posted 3Q earnings 39% below estimates.
123jump.com Staff
22 Sep, 2005
New York City
Hurricane Rita remains in focus. Rita, one of the strongest hurricanes to hit the Gulf of Mexico region, could cause severe damage to more than 25% of nation's oil production and refining facilities. The 23% of domestic refining capacity is shut down with the unknow damage to the oil platforms in the region. KB Home earnings powered the home builders rally.
Elena
22 Sep, 2005
New York City
About 18 Texan oil refineries are threatened by Hurricane Rita, with a combined production capacity of about 4 million bpd, the U.S. Energy Information Administration said. The Labor Dept. released initial jobless claims in the week ended Sept. 17, showing that claims rose to 432,000 from the previous week's revised figure of 424,000. Economists had expected claims to rise to 450,000.
