Elena
26 Sep, 2005
New York City
The National Association of Realtors released a report, which showed an unexpected increase of existing home sales by 2% to a seasonally adjusted annual rate of 7.29 million units in August from a revised 7.15 million unit rate in July. The increase surprised economists, who had expected sales to fall to a 7.11 million unit rate from the 7.16 million unit rate originally reported for July.
Elena
26 Sep, 2005
New York City
The German DAX 30 advanced 1.9% at mid-day. Analogic Corporation, health and security systems maker, posted 4Q earnings rise of 31 cents a share vs. 29 cents a year ago, despite a revenue decline. Walgreen, drugstore operator, posted 4Q earnings, missing estimates by 2 cents. The NAR released a report, showing that existing home sales rose 2% to a seasonally adjusted annual rate of 7.29 million units in August from a revised 7.15 million unit rate in July.
Elena
26 Sep, 2005
New York City
Asian-Pacific markets made solid gains on falling oil prices with the Nikkei up 1.8% and South Korea's Kospi climbing 2.6%. European stocks also gained at mid-day, led by the German DAX 30, rising 1.9%. Analogic Corporation, health and security systems maker, posted 4Q earnings rise of 31 cents a share vs. 29 cents a year ago, despite a revenue decline. Walgreen, drugstore operator, posted 4Q earnings,missing estimates by 2 cents.
123jump.com Staff
25 Sep, 2005
New York City
Refineries in Texas have been spared the feared heavy damage but it may take weeks or even a month to bring oil production, refining, and pipeline infrastructure back to normal. Eight ports in the region transporting more than 55% of farm exports may take couple weeks to restart. Lack of electric and man power may slow recovery.
Yordanka
24 Sep, 2005
New York City
The traditional summer IPO slowdown finally ends at the end of September. Ikanos managed a strong debut and traded 10% above offer price on Thursday. Global Cash Access jumps 7% and North Pointe Holdings closes flat.
123jump.com Staff
23 Sep, 2005
New York City
Refinery storm Rita, at the end of the week, has managed to shut down 99% of oil and 72% of gas production in the Gulf of Mexico region. Total loss of production for both the hurricanes is likely to exceed 8% of annual output for oil and natural gas. Regardless of the strength of Hurricane Rita, gasoline prices at pump are likely to rise in the next two weeks.
Elena
23 Sep, 2005
New York City
European stocks closed up led by the German DAX 30 and CAC 40 both up 0.7%. Oracles, software supplier, posted 1Q profit of 10 cents a share on 25% higher revenue, but released disappointing 2Q revenue forecast. Alcoa, aluminum maker, projected 3Q earnings 39% below estimates. JLG Industries, equipment maker, posted doubled 4Q earnings of 69 cents a share on record-high revenue, but projected 2006 profit below expectations. Mexico's central bank reduced its benchmark rate to 9.25% from 9.50%.
Elena
23 Sep, 2005
New York City
European stocks gained ground on oil prices drop, led by the German DAX 30 up 0.4%. Oracles, software supplier, posted 1Q profit of 10 cents a share on 25% higher revenue, but released disappointing 2Q revenue forecast. Alcoa, aluminum maker, projected 3Q earnings 39% below estimates. JLG Industries, equipment maker, posted doubled 4Q earnings of 69 cents a share on record-high revenue, but projected 2006 profit below expectations.
Elena
23 Sep, 2005
New York City
Asian-Pacific markets closed broadly lower on profit-taking with South Korea's Kospi down 2% and Japan's Nikkei closed for a national holiday. European stocks gained ground on oil prices drop, led by the German DAX 30 up 0.4%. Oracles, software supplier, posted 1Q profit of 10 cents a share on 25% higher revenue, but released disappointing 2Q revenue forecast. Alcoa, aluminum maker, posted 3Q earnings 39% below estimates.
123jump.com Staff
22 Sep, 2005
New York City
Hurricane Rita remains in focus. Rita, one of the strongest hurricanes to hit the Gulf of Mexico region, could cause severe damage to more than 25% of nation's oil production and refining facilities. The 23% of domestic refining capacity is shut down with the unknow damage to the oil platforms in the region. KB Home earnings powered the home builders rally.
Elena
22 Sep, 2005
New York City
About 18 Texan oil refineries are threatened by Hurricane Rita, with a combined production capacity of about 4 million bpd, the U.S. Energy Information Administration said. The Labor Dept. released initial jobless claims in the week ended Sept. 17, showing that claims rose to 432,000 from the previous week's revised figure of 424,000. Economists had expected claims to rise to 450,000.
Elena
22 Sep, 2005
New York City
The Labor Dept. released weekly jobless claims for the week ending Sept. 17, showing an increase of 8,000 to a seasonally adjusted of 432,000 people. The initial claims were highest since July 2003 but came below expectations of 440,000. KB Home rose 2% on 3Q earnings of $2.55 a share, beating expectations of $2.39. General Mills posted strong 1Q income of 64 cents on higher sales.
Elena
22 Sep, 2005
New York City
Asian markets closed mostly lower with the Nikkei down 0.3% and Hong Kong down 0.3%. European stocks sharply declined at mid-day with German DAX 30 being the biggest loser , down 0.7%. The Labor Dept. released weekly jobless claims for the week ending Sept. 17, showing an increase of 8,000 to a seasonally adjusted of 432,000 people, vs. expectations of 440,000.
123jump.com Staff
21 Sep, 2005
New York City
Broader averages declined one percent as oil rose by the same. The decline in averages was led by broad sell-off in retail, techs, consumer staples, casinos, and home buiders. Weekly oil report suggested that crude oil inventories fell but that of gasoline and distillate inventories rose. 10-year note yield fell by 0.06 percent to 4.18%.
Elena
21 Sep, 2005
New York City
FedEx reported 1Q income of $1.10 a share vs. $1.08 on 10% revenue growth. The company raised its 2006 outlook to $5.25 to $5.50. Morgan Stanley posted 3Q 83% earnings drop of 13 cents a share vs. 76 cents a year ago. Retailers, casinos and airlines decline, while energy stocks gain. The Energy Department reported a crude inventories drop of 300,000 barrels for the week ending Sept.16.
