Elena
24 Apr, 2007
New York City
Texas Instruments Inc. announced after the closing bell on Monday that its Q1 profit dropped 12% from a year ago, due to the sale of a business unit and weaker demand for its chips. The company said it earned 35 cents per share, down from 36 cents per share last year. Revenue fell to $3.19 billion from $3.33 billion a year ago. However, Texas Instruments issued a robust Q2 forecast and said its business is improving after two straight quarters of declining sales.
Ivaylo
24 Apr, 2007
New York City
The benchmark index opened with a negative bias and dipped in morning deals on weak global markets. But after the Reserve Bank of India announced it will keep keep its policy rates unchanged this year, the market rallied. Banks, auto stocks led the rally with SBI the best performer, while tech stocks ended lower on the stronger rupee against the dollar. RBI left its benchmark overnight lending rate unchanged to support slowing economic growth.
Ivaylo
24 Apr, 2007
New York City
European markets slumped on Tuesday, led by Spain Ibex index, as mounting fears over the financial stability of real estate company Astroc led to sharp falls in the property and construction sectors. Also, Alcatel-Lucent posted an operating loss and Yell Group said U.S. revenue growth will slow. In Paris, the CAC 40 fell 0.6%, Frankfurt Xetra Dax lost 0.9% and London FTSE 100 shed 0.7%.
Ivaylo
24 Apr, 2007
New York City
Arabica coffee futures slipped to nine-month lows on the New York Board of Trade Monday, in spite of a forecast of a small Brazilian crop. Raw sugar in foreign ports slid to 21-month lows as funds sold, while gold and silver futures finished mixed, with neither making a big move since the dollar was steady. Copper bounced from early weakness to finish with a modest gain.
123jump.com Staff
23 Apr, 2007
New York City
Global deal making reached a new high with more than $125 billion of deals announced. U.S. stocks fell after oil prices climbed and concern mounted that home loan defaults will accelerate, overshadowing the biggest day for takeovers since 2000. Earnings news continued to roll in. Hasbro reported first-quarter profit amid strong performance across the toy product lines,stock rose 8.4%. Kimberly-Clark reported a 64% increase in quarterly profit and gained 7.8%.
123jump.com Staff
23 Apr, 2007
New York City
Stocks retreated as rising oil prices chilled investor enthusiasm for strong earnings reports and new takeover activity. Though the U.S. economy has been slowing and the dollar has been weakening, the takeover activity remains robust, giving investors reason to believe U.S. companies will keep finding ways to pull in profits. Whole Foods jumps to two-month high and Bausch & Lomb surges 8% on buyout rumors.
Elena
23 Apr, 2007
New York City
European stock markets closed in the negative on Monday, despite positive news from Swiss giants Novartis and Nestle. The banking sector weighed as investors digested a 67-billion-euro bid launched by Barclays to buy ABN Amro. Shares of ABN Amro turned lower to close down 1.4% after a potential bidding consortium cancelled talks they were due to have with the Dutch bank on Monday. Barclays shares lost 2.3%. The French CAC-40 fell 0.4%, the U.K. FTSE 100 lost 0.1%, the German DAX 30 lost 0.1%.
Elena
23 Apr, 2007
New York City
U.S. stocks traded in a lackluster fashion, with the Dow a little off the 13,000 mark weighed down by Pfizer. The company lost 1.4% following a brokerage downgrade on its stock. Hasbro, the No. 2 U.S. toymaker, climbed 7% after it reported quarterly profit well above analyst estimates. Biotech stocks were the most notable gainers, driven higher by surging MediImmune on the back of a $15.6 billion buyout offer from AstraZeneca.
Elena
23 Apr, 2007
New York City
Merger deals in the bank sector were the leading market drivers on Monday. After Barclays reached an agreement to acquire ABN Amro in a deal worth $91 billion, Bank of America said Monday it agreed to buy LaSalle Bank Corp. for $21 billion. Fortis, Royal Bank of Scotland and Santander said they cancelled talks with ABN Amro that were due to be held on Monday.
Elena
23 Apr, 2007
New York City
Wall Street posted modest gains at opening on Monday, reflecting some profit taking after last-week strong gains, as well as news of two mega mergers, including the UK''s Barclays which agreed to buy Dutch bank ABN Amro for $91 billion in the biggest bank deal in history. In another deal, drugmaker AstraZeneca agreed to pay $15.6 billion for U.S. biotech company MedImmune. AstraZeneca shares lost 4.3%, while MedImmune surged 17.5%.
Ivaylo
23 Apr, 2007
New York City
London stocks were virtually unchanged in mid-day trade on Monday as banking stocks fell on concern that Barclays record offer for ABN Amro could spark a costly bidding war for the Dutch group. AstraZeneca has agreed to buy US biotech MedImmune in an all-cash deal which is expected to bolster the drug pipeline and portfolio of the company. The FTSE 100 was unable to hold opening gains, falling 0.1% with Barclays leading the decliners.
Ivaylo
23 Apr, 2007
New York City
Asian markets ended mostly higher on Monday, with Japan finishing slightly higher and Hong Kong closing a bit lower, while China soared on expectations that stock-index futures will be launched soon. Tokyo trading was relatively quiet as pessimism about corporate-earnings expectations for this fiscal year by Japanese companies countered earlier gains. Steel producer Posco led South Korean shares higher.
Elena
23 Apr, 2007
New York City
U.S. stock futures pointed to a robust opening, with the Dow expected to rise above the 13,000 mark for the first time Monday. The positive pre-market sentiment was generated by merger activity, as well as optimism about corporate profits. British bank Barclays PLC agreed to acquire Dutch bank ABN Amro for $91.16 billion in what would be the world''s biggest bank deal. In another deal, drugmaker AstraZeneca said it will buy U.S. drug maker MedImmune for $15.6 billion.
Ivaylo
23 Apr, 2007
New York City
The benchmark index opened with a postive bias and surged past the 14,000 level but momentum was lost in late session on profit-taking and the Sensex ended with a modest gain. The market-breadth was negative. Tata Steel led the advancers, while ITC was the worst performing stock. Arcelor Mittal has received approval from the US and Mexican competition authorities to acquire Sicartsa.
Ivaylo
23 Apr, 2007
New York City
Barclays agreed to buy ABN Amro in the largest-ever banking deal sending European markets to a six-and-a-half-year high Monday, supported also by favorable updates from Swiss company Novartis and Nestle. Novartis led drugmakers higher after posting first-quarter profit that topped expectaions. The German DAX Xetra 30 index rose 0.1%, the U.K. FTSE 100 index rose 0.1% and the French CAC-40 index increased 0.2% a morning after the first round of the French presidential election.
