Elena
27 Oct, 2006
New York City
Strong quarterly earnings of mobile phone company Bharti Airtel together with news that a fire at Reliance Industries earlier this week has had minimal impact on production helped Indian shares rally on Friday. Buying was supported by the smooth rollover of open positions in the futures and options segment yesterday. The annual inflation rate in India has hit a four-month high. All-India bank strike was called by United Forum of Bank Unions.
Elena
27 Oct, 2006
New York City
Stocks opened in the negative amid data, showing that the economy grew at the slowest pace in more than three years, due to cooling housing market. The good news came from Chevron Corp. which said its Q3 soared to $5 billion, hitting a new high in its 127-year history. The company posted 40% profit jump of $5.02 billion, or $2.29 per share, up from $3.59 billion, or $1.64 per share last year, beating analysts'''' estimates.
Ivaylo
27 Oct, 2006
New York City
London remains deep into the red with miners still weak, pharma stocks under pressure and WPP receiving a bad reception for its third quarter figures. Advertising and marketing company WPP Group fell 4.6 % to 657
Elena
27 Oct, 2006
New York City
U.S. stock futures traded lower, hurt by disappointing GDP data. The Commerce Department reported that Q3 U.S. economic growth slowed sharply, increasing at a real seasonally adjusted annual rate of 1.6% after a 2.6% increase in Q2. The growth rate came in below the 2.0% growth rate expected by economists.
Elena
27 Oct, 2006
New York City
U.S. stock market futures pointed to a lower opening Friday, reflecting quarterly earnings from Microsoft and nervousness before GDP data, expected to show that the U.S. economy grew at a slower pace. Microsoft reported an 11% rise in both profit and revenue in Q1 amid higher-than-expected sales. But the company also warned that its results for Q2 would be hurt by plans to defer about $1.5 billion in revenue to the following quarter.
Ivaylo
27 Oct, 2006
New York City
The Nikkei Average in Japan slipped as investors resorted to profit taking. The banking sector led the decline. Shares in one of the biggest state-owned banks in China advanced 15% in trading on the Hong Kong exchange on Friday, in line with what the market had expected from the debut of the largest-ever initial public offering in the world. Elsewhere in the region, Australia and South Korea dipped, while Taiwan and Malaysia rose.
Ivaylo
27 Oct, 2001
New York City
Losses in pharmaceuticals and advertising company WPP offset gains in tech stocks on Friday. Tech stocks were boosted by a strong performance the US market, as after the US close, Microsoft reported strong third quarter numbers. AstraZeneca, a pharmaceutical company, retreated as Credit Suisse lowered its recommendation and brought the market lower. By mid morning, the FTSE 100 eased slightly, Frankfurt Xetra Dax was also marginally better, while the CAC 40 in Paris fell 0.1%.
Ivaylo
27 Oct, 2001
New York City
The weaker dollar was blamed on the fallout from the late-Wednesday statement from the FOMC, which was seen as dovish on interest rates, combined with expectations for more monetary tightening from the European Central Bank. Gold and silver got off to a pretty decent start this morning on follow-through from the afternoon gains yesterday after the Fed basically sat on their hands.
123jump.com Staff
26 Oct, 2006
New York City
New homes sales rose for the second month in a row but median home sales price fell to $217,000. ExxonMobil profit rose 5.7% to $10.9 billion and Shell profit fell 34% on problems in Nigeria. Microsoft profit jumped 11% on strong sales in XBox. Microsoft earned in the quarter 35 cents vs. 29 cents compared to a year ago. Navteq rose 16% and Chicos gained 7%.
Elena
26 Oct, 2006
New York City
European stock markets closed mixed on Thursday, reflecting disappointing news from major drug companies, losses in the metals sector, and positive earnings news from other companies like Royal Dutch Shell and telecoms provider France Telecom. London FTSE 100 finished down 0.48%, dragged by AstraZeneca and GlaxoSmithCline. The German DAX 30 gained 0.31%. The French CAC 40 rose 0.21%.
Elena
26 Oct, 2006
New York City
U.S. stocks turned lower as investors turned to profit taking, but Exxon Mobil Corp. helped limit the downward trend on a strong earnings report. The latest report on the housing sector offered a mixed picture. The government reported that new homes sales unexpectedly rose 5.3% in September, the most in three months, while median sales prices dropped to a 36-year low of 9.7%.
Elena
26 Oct, 2006
New York City
Banks rallied today, supported by strong second-quarter results. The surge in the sector was also buoyed by the decision of the Fed to leave interest rates intact. Rates hikes draw capital to the U.S. economy, thus leaving emerging markets out of investment flows. Another factor contributing to the rise was short covering in derivatives due to expiry of October 2006. ICICI Bank and SBI led the advancers today, while the main decliners were ranbaxy and Hindustan Lever.
Elena
26 Oct, 2006
New York City
U.S. stocks extended gains Thursday, helped by strong results from Exxon Mobil and upbeat economic data. Exxon Mobil rose 1.5% after the oil giant posted better-than-expected quarterly results, buoyed by higher crude-oil and natural-gas realizations and improved marketing. The Commerce Department reported capital spending continued to rise as durable goods orders jumped to a six-year high of 7.8%.
Ivaylo
26 Oct, 2006
New York City
GlaxoSmithKline and AstraZeneca suffered setbacks with their most-advanced experimental treatments. Their shares had their steepest declines in almost two years. Banks also traded in the red. Northern Rock, Royal Bank of Scotland and Lloyds TSB in trouble, while miners gave back early gains. Anglo American, Lonmin and Rio Tinto are lower, although, Vedanta Resources is still in the blue. The FTSE 100 in London is almost flat in the afternoon, at 6,217, or 0.03% higher.
Elena
26 Oct, 2006
New York City
U.S. stock futures indicated a higher opening on the back of stronger-than-expected earnings and steady interest rates. A bigger-than-expected jump in durable goods orders and higher weekly jobless claims had little effect on futures. Exxon Mobil reported Q3 earnings rise of $10.49 billion, or $1.77 per share, up from a year-ago profit of $9.92 billion, or $1.58 per share, exceeding expectations of $1.59.
