Elena
10 Jan, 2007
New York City
U.S. stock market averages traded down, pressured by further weakness in the oil and gas sector after a petroleum report showed larger-than-expected increases in U.S. gasoline and distillate inventories. ConocoPhillips dropped 2.5% and Chevron Corp. slipped 1.7%. However, tech stocks rose for a second day in a row, boosted by the introduction of Apple Inc.''s new media-playing cell phone. Apple shares rose 4.6%.
Elena
10 Jan, 2007
New York City
A sell-off in large-caps like ONGC, HDFC, ICICI Bank and Reliance Communications weighed on the benchmark index Wednesday in a broad decline. Weakness in Asian markets and caution ahead of tomorrow
Elena
10 Jan, 2007
New York City
Wall Street started trading in the negative territory on Wednesday, reflecting weak oil prices and a profit warning from a major oil company. Chevron fell 1.6% after it warned that its Q4 profit would be hurt by falling commodity prices. Alcoa helped boost the Dow, rising 4% after it posted better-than-expected earnings. The aluminum producer posted 60% profit jump in the fourth quarter.
Ivaylo
10 Jan, 2007
New York City
Financial stocks plunged following a strong showing in the previous session on comment from Lehman Brothers, stating that it expects the sector to underperform its European peers. Energy stocks were also lower, with Scottish & Southern Energy leading the decliners in the sector. Supermarket William Morrison is the best performer on the market as it reported upbeat same-store sales. By mid-afternoon, the FTSE 100 was down 32.8 points, or 0.45%, at 6.168.
Elena
10 Jan, 2007
New York City
U.S. stock futures pointed to a lower market opening Wednesday due to a drop in Latin American shares and steep declines in oil prices. According to a Commerce Department report, the U.S. trade deficit fell unexpectedly by 1.0% in November to $58.2 billion, marking the third straight decline in the deficit and its lowest level since July 2005. Alcoa rose 4.5% in pre-open after reporting stronger-than-expected Q4 results.
Elena
10 Jan, 2007
New York City
The improved bid followed a rejection of the first bid valued at $8.4 billion. It amounts to $5 billion in cash and 89.5 million shares of US Airways stock, higher than the original offer including 78.5 million shares of US Airways stock and $4 billion in cash.
123jump.com Staff
09 Jan, 2007
New York City
News of job cuts at Sprint Nextel and earnings revision from other companies kept market averages under check. Oil dropped to an eight months low failed to excite traders. Apple released new mobile phone with features of iPod. Venezuela plans to nationalize largest TV network and electric utility. The news dragged the local market index down 19%. Asian markets rebounded after a two-day drop.
Elena
09 Jan, 2007
New York City
European stocks closed mixed, reflecting losses for major oil companies and some positive broker upgrades across several sectors. Heavyweight BP declined 3.1%, Total''s shares sank 1.3%, Statoil declined 3.1% and Norsk Hydro lost 1.2%. French CAC 40 rose 0.3%, the German DAX added 0.1%, while London FTSE 100 inched up 0.03%.
Elena
09 Jan, 2007
New York City
U.S. market averages turned mixed in late morning trade, reflecting a steep decline in crude oil prices and optimism about the technology sector. Tech stocks were among the biggest drivers in the session with news coming from the annual Macworld Expo in San Francisco and Consumer Electronics Show in Las Vegas. Apple Computer rose 1.9% on expectations the company will announce its first mobile phones.
Elena
09 Jan, 2007
New York City
The new issue, Cairn India, priced below its expected price range and fell further on the first day in trading. IT stocks came under pressure ahead of the start of third quarter earnings season. Investors are worried that rupee appreciation may affect profits. Gujarat Ambuja led the advancers with TCS and ICICI Bank, while Satyam and Reliance Communications led the decliners. The government may cut petrol and diesel retail prices if the decline of oil prices continues.
Elena
09 Jan, 2007
New York City
U.S. stocks opened slightly higher Tuesday as a continuous slide in crude oil prices and gains for the tech sector helped offset the negative sentiment generated by Sprint Nextel Corp.''s warning that its Q4 results will miss expectations. A barrel of light sweet crude fell to $54 a barrel. Shares of both Apple and AT&T rose 1% in early trading.
Ivaylo
09 Jan, 2007
New York City
Banks advanced following Credit Suisse positive comment on the sector, as the Swiss bank believes the threat from regulation, interest rates and even unsecured asset quality has diminished. A rebound in metal prices supported mining stocks as copper advanced 1% after a three-day decline. Upbeat broker comment gave also satellite TV group BSkyB a boost. BP plunged as it reported production of oil and gas fell in Q4 of 2006. By late morning, the FTSE 100 was up 0.4%.
Elena
09 Jan, 2007
New York City
U.S. stock market futures advanced, indicating a higher opening of Tuesday trading session ahead of the new earnings season and new product announcements from the two biggest technology shows of the year. Apple Computer rose 1.2% in pre-market trading as the computer maker is expected to showcase new products at its annual Macworld expo. Motorola said it is developing set-top boxes that can send home television to phones.
Elena
09 Jan, 2007
New York City
In a financial update released after the close on Monday, Sprint Nextel said that its cell phone business suffered a net loss of 300,000 monthly subscribers in Q4 and that the company will reduce workforce by 5,000 jobs to just below 60,000 positions. Most of the job cuts are expected in Q1 of the new fiscal year.
Ivaylo
09 Jan, 2007
New York City
Most Asian markets ended higher Tuesday, led by China which hit a record closing high in the wake of stronger-than-anticipated debut of China Life on the Shanghai Stock Exchange. Japanese stocks advanced on bargain-hunting on domestic demand-sensitive issues such as banks and insurance companies, while in HK, sustained profit-taking in Chinese financial companies pushed the market below the psychologically important 20,000 level. South Korea and Australia also closed higher.
