Elena
10 Apr, 2007
New York City
Wall Street opened near the flat line Tuesday, with investors awaiting reports on how the companies performed during the first quarter. The earnings season kicks off with aluminum producer Alcoa, which is expected to report profit of 75 cents a share. Hard-disk maker Seagate Technology fell 8% after warning that Q3 revenue will come in below an early forecast of $2.9 billion to $3 billion. Dow Chemical fell 2.3% after it announced it is not interested in the leveraged buyout.
Ivaylo
10 Apr, 2007
New York City
London stocks traded higher in midday trade on Tuesday, fueled by strength in the mining sector, as traders took in the latest bid developments after the holiday weekend. Miners BHP Billiton and Rio Tinto canceled losses at J Sainsbury. The FTSE 100 made gains of 0.4%, taking it 25 points higher to 6,422.3, making it up for a neutral start after the four-day weekend.
Elena
10 Apr, 2007
New York City
U.S. stock futures pointed to a flat opening on Tuesday, reflecting cautiousness ahead of the Q1 earnings season and broker upgrades for tech companies Oracle, Applied Materials and Advanced Micro Devices. Aluminum producer Alcoa will be in focus before it reveals its Q1 results, due after the close. Dow Chemical, which surged Monday on speculations that it is the target of a $50 billion leveraged buyout, is likely to decline after it said it is not interested in such offer.
Ivaylo
10 Apr, 2007
New York City
Asian markets closed mixed with profit-taking hurting Japanese benchmark index, while Hong Kong ended higher as investors returned from a long holiday. In Japan, carmakers ended lower, while in HK, the large-caps HSBC Holdings and Sinopec led the market higher. In China, the market hit a record high close for a seventh straight session, while profit-taking in shipbuilders put an end to the advance of the stock market in South Korea.
Elena
10 Apr, 2007
New York City
The brokerage also raised the stock''s 12-month price target to $22 from $20 due to a much strengthened product set across database, applications, middleware. Advanced Micro Devices was upgraded to buy from neutral at UBS, citing a belief that the chipmaker is poised for a rebound in the second half of 2007, as AMD improves its mix and launches Barcelona for servers.
Ivaylo
10 Apr, 2007
New York City
The benchmark index opened with a positive bias but soon plunged into negative territory on selling pressure. Fresh buying interest in HDFC and capital goods sector helped the Sensex recoup earlier losses. Trade was highly volatile but the market-breadth remained positive. HDFC led the gainers, while Satyam led the decliners. Arcelor Mittal has reportedly made an offer for the stake of Mitsui Corp in Sesa Goa.
Ivaylo
10 Apr, 2007
New York City
European markets were higher on Tuesday, as merger activity and weaker oil prices pulled the markets out of their post-Easter subdued state. Deal news helped lift the shares of DaimlerChrylser and Puma while oil companies weighed on the wider market. By mid morning, Frankfurt Xetra Dax added 0.5%. In Paris, the CAC 40 was 0.1% higher and London FTSE 100 was 0.2% higher.
Ivaylo
10 Apr, 2007
New York City
Gold futures declined on profit-taking Monday, weighed down by a late-day slide in crude oil prices, as well as the strength of the dollar, as trading resumed after a three-day holiday weekend. Silver, though, advanced helped by a sharp rise in copper prices. Gold was slightly higher for much of the day, which was linked to light speculative buying in thin conditions. Gold then faltered during the last two hours of the session.
123jump.com Staff
09 Apr, 2007
New York City
U.S. stocks advanced on speculation that private equity buyout will continue to drive stocks higher. The Labor Department said 180,000 new jobs were created in March and the jobless rate fell to 4.4%. Railroad stocks rose on Berkshire stake news. Burlington Northern rose 7%, Union Pacific added 4.9%, Norfolk Southern gained 4%, and CSX moved 2% higher. Vonage Holdings declined 9.5%. American Home Mortgage Investment plunged 16%, while AMD rose 4.5%. Oil and gold fell.
123jump.com Staff
09 Apr, 2007
New York City
U.S. stocks were mixed as uneasiness about interest rates and first-quarter earnings curbed the market optimism about robust job growth and continued takeover activity. The Labor Department report showed non-farm payrolls rose by 180,000 in March, above forecasts of 135,000. The unemployment rate fell to 4.4%. Accredit Home Lenders Holding Co. fell 4.4%. H&E Equipment rose on upgrade, Mirant advanaced on possible company sale and NetLogic gained on revised revenue outlook.
Elena
09 Apr, 2007
New York City
U.S. stocks traded mixed on Monday morning, reflecting cautiousness ahead of Q1 earnings season and modest support provided by deal news and a delayed reaction to Friday''s robust jobs report. Tech stocks traded mixed. Advanced Micro Devices rose 4% although it lowered its Q1 revenue forecast. Semiconductor equipment makers Applied Materials and KLA Tencor Corp. declined 0.2% and 1.3%, respectively.
Elena
09 Apr, 2007
New York City
U.S. stock markets saw a positive start of Monday trading session, lifted by deal news, as well as easing economic growth concerns on the back of robust jobs report. Dow Chemical was sent 6.6% higher by a report, saying that the company is the target of $50 billion leveraged buyout. In other deal news, Dow component Citigroup lost 0.1% after it agreed to buy Taiwan''s Bank of Overseas Chinese for about $426 million in cash.
Elena
09 Apr, 2007
New York City
Wall Street looked poised for higher reopening after the three-day Easter holiday. U.S. stock futures rallied, boosted by stronger-than-expected jobs data in March and a report that Dow Chemical Co. is the target of a $50 billion buyout offer. The Labor Department said Friday that nonfarm payrolls expanded by 180,000 in March, while the unemployment rate slipped to 4.4% from 4.5% in February. In corporate news, Citigroup said it was buying Taiwan''s Bank of Overseas Chinese for $426 million.
Elena
09 Apr, 2007
New York City
U.S. stock markets failed to sustain the initial strength and turned to lackluster trading. Despite the pullback by the major averages, the transportation sector moved notably higher, led by Burlington Northern. The railroad company jumped 7.1% on the heels of news that Warren Buffett''s Berkshire Hathaway became the biggest shareholder, as he bought a 10.9% stake in the railroad company.
Ivaylo
09 Apr, 2007
New York City
The benchmark index opened with a positive bias mirroring the robust global markets. Sentiment was also boosted by renewed interest at higher levels as well as by short covering ahead of the earnings season. Steel, IT, cement, banking, telecom and auto stocks ended higher Tata Steel and ITC led the advancers, while Bajaj Auto was the only declining large-cap stock. Prime Minister said on Monday that projects such as the gas cracker will bring development opportunities for the state.
