- 123jump.com Staff
- 25 Oct, 2007
- New York City
Stocks in New York caught in volatile trading, closed nearly unchanged after losing 1.5% and rising 0.5%. Record close in oil helped indexes to lose momentum. Sony, Aetna, Motorola, VMware, Black Decker, and Express Script jumped; Cummins, Big Lots, Zimmer Holdings fell after reporting earnings. Mortgage insurers fell for the second day. In Europe telecom stocks rallied after France Telecom lifted sales guidance. Third quarter economic growth in China was reported at 11.5%.
- 123jump.com Staff
- 25 Oct, 2007
- New York City
Stocks in the UK advanced on a rise in telecom and retail stocks but financial stocks declined. FTSE 100 index increased 1.4% to 6576.30 on borad advance in index stocks. Vodafone and BT gained after France Telecom issued a beter than expeted guidance. Scottish & Newcastel rejected a joint offer from Carlesberg and Heineken. The consortium has offered 6.8 billion pounds. Royal Dutch Shell reported 16% increase in earnings.
- 123jump.com Staff
- 25 Oct, 2007
- New York City
Stocks in early trading in New York rose and then fell after weaker than expected durable goods order report for September. In the month, orders declined 1.7% and August month orders were lowered to 5.3% decline. Sony and Honda reported better than expected earnings. Aetna earnings increased 12% on 11% rise in revenue. VMware earnings tripled on revenue rise of 100%. Aegean Marine shareholders plan a secondary offering of 6.5 million shares.
- 123jump.com Staff
- 25 Oct, 2007
- New York City
China reported third quarter economic growth of 11.5% surpassing earlier estimate of 10.5% by the most economists in the region. Rising trade surplus and strong investments in industrial facilities and real estate lifted the economic growth to peak level. China is likley to face more pressure to revalue its currency and raise interest rates. Separately ICBC, the largest bank in China reported 76% jump in earnings.
- 123jump.com Staff
- 25 Oct, 2007
- New York City
Stocks in Japan fell on the weakness in financial stocks and worries that the ongoing correction in U.S. housing market may generate more losses for banks in Japan. Nikkei 225 index fell 0.5% for the second day to close at 16,284. Nomura reported a loss of $620 million in the U.S. subprime loans and Mizuho Financial is liklely to declare a loss in the sector as well. Net income at Sony increased and Hond lifts its estimate for the fiscal 2008.
- 123jump.com Staff
- 24 Oct, 2007
- New York City
UK stocks lost morning gains in the afternoon on weak earnings from Glaxo and lowered production output from Kazakhmys. Wider than expected mortgage trading related loss at Merrill Lynch also affected the sentiment. FTSE 100 index closed 0.5% lower to close at 6,482. Of the 102 stocks in the index, 32 closed higher and 67 declined. Home Retail Group earnings tripled. Glaxo reported weaker than expected earnings and Kazakhmys copper production was lower than anticipated.
- 123jump.com Staff
- 24 Oct, 2007
- New York City
U.S. stocks fell at the opening on the larger than estimated loss from Merrill Lynch in the asset based lending and fixed income trading business. The size of the loss, $8.5 billion took market by surprise. Existing home sales in September fell 8% to 5.04 million annual rate, lowest level since 1999 on fewer loans and high inventories. After the earnings reports, Broadcom, Amazon.com, Legg Mason, Moodys, Merrill Lynch, and National Oilwell declined. European markets closed lower.
- 123jump.com Staff
- 24 Oct, 2007
- New York City
Australia reported its inflation at the end of the third quarter rose to 1.9% and core rate of inflation increased at a rate of 1%. The report stoked worries that the interest rate may be raised before the end of the year. Australian dollar traded volatile on the report. Rio Tinto reported that nearly 80% of shareholders have tendered the shares in Alcan, aluminum company of Canada. Banks fell on the worries that Merrill Lynch loss may be larger than the previous estimate of $5 billion.
- 123jump.com Staff
- 24 Oct, 2007
- New York City
Markets averages in the early afternoon fell sharply after wider than expected loss at Merrill Lynch. Merrill reported nearly $8 billion loss in the fixed income trading on subprime mortgages and leveraged loans. Merrill fell as much as 7% and dragged Bear Stearns, Lehman, and Goldman Sachs lower as well. Ambac reported a loss of $3.51 per share and Moodys warned that earnings for the rest of the year will be lower. Boradcom and Amazon fell 7% after reporting earnings.
- 123jump.com Staff
- 24 Oct, 2007
- New York City
Stocks in Tokyo fell after the worries of the sub-prime losses in the U.S. resurfaced. Banks and financial services led Nikkei 225 lower by 0.6%. September trade surplus rose 63% on 6.5% rise in exports and 3.25% decline in imports. Exports to China increased 16.5% and to India surged 54% but to the U.S. fell 9.2%. For the six months period ending in September, exports jumped 45.7% from a year ago.
- 123jump.com Staff
- 24 Oct, 2007
- New York City
U.S. market averages opened lower after a wider than expected loss from Merrill Lynch hurt the trading sentiment. The broker reported a net loss of $2.24 billion compared to net income of $3.02 billion a year ago. Leveraged loans and fixed income trading in subprime and collaterized loans led to a loss of $7.9 billion. European markets were trading mixed at mid-day. Asian markets after a steady rise in three days settled near peak levels. Turkish airstrike puts oil traders on alert.
- 123jump.com Staff
- 23 Oct, 2007
- New York City
U.S. stocks recovered for the second day after earnings from Apple, American Express, Burlington Northern, Du Pont, and T Rowe Price improved the sentiment. Investors cheered the steady stream of earnings from industrial, technology, and financial services companies after a week of gloomy earnings from banks. European markets edged higher led by 2% rise in Norway. Miners surged in UK and Australia. India led world markets with a sharp gain of 5%. Hong Kong, Korea, and Indonesia surged as well.
- 123jump.com Staff
- 23 Oct, 2007
- New York City
UK stocks edged higher led by a rally in resources stocks. FTSE 100 index edged 0.9% higher to close at 6,514.00. BHP jumped 2.3% after reporting preliminary production results for the third quarter. The report indicated that tht edemand from China is healthly and iron ore production increased 7%. Autonomy fell after reporting 49% rise in sales. Prudential Plc reported 15% rise in insurance premium on strength in the U.S. and Asia. UK sales fell.
- 123jump.com Staff
- 23 Oct, 2007
- New York City
In the early afternoon trading U.S. stocks traded higher led by a parade of earnings. T Rowe price reported earnings rise of 37%, Western Union earnings fell but revenue rose by 10%. Burlington Northern Santa Fe jumped after reporting earnings rise of 9% on revenue gain of 4%. Apple soared 7% on 67% rise in earnings. Coach fell 10% after reporting 28% increase in sales and 32% rise in net income.
- 123jump.com Staff
- 23 Oct, 2007
- New York City
Stocks in Australia closed higher led by mining, banking, and retailing sectors. ASX 200 index ganiend 1.3% to close at 6,660.90. BHP edged higher after its third quarter production report showed production increase of 7% in iron ore, 23% in copper, but 13% decline in Nickel. Woolworths sales increased 8.9% in the fist quarter of the fiscal 2008 on the strength in general merchandise sales. Qantas added 4% after its subsidiary Jetstar plans to launche discount flights to Europe.