Ivaylo
23 Oct, 2006
New York City
Japanese shares hit a five-month high buoyed by expectations of upward earnings-guidance revisions by exporters amid a softening yen against the dollar. In Hong Kong, the Hang Seng Index ended flat, with traders awaiting earnings reports and economic data to be released later this week. Good earnings results, strong construction sector and firm global market could not outweigh N.Korea concerns in Seoul and the market finished flat too.
Ivaylo
23 Oct, 2006
New York City
Crude oil prices shed more than 1% on commodities exchanges, despite comments that Saudi Arabia was ready to join other OPEC members in production cuts. This news weakened the energy sector but was good news however, for European airlines and other heavy users of petroleum products. The FTSE 100 in London shed 0.1%, while Frankfurt Xetra Dax remained marginally higher at 6,207.22 and the CAC 40 in Paris fell 0.1%.
Ivaylo
23 Oct, 2006
New York City
The market did not hold at $600 on Friday and that reinforced the overdone view. It advanced on not much, and declined on not much, and that, combined with weak oil prices, left gold at the lower end of a recent rang. Once the $590 level was broken then it would head right to $580. It was a sell-the-rally environment. The market looks like it has headed downward, now that strong demand in September and part of October out of India and the Middle East has sagged.
123jump.com Staff
20 Oct, 2006
New York City
Industrial stocks traded lower after Caterpillar released earnings of 95 cents. The stock dropped 13%. SanDisk dropped 20% after it warned that fourth quarter earnings will drop between 15% and 20% on flash memory price slow down. Coca Cola rose 4% on earnings and broker recommendation. 3M reported earnings of $1.18 vs. $1.08 a year ago. Google jumped 7% on higher than expected earnings.
Elena
20 Oct, 2006
New York City
European stock markets closed mostly higher, with retreating oil prices helping to erase some of the earlier gains. The oil-sensitive London FTSE 100 ended down 0.01% at 6,155.20. Across the region, the German DAX 30 closed up 0.41% at 6,202.82. In Paris, the CAC 40 gained 0.29% at 5,375.35.
Elena
20 Oct, 2006
New York City
SanDisk tumbled 20% amid concerns about pricing pressure and oversupply for the company''s flash memory storage technology used in consumer electronic gadgets. Company''s stock was downgraded at Citigroup and Oppenheimer to hold from buy. On Thursday, SanDisk reported Q3 profit drop of 4% to 51 cents a share, despite 27% revenue growth.
Elena
20 Oct, 2006
New York City
In after-the-close release, Reliance Industries posted yesterday better-than-anticipated results. In trading today, though, the Sensex finished lower in a highly volatile session due to a last-minute selling pressure which broke the otherwise solid trend in earlier hours. Reliance led the advancers, Bharti Airtel and Tata Steel followed suit. Satyam led the decline, together with Bajaj Auto. Corus, the Anglo-Dutch accepted the proposed bid by Tata Steel. Wholesale Price Index remains unchanged.
Elena
20 Oct, 2006
New York City
Stocks traded in a lackluster fashion at opening, with the Dow erasing gains on disappointing Caterpillar results a day after breaking through 12,000 for the second day in a row. The Dow component dropped 10.6% after warning that costs, a slowing housing market and lower sales would negatively affect its earnings by the end of 2006 and 2007. However, the decline was limited by 2% gain for 3M and 1.3% for Merck after they reported better-than-expected Q3 earnings.
Ivaylo
20 Oct, 2006
New York City
Heavy truck maker Caterpillar failed to mpost results in line with expectations and led U.S. futures lower. The London benchmark index also followed suit. Corus, which has agreed to a deal from Indian Tata Steel, also declined. Next and media company SMG sank as well. Wolfson Microelectronics plummeted after the company said full-year revenues would fall below expectations. Hanson advanced despite profit warnings from Martin Marietta and ITV rose too. The FTSE 100 declined 1.4 points, or 0.02%.
Elena
20 Oct, 2006
New York City
U.S. stock futures moved to the downside, hurt by disappointing earnings and guidance from blue chip equipment maker Caterpillar. Rebounding crude oil prices also weighed. Caterpillar slipped 8% in preopen trading on disappointing Q3 earnings of $1.14 a share, up from 94 cents a year ago, but missing expectations of $1.35. In contrast, Google Inc. climbed 7.5% after the Internet search giant reported a 92% profit jump.
Elena
20 Oct, 2006
New York City
Under the terms of agreement Corus stockholders will receive 455 pence in cash for each of their shares. The offer is at a 26.2% premium to the 12-month average closing price for Corus shares, but it came in below their market price. Corus shares fell 1.6% in London. Tata Steel rose 1.4% in Bombay.
Ivaylo
20 Oct, 2006
New York City
Japan and Australia led Asian stocks higher on Friday, as investors were upbeat, tracking a record-high close for the U.S. market while recovering oil prices after newly-announced production cuts by OPEC nations gave a boost to Inpex Holdings Inc., PetroChina and other energy companies. South Korea ended higher with diplomatic efforts still continuing to defuse the North Korean nuclear crisis.
Ivaylo
20 Oct, 2001
New York City
European markets hit new five-year highs in early trading on Friday morning, as companies gained strength from overnight upbeat close on U.S. markets and as oil producers advanced after the OPEC oil cartel agreed on a deeper-than-anticipated production reduction. OPEC agreed on a cut of 1.2 million barrels a day, topping the forecast 1 million barrels. The U.K. FTSE 100 gained 0.44%, the German DAX 30 rose 0.4%, the French CAC 40 advanced 0.5%.
Ivaylo
20 Oct, 2006
New York City
Traders commented that a buy signal appeared at the $599.10 an ounce level while at the same time, crude oil rose after comments from the oil minister of Saudi Arabia hinting that OPEC could make further reductions to stop the recent decline in the oil market. The Saudi comments boosted oil prices which in turn pushed gold higher. All the other precious metals rallied as well.
123jump.com Staff
19 Oct, 2006
New York City
Citigroup, Bank of America and Bank of NY reported mixed earnings growth, owever shares of all three stocks fell. Citigroup operating earnings rose 6% on a slight decline in revenue in the third quarter. Bank of America reported earnings of $1.18 vs. 95 cents a year ago on revenue rise of 32%. Bank of NY reported earnings of 46 cents vs 51 cents a year ago. After the close Google reported earnings of $2.36 vs $1.32 a year ago.
