Elena
12 Dec, 2006
New York City
Goldman Sachs Group said Q4 profit doubled on record merger activity and robust stock market trading. The company reported a profit of $6.59 per share, compared with $3.35 per share a year ago, easily beating estimates of $6.04. Revenue soared to $9.41 billion. Best Buy Co. said Q3 profit rose 9% to 31 cents a share, up from 28 cents a year ago, but results missed expectations as the consumer electronics retailer made greater use of promotions to move merchandise. Its shares fell 5%.
Elena
12 Dec, 2006
New York City
Nasdaq Stock Market made a 2.7 billion-pound ($5.3 billion) hostile bid for the London Stock Exchange after failed attempts to persuade the LSE
Ivaylo
12 Dec, 2006
New York City
Large-caps such as Sony, Toyota and Canon led the rally as Japanese shares gained Tuesday, on the recent bouncing back of the dollar versus the yen which helped exporters, though regional markets were mixed after a competition probe into the LCD television making industry. Hang Seng in Hong Kong and Kospi of Seoul slipped both. The Fed meeting impacted Hong Kong investors negatively, causing stocks to fall slightly.
Ivaylo
12 Dec, 2006
New York City
Retailers hogged the limelight as hopes of strong Christmas sales powered the sector. Investors are cautious, though, ahead of a Federal Reserve decision on interest rates later in the day, with French drinks group Remy Cointreau and Belgian miner Umicore also among the gainers. By mid morning, the FTSE 100 in London was down 0.2%, while Frankfurt Xetra Dax gained 0.1%, and the CAC 40 in Paris was flat.
Ivaylo
12 Dec, 2006
New York City
During the session the gold contract slipped to a three-week low, then rebounded as the dollar declined against the euro in the wake of reported comments from former Ex-Federal Reserve chief Alan Greenspan, quoted as stating that there were a few years of dollar weakness. Investors are anticipating the Federal Reserve not to hike the benchmark interest rate which now stands at 5.25 %.
123jump.com Staff
11 Dec, 2006
New York City
Merger talks, airline industry consolidation rumors and rising home builder stocks drove market averages higher at close. The Sabre Group is reported to be in talks with private equity groups to sell the company for more than $4 billion. Biomet is likely takeover target from UK based comany. Tata and CSN are in bidding war for Corus. United Airlines parent UAL Corp is rumored to announce merger plan at analyst meeting. Global SantaFe and JP morgan rose on analyst comments.
Elena
11 Dec, 2006
New York City
European stocks posted gains Monday, boosted by takeover bids for Corus Group and Egg, the Internet banking division of insurer Prudential. Steelmakers advanced, with shares of Germany''s ThyssenKrupp up 1.5% and Spain''s Acerinox, up 2.5%. The French CAC 40 climbed 0.8%, followed by the German DAX 30, up 0.78%, and London FTSE 100, up 0.1%.
Elena
11 Dec, 2006
New York City
Stock markets were lackluster Monday, as several takeover deals generated positive mood, but cautiousness ahead of interest-rate decision Tuesday and weaker oil limited the gains. The biggest drag on the Nasdaq was drugmaker Nuvelo which tumbled nearly 82% after the company and German drugmaker Bayer said a Phase 3 clinical trial of a blood clot dissolver failed to meet its main goal.
Elena
11 Dec, 2006
New York City
In a surprising move in after-hours trade Friday, RBI raised by 0.5% in cash reserve ratio in order to get a tighter grip on uncontrolled credit growth, leading to inflationary pressures. The hike had a negative impact on the benchmark index and on the banking sector. Furthermore, foreign funds continued today for a second session in a row to be net sellers, contributing to the fall in Sensex. ICICI Bank and State Bank of India led the decliners, Satyam and SpiceJet were among the main gainers.
Elena
11 Dec, 2006
New York City
U.S. stock markets opened little changed Monday, with investors cautious ahead of Tuesday
Ivaylo
11 Dec, 2001
New York City
Profit taking and a weak oil sector erased gains at Corus and bid excitement elsewhere, leaving London little changed despite signs that Wall Street will start wih an early lead. Oil large-caps dragged the leading index from early highs as crude prices slipped. The energy sector was in the doldrums. BP, Cairn Energy, Royal Dutch Shell and BG are all in the red, while the tobacco sector was also lower on profit taking. In afternoon trade, the FTSE 100 was little changed, at 6,153.
Elena
11 Dec, 2006
New York City
U.S. stock market futures rose, boosted by a series of merger deals and deal speculation. Citigroup reportedly launched a bid for Prudential plc''s Egg Internet banking arm, but Prudential said it''s not interested in selling the division. Smith & Nephew is expected to bid $12 billion for U.S. rival Biomet by the Tuesday auction deadline. Biomet shares rose 4.8% Travel-booking company Sabre Holdings rose 11% in pre-market trading on deal speculation.
Elena
11 Dec, 2006
New York City
The bid topped an offer that Corus had very recently agreed with Indian rival Tata Group. The offer came only hours after Corus had agreed on new terms with India''s Tata Steel on a 500-pence-a-share bid, which was 10% above Tata''s initial offer.
Ivaylo
11 Dec, 2006
New York City
Stronger exporter stocks powered a rally in Asian stocks on Monday as Japanese markets gained on a falling yen that gave a boost to export-oriented companies such as Toyota and Nissan. It was an across-the-region rally, as only Taiwan markets bucked the trend and declined among the major markets. In Hong Kong, large-caps Hutchison Whampoa and China Mobile led the gainers while South Korean stock markets ended flat despite the upbeat banking sector.
Ivaylo
11 Dec, 2006
New York City
European stocks were higher on Monday as gains, powered by takeover speculation, countered dropping oil producers as crude prices sank. On Monday, Continental was among the top advancers after General Capital Group, which tried to buy the German tyremaker earlier in the year, announced it would not rule out another takeover attempt. By mid morning, London FTSE 100 climbed 0.4%, Frankfurt Xetra Dax gained 0.5%, and the CAC 40 was 0.7% higher.
