123jump.com Staff
11 May, 2006
Metals
Market averages are trading at their worst levels of the day. Interest rate worries have resurfaced in the trading sentiment. Dollar continues to lose grounds in the international currency markets. Gold, silver and platinum reach record levels not seen in 26-years. Google lose $14 after yet another release of prducts that aere not well received in the market. Industry watchers labeled recent release of Google Finance as me-too product.
Elena
11 May, 2006
Frankfurt
European markets reversed from early gains to close down, pressured by weakness in the telecom sector, surging commodity prices and a steep decline in the Dow Industrial average. Deutsche Telekom fell 2.6%, followed by France Telecom and PT Group. The German DAX 30 dropped 1%, the French CAC 40 lost 0.3%, while London FTSE 100 slipped 0.7%, despite gains in miners and oil giants.
Elena
11 May, 2006
New York City
Surging oil prices pressured stock markets. The Nasdaq and the Dow were down 1%. Apple lost 2.6%, Dow component AIG lost 4.1%, while GM dropped 3.6%. Big energy companies and commodities users fell, including heavy equipment maker Caterpillar and diversified manufacturer 3M Co. Shares of Movie Gallery skyrocketed 61%, to 5.10 after reporting better-than-expected Q1 earnings of $40.3 million, or $1.27 a share on revenue growth of $694.4 million.
Elena
11 May, 2006
Mumbai
The market weakness sprang from the left parties
Elena
11 May, 2006
New York City
April retail sales rose slightly below expectations. The Commerce Department said that retail sales rose 0.5% in April against economist estimates of an increase of 0.7%. The report also showed that sales at motor vehicle and parts dealers fell 0.4% after increasing 1% in March.The weaker-than-expected sales added to speculation that the Fed Reserve will leave interest rates unchanged at its June meeting.
Elena
11 May, 2006
New York City
Stock futures were set to open in the positive, boosted by strength in oil and mining companies, following a sharp advance in the price of oil, copper, gold and platinum. Shares of Exxon Mobil Corp. and ConocoPhillip gained. Dow component AIG reported after closing bell disappointing quarterly results as Q1 profit declined 16% on increased expenses.
Elena
11 May, 2006
Frankfurt
European markets recovered on Thursday, following U.S. interest-rate increase overnight and receiving a strong support from commodity stocks. The biggest gainers were copper miner Xstrata and oil company BP. The German DAX 30 rose 0.5%, the French CAC 40 climbed 0.8%, and London FTSE 100 gained 0.3%.
Elena
11 May, 2006
New York City
Asian markets finished mixed Thursday. The Nikkei dropped for a third session in a row, pressured by strengthening yen and possible slowdown in Japanese corporate earnings as a result. The index fell 0.5% to 16,862.10 reflecting weakness in automakers and bank stocks. China Shanghai Composite reversed from recent strength and dropped 0.5% on profit-taking.
Ivaylo
11 May, 2006
Metals
Worries over inflation have been an integral part of the bullish mood powering the rally in the metal trading, together with tensions over Iran
123jump.com Staff
10 May, 2006
New York City
The Federal Reserve increased interest rates by a quarter percent to 5%. The market average has already factored in the rate hike. Baidu.com, Inc reported a revenue increase of 196.8% to $16.9 million, compared to the estimated $15.14 million. Cisco revenue rose 18% topping expectations by $.15 billion. Toyota Motor Corp reported a 39% rise in fourth quarter profit. Legg Mason, Inc reported its net income $1.03 a share, short of the anticipated $1.25 a share.
123jump.com Staff
10 May, 2006
New York City
The Federal Reserve raised interest rates a quarter percent to 5%, the highest level in five years, forcing U.S. stocks down. Whirlpool Corp. said it will consolidate operations by cutting 4,500 jobs and closing several plants as part of its acquisition of Maytag Corp. Baidu.com, Inc. reported earnings of $4.4 million. Legg Mason was 22 cents a share short of expectations. Toyota reports that it sold .3 million more vehicals in North America that it did a year ago.
Elena
10 May, 2006
Frankfurt
European markets extended earlier losses to finish in the negative ahead of the U.S. Fed Reserve interest-rate decision. Weaker dollar pressured export-related issues like tech stocks Infineon Technologies, Philips Electronics, and SAP. However, carmaker DaimlerChrysler rose 1.2% as Deutsche Bank upgraded the company to buy from hold. The German DAX 30 dropped 0.4%, the French CAC 40 declined 0.6%, and London
Elena
10 May, 2006
New York City
Major averages turned mixed in late morning trading. The Dow moved to the upside supported by General Motors, up 2.3%. The Nasdaq traded lower as disappointing forecasts from Cisco and Federated weighed. Disney reported earnings increase of 12% last quarter, helped by strong television ratings and increased theme park attendance.Toyota Motor posted Q4 net profit rise of 39% on 18% sales growth.
Elena
10 May, 2006
Mumbai
Indian bank stocks were boosted by hopes that U.S. fed will stop hiking the rates, a policy, followed for almost two years now. Solid metal prices in the global markets pushed metal stocks up. Copper jumped over $8000 a ton on supply fears, igniting a dizzying rally. Reliance Industries gained, ahead of the listing of its subsidiary Reliance Petroleum on Thursday. Cement and auto shares declined.
Elena
10 May, 2006
New York City
Stocks opened lower Wednesday as investors anxiously awaited Fed Reserve interest-rate decision. Negative sentiment was also generated by disappointing forecasts from Cisco Systems and Federated Department Stores. Cisco shares dropped 3%. Federated fell 3%. The company posted Q1 loss of 19 cents per share vs. profit of 71 cents a year ago, citing costs from acquiring May Department Stores.
