Elena
22 Nov, 2005
New York City
In earnings news today, H.J.Heinz posted Q2 profit increase of 60 cents a share on sales growth, beating estimates. Tech Data reported Q3 income drop of 40 cents per share, missing expectations. Genesco beat estimates with a profit rise of 61 cents a share. Albertso''s Inc. announced 30% quarterly drop blaming hurricanes, missed estimates.
Elena
21 Nov, 2005
New York City
In corporate news, General Motors announced a plan to eliminate 30,000 manufacturing positions from 2005 through 2008 in order to reduce its assembly capacity in North America by an additional 1 million units by the end of 2008, bringing its target down to 4.2 million units. Boeing revealed a deal worth $9.7 billion for an order from the Emirates for 42 Boeing 777 airplanes with purchase rights to another 20 planes.
Elena
21 Nov, 2005
New York City
Asian-Pacific markets closed mixed with the Nikkei up 0.4%, hitting a fresh five-year peak of over 14,800 points. European stocks largely gained at mid-day, led by the German DAX 30, up 0.3%. In corporate news, auto maker General Motors is expected to announce plant closures as part of its restructuring plan. J.P. Morgan downgraded NIKE from ''overweight'' to ''neutral''.
Elena
18 Nov, 2005
New York City
At mid-day stocks settled at the unchanged mark. Merger-and-acquisition news has been the major market driver in early going. Cisco Systems Inc announced plans to buy Scientific-Atlanta Inc for $6.9 billion. Another giant, General Electric said it will sell most of its Insurance Solutions reinsurance division to Swiss Re for $8.5 billion. The company made that decision after losing $700 million from the insurance business over the last five years.
Elena
18 Nov, 2005
New York City
Merger-and-acquisition news has been the major market driver in early going. Cisco Systems Inc announced plans to buy Scientific-Atlanta Inc, the top U.S. maker of cable television set-top boxes, for $6.9 billion. Another giant, General Electric said it will sell most of its Insurance Solutions reinsurance division to Swiss Re for $8.5 billion. The company made that decision after losing $700 million from the insurance business over the last five years.
Elena
18 Nov, 2005
New York City
Asian-Pacific benchmarks advanced on economic optimism, Wall street rally and falling oil with the Nikkei hitting a new five-year high of 1.5% to 14,623,12. European stocks also gained at mid-day on automotive and airline sectors with each average rising 1.1%. In corporarte news, Cisco Systems Inc announced plans to buy Scientific-Atlanta Inc, the top U.S. maker of cable television set-top boxes, for $6.9 billion.
Elena
17 Nov, 2005
New York City
Hewlett-Packard posted 62% profit drop in the fourth quarter on $1.1 billion restructuring charges. The company released earnings of 14 cents a share on revenue of $22.9 million, but excluding charges it earned 51 cents a share, beating estimates of 46 cents. Shares of Google broke above $400 for the first time, rising 1% to $401.90 in morning trades. In its IPO of Aug 2004, Google held pricing at $85.
Elena
17 Nov, 2005
New York City
Stock advanced on upbeat economic data. The Fed Reserve, informed that U.S. industrial production rose unexpectedly by 0.9% in October, fueled by manufacturing output. In another report, the Labor Department said that initial jobless claims dropped to 303,000, their lowest level since April, versus expected decline of 322,000. In less positive report, the Dept of Commerce said that new construction of U.S. homes fell 5.6% to seasonally adjusted annual rate of 2,014 million.
Elena
17 Nov, 2005
New York City
Stock advanced on upbeat economic data. The Fed Reserve, informed that U.S. industrial production rose unexpectedly by 0.9% in October, fueled by manufacturing output. In another report, the Labor Department said that initial jobless claims dropped to 303,000, their lowest level since April, versus expected decline of 322,000. In less positive report, the Dept of Commerce said that new construction of U.S. homes fell 5.6% to seasonally adjusted annual rate of 2,014 million.
Elena
17 Nov, 2005
New York City
Asian-Pacific benchmarks closed broadly higher, led by the Nikkei which rose 1.7%, hitting a fresh four-year high of 14,411,79. Seoul''''s Kospi also reached an all-time high of 1,272,80. European stocks gained at mid-day on mergers and commodities. In U.S. corporate news, Applied Materials posted Q3 46% profit drop but beat estimates by a penny. Oil producer ConocoPhillips was downgraded by J.P. Morgan to neutral from overweight.
Elena
16 Nov, 2001
New York City
Homebuilder D.R. Horton reported Q4 net income rise of 61% on 45% increase in revenue, beating analyst estimate. Tyco posted nearly doubled fourth-quarter earnings on lower tax rate,but revenue misses estimates. Teenage fashion retailer Too reported Q3 profit jump of 40% on improved sales. Zale Corp posted Q1 wider-than-expected loss, despite a revenue growth.
123jump.com Staff
16 Nov, 2005
New York City
AFTER THE CLOSE: Applied Material reported 15 cents vs. 27 cents a year ago on revenue decline of 22%. Intuit Inc. reported loss of 24 cents vs. 26 cents a year ago on revenue growth of 20%. Network Appliance reported earnings of 18 cents and 21 cents without one-time charges beating the estimates of 18 cents. Medtronic reported earnings of 67 cents including one-time gains and 54 cents without the charges. PetSmart reported flat profit of 21 cents compared to a year ago on revenu jump of 10%.
Elena
16 Nov, 2005
New York City
Homebuilder D.R. Horton reported Q4 net income rise of 61% on 45% increase in revenue, beating analyst estimate. Tyco posted nearly doubled fourth-quarter earnings on lower tax rate,but revenue misses estimates. Teenage fashion retailer Too reported Q3 profit jump of 40% on improved sales. Zale Corp posted Q1 wider-than-expected loss, despite a revenue growth.
Elena
16 Nov, 2005
New York City
Asian-Pacific markets gained ground to close higher, led by the Kospi, rising 1.1% and the Nikkei, up 0.6% hitting a new four-year high of 14,170,087. European stocks traded lower on weaker U.S. stock markets, resource stocks and earnings news. Homebuilder D.R. Horton reported that Q4 net income rose 61% to $1.77 compared with last year
123jump.com Staff
15 Nov, 2005
New York City
AFTER THE CLOSE: Abercrombie reported earningsof 79 cents vs. 42 cents a year ago on 35% sales growth. Analog Devices earnings fell to 18 cents from 34 cents a year ago on fall in revenue of 2% and on restructuring charges and earnings repatriation. La-Z-Boy reported a loss of 12 cents vs profit of 17 cents a year ago.
