Elena
05 Oct, 2005
New York City
Crude-oil inventories dropped by 300,000 barrels last week after a decline of 2.4 million barrels in the previous week. Gasoline inventories posted a decline of 4.3 million barrels vs. last-week
Elena
05 Oct, 2005
New York City
The Mortgage Bankers Association revealed that its market composite index of mortgage loan application volume decreased by a seasonally-adjusted 1.1% for the week ended September 30, dropping to 713.5 from 721.2 in the previous week. Yum Brands, fast food restaurants operator, posted Q3 earnings rise of 72 cents a share vs. 61 cents a year ago on higher revenue, beating estimates. The company raised its full-year profit outlook to $2.64 a share.
Elena
05 Oct, 2005
New York City
Asian-Pacific markets closed down on speculations of interest-rate increases with the Nikkei down 0.4%, South Korea falling 1.2%, and Hong Kong down 1.4%. European markets also traded lower at mid-day on U.S. market losses. Yum Brands, fast food restaurants operator, posted Q3 earnings rise of 72 cents a share vs. 61 cents a year ago on higher revenue, beating estimates. The company raised its full-year profit outlook to $2.64 a share.
123jump.com Staff
04 Oct, 2005
New York City
Profit warnings, downgrades, inflation scare, natural gas merger and tech deal between Google and Sun, all fed energy into last hour of trading. In an otherwise directionless trading in the morning succumbed to one negative news after another. Procter & Gamble was downgraded by Citigroup, Clorox narrowed earnings guidance and BP lowered earnings forecast by $700 million. Chesapeake Energy to buy Columbia Natural Resources for $2.2 billion and debt.
Elena
04 Oct, 2005
New York City
Procter & Gamble fell 1.7% after Citigroup downgraded the company to hold from buy, worried over raw materials pricing. Clorox narrowed its Q2 and full-year earnings guidance on high energy costs, considering price increases to compensate the costs. BP warned it won't meet 2005 production targets and expects a profit decline of $700 million.
Elena
04 Oct, 2005
New York City
The U.S. Census Bureau reported that new orders for manufactured goods in August increased $9.7 billion or 2.5% to $395.2 billion, following a 2.5% decrease in July. The computer hardware sector is the biggest loser because of Lexmark's lowered Q3 earnings outlook. The upgrade by Goldman Sachs to Attractive from Neutral, did not help the sector. Chesapeake Energy has agreed to buy Columbia Natural Resources for $2.2 billion in cash and $75 million in debt.
Elena
04 Oct, 2005
New York City
Asian-Pacific markets closed mostly up on exporter issues, boosted by stronger dollar. The Nikkei reached a new four-year high, rising 1.6% to 13738.84 points on strong semiconductor sales. European stocks gain on automotive shares, but oil-heavy U.K.'s FTSE declines 0.2%. Chesapeake Energy has agreed to buy Columbia Natural Resources for $2.2 billion in cash and $75 million in debt.
123jump.com Staff
03 Oct, 2005
New York City
Widening manufacturing sector, rising construction spending and rising commodities prices all point to higher inflation in the future. After three months of lull housing construction picked up. Stocks of home builders, oil refiners, natural gas and coal companies rose. Southwestern Energy jumped 12%. Mortgage lenders declined. Countrywide Financial suffered 2.4% loss.
Elena
06 Oct, 2005
New York City
The Labor Dept. said that jobless claims rose to 390,000 from the previous week's upwardly revised figure of 369,000. All Asian markets finished in the red, following the sharp declines on Wall Street, led by the Nikkei falling 2.4%. Oil prices slipped to a two-month low with crude-oil down at $41.20 a barrel, and gasoline down at $1.8340a gallon.
Elena
06 Oct, 2005
New York City
All Asian markets finished in the red, following the sharp declines on Wall Street, led by the Nikkei falling 2.4%. European stocks traded down at mid-day ahead of interest-rate decisions with the German DAX 30, down 1.2%. Costco, retailer, posted Q4 19.5% earnings rise of 73 cents a share on higher revenue, beating estimates. Wal-Mart, the world's largest retailer, posted a rise in September comparable sales of 3.8% from last year.
Elena
03 Oct, 2005
New York City
According to a report, released by the Commerce Dept. construction spending in August rose 0.4% from 0.3% in July close to expectations of 0.5% increase. The ISM said that purchasing managers index rose to 59.4 in September from 53.6 in August, reflecting the 28th consecutive month of growth in sector. Economists had expected the index to fall to 52.0 due to the hurricane. The Tech and Utility sector stand among the best performers, rising 0.4% and 0.3% respectively.
Elena
03 Oct, 2005
New York City
According to a report, released by the Commerce Dept. construction spending in August rose 0.4% from 0.3% in July close to expectations of 0.5% increase. The ISM said that purchasing managers index rose to 59.4 in September from 53.6 in August, reflecting the 28th consecutive month of growth in sector. Economists had expected the index to fall to 52.0 due to the hurricane.
Elena
03 Oct, 2005
New York City
Asian-Pacific markets closed mostly down on lower-than-expected tankan survey in Japan with the Nikkei down 0.4%, despite solid gains in exporter issues. European stocks traded in the green at mid-day on merger and acquisition activity. Auto sales and manufacturing index data are expected. NRG Energy has agreed to acquire Texas Genco for $5.8 billion. NTL is to acquire Telewest Global for $6 billion.
123jump.com Staff
30 Sep, 2005
New York City
Third quarter was the energy quarter. Natural gas rose 80%, crude oil gained 13% and gasoline jumped 44%. Majority of Gulf of Mexico oil and gas production remains closed with no clear visibility for the restart. Gold gained 6% and for the first time in a decade crossed $475 per ounce. Nasdaq, S&P and Dow up 4.6%, 3.1% and 2.9% for the quarter. Hurricane Katrina and Rita turned this quarter into energy quarter with many stocks gaining more than 25% in this period.
Elena
30 Sep, 2005
New York City
Semiconductor stocks posted solid gains in morning trading, sending the sector up 2%. Micron Technology, semiconductor products manufacturer, posted Q4 earnings drop of 7 cents a share vs. 14 cents a year ago, beating expectations of a loss of 8 cents per share. The stock is currently up 7.5%.
