Elena
01 Sep, 2006
New York City
Stocks opened higher Friday on news that wage inflation was tamer-than-expected in August. Another report showed that construction spending fell 1.2% in July following an upwardly revised 0.4% increase in June. Economists had expected spending to come in unchanged compared to the 0.3% increase originally reported. Bristol-Myers Squibb rose 4.8% after a judge blocked sales of a generic form of the drug maker''''''''s blood-thinning drug, Plavix, citing possible patent infringement.
Elena
01 Sep, 2006
New York City
The employment report showed that U.S. firms continued to hire workers at a steady, but moderate pace in August. The unemployment rate inched lower to 4.7% in August from 4.8% in July. Average hourly earnings rose by 2 cents, or 0.1%, to $16.79. Average wages were expected to rise 0.3%.
Elena
01 Sep, 2006
New York City
Under terms of agreement the investor group, led by Hellman & Friedmand and Texas Pacific Group, will pay $44 for each share. The deal represents an 18% premium over Thursday''s closing price and a 22% premium over the stock''s average closing price for the last 20 trading days. Following the news Intergraph''s stock jumped 15% in evening trading Thursday.
Ivaylo
01 Sep, 2006
New York City
The Nikkei 225 Average ended the session in negative territory with the tech sector broadly down. Taiwan and Indonesia witnessed selected buying, as fair amount of money is probably finding its way back into Taiwan going from the South Korean market where some cash is being taken out. Shares in Australia, Singapore and South Korea traded flat.
Ivaylo
01 Sep, 2006
Frankfurt
European stocks reported modest gains on Friday ahead of key U.S. economic data, supported by strength in the health care sector after French drug maker Sanofi-Aventis won a patent case for its Plavix blood thinning treatment. The U.K. FTSE 100 index edged up 0.2%, the German DAX Xetra 30 index rose less than one percentage point and the French CAC-40 index gained 0.2%.
Ivaylo
01 Sep, 2006
Metals
In the case of silver, investors attributed the surge to strong investment demand a day after the amount of metal held by an exchange-traded fund peaked above 100 million ounces. Gold followed, supported by both silver and a sharp gain in copper. Continuing tension over nuclear program of Iran was another factor boosting the precious metals.
123jump.com Staff
31 Aug, 2006
New York City
Weak trading volume, directionless trading in averages and report on factory orders and inflation dominated the news in the market. Personal income in July rose 0.5% and personal consumption rose 0.8% in the month. PCE, price index for consumption rose 0.1% in July. Factory orders fell 0.6% in the month. Joy Global stock jumped 21% on earnings news. Same store sales were reported higher by Target, Wal-Mart and Nordstrom. Gap, Sharper Image and Pier One reported another decline in sales.
123jump.com Staff
31 Aug, 2006
Metals
Goldcorp agreed to acquire Glamis for $8 billion. The deal between the two companies is a latest in a series of deals in the mining industry. The deal follows a deal between Barrick Gold and Placer Dome and two bids in place for Inco. Gold futures are trading $621 per ounce. The company may spin-off silver assets.
123jump.com Staff
31 Aug, 2001
New York City
Joy Global reported 17% rise in sales and third quarter earnings of $1.53 per share. The company guided a strong outlook in the mining equipment in copper, coal and iro ore. The stock jumped 17% and lifted shares of Terex and Manitowoc. Company sees no peak in demand for its equipment in the near future.
Elena
31 Aug, 2006
Frankfurt
European markets closed under the flat line. In a light trading session market sentiment was hurt by speculations that the ECB will raise interest rates in a month after it kept them on hold at 3%, as expected, on Thursday. Mining and tech stocks like Anglo American and STMicroelectronics led decliners. The U.K
Elena
31 Aug, 2006
New York City
The Department of Commerce reported that orders for manufactured goods fell 0.6% in July following an upwardly revised 1.5% increase in June. Economists had expected orders to fall 0.8%. The drop in factory orders was due to a 2.5% decline in manufactured durable goods in July following a 3.3% increase in June.
Elena
31 Aug, 2006
Mumbai
The news that the Stock Holding Corporation of India has sent letters to brokers demanding cash instead of shares to substitute in the futures and options segment which had a negative effect on the market effectively pushing it down in the latter part of the trading session. The market-breadth was negative. ITC, HDFC Bank, Reliance Petroleum and Tata Power led the advancers, while Gujarat Ambuja led the decliners. Telecom Regulatory Authority sets 5 rupees per cable for three largest cities.
Elena
31 Aug, 2006
New York City
Stocks opened higher, boosted by news of higher consumer spending, fewer jobless claims and solid retail sales. Wal-Mart Stores reported same-store sales at its U.S. same-store sales advanced 2.7% in August, exceeding estimate for an increase of 2.5%. Federated Department Stores reported that same-store sales rose 3.8%, missing analyst expectations for it to post a same-store sales gain of 4%.
Elena
31 Aug, 2006
New York City
Stock futures rose Thursday after data showed a weaker-than-expected rise in a key inflation gauge. The Department of Commerce released a report that showed increases in both personal income and spending in July came in line with economist estimates. Personal income rose 0.5%, while personal spending rose 0.8%. Core consumer inflation rose 0.1% in July, the smallest gain since December and less than the 0.2% gain expected by economists.
Elena
31 Aug, 2006
New York City
Among the companies releasing upbeat results, Mothers Work Inc. posted a 5% increase in August comparable store sales, while Bebe Stores said same-store sales rose 12.5%, exceeding estimates of 11.4% increase. Limited Brands also topped estimates reporting same-store sales growth of 9%. Pier 1 Imports posted a 9.1% drop in August same-store sales.
