123jump.com Staff
03 May, 2006
New York City
Market averages turn negative after digesting a fresh batch of earnings in the morning. TimeWarner reported higher revenue and earnings but missed the estimate. Proctor & Gamble reported higher earnings and 21% higher revenue. P&G stock has been on the decline for the 45 days and declined further today. Blue Nile and Cognizant reported better than expected earnings. FPL, Clear Channel met expectations. Genesis Micro and Cigna disappointed the market. Cigna dropped $12 and Genesis lost 20%.
Elena
03 May, 2006
Frankfurt
European stocks finished sharply down on oil prices and weaker dollar against the euro. Shares of automakers lost ground, with BMW AG falling 2.7% and Volkswagen, down 1.7%. Deutsche Bank and insurer Allianz declined 1.7% each. The German DAX 30 dropped 1.4%, the French CAC 40 declined 0.9%, and London FTSE 100 fell 1.2%.
Elena
03 May, 2006
New York City
Stocks moved lower on strong economic data raising concerns about higher interest rates. Disappointing profit outlooks from Adobe, down 8.9% and Procter & Gamble, down 4.7% also weighed. The Commerce Department said that new orders at U.S. factories rose a stronger-than-expected 4.2% in March on strong demand for transportation equipment, electronic products and machinery. Rate-sensitive utilities and financial stocks showed a notable weakness. Gold and energy stocks also fell.
Elena
03 May, 2006
Mumbai
Sensex in India rose for the fourth day in a row and gained 4% for the week. Sensex is now trading 30% higher since the beginning of the year only trailing 47% rise in Russian market. Banking, refining and mid-cap industrial stocks advanced on earnings. Volatility in the market has increased in the last two months of trading.
Elena
03 May, 2006
New York City
Stocks opened flat on surging oil and gold prices which offset the positive sentiment generated by strong earnings from Time Warner and Procter & Gamble. Time Warner posted 60% quarterly profit rise, lifted by growth in its cable television business and from the sale of its book group.
Elena
03 May, 2006
New York City
Time Warner Inc. reported Q1 profit rise to $1.46 billion, or 32 cents per share, up from $915 million, or 19 cents per share last year, beating estimates. Procter & Gamble Co. posted Q3 earnings jump of 37% to $2.21 billion, or 63 cents per share, up from $1.61 billion, or 59 cents, exceeding analyst expectations.
Elena
03 May, 2006
Frankfurt
European markets moved lower at mid-day, reversing from early gains fueled by commodities and mining stocks. Stocks declined on continuously rising oil prices leading auto stocks down. The German DAX 30 dropped 0.6%, the French CAC 40 declined 0.3%, and London FTSE 100 fell 0.6%.
Ivaylo
03 May, 2006
New York City
South Korea advanced at mid-day on positive earnings news, lifting financial stocks performance. Seoul
123jump.com Staff
02 May, 2006
Metals
Market averages continued to climb in the face of falling dollar and rising crude oil and commodities prices. The borader averages gains were led by large industrial companies. Verizon reported stronger than expected earnings. After the close Dream Works, Pacer International, platronics, Thor Industries and Allied Waste reported earnings. European markets closesd higher. India closed at a record level.
123jump.com Staff
02 May, 2001
New York City
Market averages maintained upward bias towards the close. Industrial stocks such as Caterpillar, Deere & Co, Boeing and Honeywell led the rise in the market averages. Oil traded at elevated levels on geopolitical worries. Gold and silver rose in Europe and in New York trading. Archer Daniel Midlands reported better than expected earnings. Home builders declined on earnings warnings from Hovnanian. Canadian Aluminum maker Alcan rose on earnings.
Elena
02 May, 2006
Frankfurt
European markets closed sharply higher on strong resource stocks and corporate news. Commodities, oil and gas stocks advanced with Cairn Energy and Xstrata standing out among gainers. In corporate news, Credit Suisse Group rose 1.5%, French Lafarge gained 1.1%, telecoms group Alcatel and beer company Heineken gained on brokerage upgrade, rising 1% and 2.3% respectively. The German DAX 30 climbed 0.7%, the French CAC 40 rose 1%, and London FTSE 100 climbed 1%.
Elena
02 May, 2006
New York City
Shares of Chesapeake Energy Corp. moved up 3% after the company reported earnings jump on record oil and gas production. Pinnacle Entertainment Inc. gained 4% after the company reported Q1 earnings of $13.5 million, or 28 cents a share, up from a year-ago loss of $2.2 million, or 6 cents a share. Shares of Hovnanian Enterprises Inc. plunged 7% after the company cut its Q2 and 2006 earnings forecasts on production delays and lower sales.
Elena
02 May, 2006
Mumbai
Indian Sensex closed 176.22 points higher to hit an all-time high at the time when the news of government probe into cement price high hit the market. The Sensex remained on positive territory throughout the session soaring at the opening hours. The index has kept a steady rise in the past three trading sessions, up 3.2% over that time.
Elena
02 May, 2006
New York City
Insurer St. Paul Travelers lifted its 2006 earnings outlook and said it would buy back $2 billion in shares. The stock rose 4.6%. Sirius rose 7% after posting a wider net income loss, reflecting payment of $225 million in stock-related compensation. However, the loss was better than analysts expected. Hovnanian Enterprises Inc. fell 6% after the homebuilder lowered its Q2 profit outlook on slowing sales and production delays.
Elena
02 May, 2006
New York City
Verizon reported Q1 earnings of $1.6 billion or 56 cents a share compared to $1.8 billion or 63 cents per share last year on 25% revenue growth. Excluding special items, the company earned 60 cents per share, a penny above analyst estimates. Pinnacle Entertainment swung to profit in Q1, reporting 28 cents a share, up from a loss of 6 cents a share due to 70% revenue jump. Quarterly results exceeded analyst estimates. Hovnanian Enterprises fell 6% on lowered Q2 and 2006 profit outlook.
